HAMILTON, Bermuda - Altamira Therapeutics Ltd. (NASDAQ:CYTO), a biopharmaceutical company, has drawn attention to a peer-reviewed article that endorses the use of betahistine for treating residual dizziness in patients with benign paroxysmal positional vertigo (BPPV).
The article, published in Frontiers in Neurology, suggests that betahistine, in addition to physical repositioning procedures, could alleviate the dizziness that persists for some patients after treatment.
BPPV is the most prevalent form of vertigo, costing the U.S. healthcare system nearly $2 billion annually. It often disrupts daily activities and work due to symptoms triggered by head position changes. Even after successful repositioning maneuvers, like the Epley maneuver, up to 61% of patients may experience lingering dizziness, impacting their quality of life.
Betahistine is currently not available in the United States but is used in about 115 other countries for vertigo and Meniere's disease treatment. Altamira is developing AM-125, a nasal spray formulation of betahistine, to address the drug's low oral bioavailability.
AM-125 has demonstrated up to 29 times higher bioavailability compared to its oral counterpart and has shown promise in a Phase 2 clinical trial for treating acute vestibular syndrome (AVS).
The company, which is pivoting towards RNA delivery technology, is looking to partner or divest its AM-125 program. Altamira's CEO, Thomas Meyer, PhD, expressed optimism about the potential of AM-125 for BPPV treatment and the company's commitment to making betahistine available to U.S. patients.
This focus on betahistine is part of Altamira's broader strategy, which includes developing RNA delivery technologies for non-liver targets and advancing preclinical siRNA programs for cancer and rheumatoid arthritis. The company is also seeking strategic transactions for its legacy assets, including the nasal spray Bentrio for allergic rhinitis.
Investors and interested parties should note that this information is based on a press release statement from Altamira Therapeutics. The company's forward-looking statements involve risks and uncertainties, including the success of strategic partnerships and the need for additional funding to further develop its product candidates.
In other recent news, Altamira Therapeutics has announced several significant developments. The company has made advancements in the stability of RNA nanoparticles, a crucial factor for the handling and transport of RNA formulations, which now remain stable in liquid form at 4°C for at least three weeks. Altamira has also reported positive results in a clinical trial for its Bentrio nasal spray for seasonal allergic rhinitis, showing significant reduction in symptoms.
Altamira has filed a provisional patent application for a new RNA-based therapeutic targeting inflammatory and cancer-related pathways. The company has also announced positive results from a clinical trial of Bentrio, a nasal spray for seasonal allergic rhinitis, demonstrating improvement in nasal symptoms and health-related quality of life.
During its recent Business Update and Full Year 2023 Earnings Conference Call, Altamira announced significant progress in its strategic repositioning, focusing on RNA delivery technologies and the advancement of its proprietary drug development programs.
The company reported a reduction in operating expenses and an improved financial position. These recent developments highlight Altamira's ongoing efforts to innovate and advance its offerings in the biopharmaceutical field.
InvestingPro Insights
In light of Altamira Therapeutics Ltd.'s (NASDAQ:CYTO) recent developments and focus on betahistine as a treatment for BPPV, a condition with significant health and economic impacts, it's valuable for investors to consider the financial health and market performance of the company. According to InvestingPro data, Altamira has a market capitalization of just 2.8 million USD, reflecting a small-cap status which often comes with higher volatility and risk for investors. The company's Price / Book ratio as of the last twelve months ending Q4 2023 stands at a low 0.38, which might suggest that the stock is undervalued relative to the company's assets.
However, the financials also reveal challenges. Altamira's operating income shows a substantial loss of -7.03 million USD over the same period, and the company has a negative return on assets of -55.29%, indicating difficulties in generating profit from its assets. Moreover, the stock's price performance has been concerning, with a 1-year price total return of -91.46%, significantly underperforming the market.
InvestingPro Tips for Altamira highlight several key points for investors to consider. The company holds more cash than debt on its balance sheet, which could provide some financial flexibility. Yet, analysts do not anticipate the company will be profitable this year, and the stock has experienced a significant price decline over the last year and is trading near its 52-week low. These factors could indicate both risk and potential opportunity for investors willing to take on higher risk for the possibility of a rebound.
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