Altamira Therapeutics Unveils $12 Million Public Offering Details

Overview of the Offering by Altamira Therapeutics

Altamira Therapeutics Ltd. (Nasdaq: CYTO), based in Hamilton, Bermuda, is making waves in the biotech sector with its recent announcement of a public offering aimed at raising funds to further enhance its innovative RNA delivery technologies. This offering includes a combination of common shares and warrants designed to bolster the company's financial standing and support its ongoing research initiatives.

Details of the Offering

The public offering comprises approximately 5,555,556 common shares, or the option for pre-funded warrants instead, alongside common warrants labeled Series A-1 and Series A-2. Each of these warrants provides the opportunity to purchase additional shares at a price of $0.72 per share. Investors can anticipate a combined public offering price of $0.72 for the shares and the accompanying warrants.

Milestone-Linked Structure

What makes this offering particularly attractive are the milestone-linked Series A-1 and Series A-2 common warrants. The Series A-1 warrants give holders the right to purchase shares at $0.72, with an expiration tied to specific developmental milestones related to the Company's pioneering nanoparticles, AM-401 and AM-411. These milestones include the release of positive biodistribution data, which is critical in the development of cancer and rheumatoid arthritis therapies.

Financial Implications

The projected gross proceeds from the initial tranche of the offering stand at around $4 million before deducting any fees or expenses related to the placement. Potentially, if the warrants are fully exercised over time, Altamira Therapeutics could see an additional $8 million in gross proceeds. However, there remains uncertainty surrounding the actual exercise of these warrants.

Use of Proceeds

The funds raised through this public offering will primarily be allocated towards working capital and general corporate needs. This financial infusion will significantly support Altamira’s commitment to advancing its drug delivery platforms, which aim to enhance the efficacy of RNA-based therapies.

Recent Developments in Technology

Altamira Therapeutics is at the forefront of developing peptide-based nanoparticle technologies that facilitate efficient RNA delivery. Its two flagship programs focus on addressing KRAS-driven cancers with AM-401 and treating rheumatoid arthritis with AM-411. Both projects are currently in preclinical stages, showcasing the company’s dedication to impactful treatments beyond traditional liver-targeted approaches.

Collaborations and Partnerships

In addition to its internal projects, Altamira is actively exploring partnerships and opportunities to license its advanced delivery technologies to other pharmaceutical and biotechnology entities. These collaborations are critical as they allow for broader applications of their innovative OligoPhore™ and SemaPhore™ platforms.

Moreover, Altamira holds a considerable stake in Altamira Medica AG, where it is commercializing Bentrio®, an over-the-counter nasal spray targeting allergic rhinitis. The company's strategy focuses not only on innovation but also on diversifying its product offerings across various therapeutic areas.

Looking Ahead

Altamira Therapeutics, established in 2003, continues to position itself as a leader in the biopharmaceutical industry by leveraging its cutting-edge technologies and strategic partnerships. The anticipated closing of this offering, expected to take place shortly, exemplifies the company’s proactive approach toward growth and development in a highly competitive landscape.

Frequently Asked Questions

What is the purpose of Altamira's public offering?

The offering is intended to raise funds for working capital and support the development of RNA delivery technologies.

How much capital is Altamira aiming to raise?

Altamira is targeting gross proceeds of up to $12 million, including initial and potential warrant exercises.

What type of securities are being offered?

The offering includes common shares and common warrants, providing options for investors to participate in the company’s growth.

What are the key products being developed by Altamira?

Altamira is focusing on AM-401 for KRAS-driven cancer and AM-411 for rheumatoid arthritis, which are both in preclinical stages.

Where can more information about Altamira Therapeutics be found?

Further details about the company's projects and updates can be found on their official website.

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