Altamira Therapeutics (NASDAQ: CYTO) stock surged during intraday trading Thursday after the company announced promising SAR trial results for Bentrio nasal spray.
Altamira Therapeutics (CYTO) recently announced promising results from a clinical trial evaluating its Bentrio nasal spray for seasonal allergic rhinitis (SAR). The company showcased the findings of the NASAR clinical trial, which enrolled 100 patients in Australia, through a video presentation on the social media channels of the allergology journal, “Allergy.”
In this double-blind study, Bentrio, a drug-free nasal spray, was compared to a saline solution over two weeks, with patients receiving the treatment three times daily. The results revealed that Bentrio significantly reduced the mean daily reflective Total Nasal Symptom Score (rTNSS) compared to the saline solution, achieving its primary efficacy endpoint with a p-value of 0.013.
The trial also met secondary endpoints, including improvements in health-related quality of life and higher global ratings of efficacy by both patients and investigators, with statistical significance.
Bentrio works by forming a protective barrier in the nasal cavity. The trial showed it was well-tolerated, with a safety profile comparable to saline. In addition, fewer patients treated with Bentrio required relief medication, and more experienced symptom-free days compared to those in the saline group.
Thomas Meyer, founder, Chairman, and CEO of Altamira, expressed his enthusiasm for the positive impact Bentrio could have on individuals suffering from allergic rhinitis. He highlighted ongoing discussions for expanding Bentrio’s market presence, with plans to secure distribution in the US, Europe, and other key markets by 2024.
Altamira, known for its RNA delivery technology for non-liver targets, holds a 49% stake in Altamira Medica AG, the entity responsible for marketing Bentrio. The company anticipates significant sales growth starting in 2024, driven by the product’s launch in new countries.
Altamira Therapeutics (NASDAQ: CYTO) Stock Reaction
On Thursday, CYTO stock soared 19.58%, closing at $1.71, marking a 9.62% increase for the week. The trading volume was 51,737,752 shares, significantly higher than the average daily volume of 2 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
