Altamira Therapeutics Secures $12 Million in Public Offering

Altamira Therapeutics Completes Public Offering Successfully

Altamira Therapeutics Ltd. (NASDAQ: CYTO), committed to advancing RNA delivery technology, has successfully closed its public offering, garnering $12 million in total potential proceeds. This vibrant funding will fortify the company’s ongoing initiatives in the RNA therapeutics space beyond just liver applications.

Details of the Offering

The company announced a strategic public offering amounting to approximately 5,555,556 common shares, paired with associated warrants that could potentially increase gross proceeds. The offering price was set at $0.72 per share, with the company receiving about $4 million initially. Furthermore, if the milestone-linked warrants are fully exercised, an additional $8 million could flow into the company's coffers.

Warrants and Their Potential Impact

The Series A-1 and Series A-2 warrants accompany the common shares and are crucial for Altamira's financial strategy. The Series A-1 warrants are exercisable immediately and will expire based on the announcement of positive biodistribution data from key pharmaceutical enhancements, like AM-401 and AM-411 nanoparticles.

On the other hand, Series A-2 warrants can also be exercised right upon issuance but have a longer timeframe attached. Their expiration hinges on the company's engagement in development agreements relevant to the commercialization of these nanoparticles in crucial markets, such as the European Union or the United States.

Use of Proceeds

The anticipated proceeds from this offering are intended for bolstering corporate operations and enhancing working capital. This infusion of funds reflects the company’s commitment to advancing its proprietary delivery technology systems, which have significant applications across various RNA modalities.

Amendment of Existing Warrants

Additionally, the company has amended certain existing warrants initially issued in July 2023. Changes included a reduction in the exercise price from $9.00 to $0.72 per common share, extending the expiration also to five years post-offering. This modification demonstrates Altamira's adaptive strategy in refining their financial obligations and augmenting overall competitiveness.

About Altamira Therapeutics

Founded in 2003, Altamira Therapeutics (NASDAQ: CYTO) operates from Hamilton, Bermuda, and functions with significant research and operational activities based in Basel, Switzerland. The company specializes in developing peptide-based nanoparticle technologies aimed at enhancing RNA delivery across diverse tissues.

Altamira's primary pipeline focuses on two key siRNA programs targeting KRAS-driven cancer and rheumatoid arthritis, both of which are currently in preclinical development stages. Moreover, the company has created a versatile delivery platform suitable for various RNA types, which is also available for out-licensing opportunities to pharmaceutical and biotech entities.

Corporate Contact Information

For further inquiries, stakeholders can reach out to Altamira Therapeutics via email at hear@altamiratherapeutics.com.

Frequently Asked Questions

What is the total amount raised by Altamira Therapeutics?

Altamira Therapeutics raised a total of up to $12 million through its public offering.

What will the proceeds from the offering be used for?

The proceeds will support working capital and general corporate purposes, helping to advance their RNA delivery technologies.

What kinds of warrants are included in the offering?

The offering includes Series A-1 and Series A-2 common warrants, which can increase the proceeds if exercised.

Where is Altamira Therapeutics headquartered?

The company is headquartered in Hamilton, Bermuda, with significant operations based in Basel, Switzerland.

What are the primary therapeutic areas for Altamira's products?

Altamira focuses mainly on RNA-based therapies targeting cancer and rheumatoid arthritis.

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