Summary by Futu AI
Altamira Therapeutics Ltd. (Nasdaq: CYTO), a Bermuda-based biopharmaceutical company, has provided a business update and reported its full year financial results for 2023. The company, led by CEO Thomas Meyer, is transitioning to focus on RNA delivery technology for non-liver targets and has reported significant progress in its RNA delivery business, including new collaborations and potential new applications. Altamira has achieved an 85% reduction in net loss, bringing it down to CHF 3.9 million, and has eliminated its financial debt. The company ended the year with shareholders' equity of CHF 6.5 million, an improvement of CHF 14.8 million. Altamira's RNA delivery platforms, OligoPhore™ and SemaPhore™, have shown promise in preclinical development and have been validated across various animal disease models. The company...Show More