Altamira Therapeutics Successful Completion of $12 Million Offering

Altamira Therapeutics Closes $12 Million Public Offering

Altamira Therapeutics Ltd. (Nasdaq: CYTO), known for its commitment to developing advanced RNA delivery technology, has successfully completed its public offering. The offering raised an impressive total of $12 million, which includes an upfront payment of $4 million and has the potential for an additional $8 million through the exercise of milestone-linked warrants.

Details of the Public Offering

The public offering consisted of 5,555,556 common shares, along with pre-funded warrants and Series A-1 and Series A-2 common warrants. The shares were priced at $0.72 each, and the offering included warrants that allow for the purchase of an equal number of common shares. The Series A-1 common warrants are immediately exercisable and will expire either 18 months after issuance or 60 days following the announcement of significant biodistribution data for specific nanoparticles developed by the Company. Meanwhile, the Series A-2 warrants will expire five years from the issuance date or six months after pivotal agreements related to further product development are announced.

Financial Outlook and Use of Proceeds

From this offering, the Company expects to receive around $4 million in gross proceeds, before accounting for placement fees and other associated expenses. Should the warrants be fully exercised, an additional $8 million could flow into the Company’s coffers. The proceeds from this offering will primarily support working capital needs and general corporate purposes, aiming to further fuel the Company's innovative pursuits in the biotech space.

Warrant Amendments and Strategic Moves

In conjunction with this public offering, Altamira Therapeutics also made strategic amendments to existing warrants. Previously issued warrants to buy up to 555,556 common shares at a $9.00 exercise price were updated. Now, these warrants have a new exercise price of $0.72 and will remain valid for five years after the offering closes. This adjustment is aimed at enhancing shareholder value and making the warrants more accessible to investors.

About Altamira Therapeutics

Altamira Therapeutics (Nasdaq: CYTO) is at the forefront of developing peptide-based nanoparticle technologies that facilitate efficient RNA delivery beyond the liver. The Company is currently advancing two major siRNA programs: AM-401 and AM-411, targeting KRAS-driven cancers and rheumatoid arthritis, respectively. Both programs are in preclinical stages, highlighting the innovative potential of the technology the Company has cultivated since its inception in 2003.

Innovations in RNA Delivery

The OligoPhore™ and SemaPhore™ platforms stand out due to their versatility, enabling the delivery of various RNA modalities, including mRNA. Altamira has also made its advanced delivery technology available for out-licensing, enhancing collaboration with pharmaceutical and biotech companies aiming to harness novel therapeutic approaches.

Legacy Products and Future Development

In addition to its pipeline, Altamira Therapeutics holds a significant 49% equity stake in Altamira Medica AG, responsible for the commercially available Bentrio®, an over-the-counter nasal spray designed for allergic rhinitis. As part of its strategic vision, the Company is assessing partnerships and divestments for legacy assets related to inner ear treatments, seeking opportunities that align with its forward-looking objectives.

Frequently Asked Questions

What is the total amount raised by Altamira Therapeutics in this offering?

Altamira Therapeutics has raised a total of $12 million through its latest public offering.

What are the Series A-1 common warrants?

These warrants allow the purchase of common shares at an exercise price of $0.72 and are immediately exercisable.

How does Altamira plan to use the proceeds from the offering?

The proceeds will be used for working capital and general corporate purposes to support ongoing and future projects.

What is the significance of the amendments to existing warrants?

The amendments reduce the exercise price to $0.72, making them more attractive and accessible for investors.

What key areas is Altamira Therapeutics focusing on with its RNA delivery technology?

Altamira is focusing on developing treatments for KRAS-driven cancers and rheumatoid arthritis using its innovative RNA delivery platforms.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.