UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUANT T ...

Altamira Therapeutics (CYTO) H2 2024 Earnings Call April 30, 2025 08:00 AM ET Company Participants None - ExecutiveThomas Meyer - Chairman, CEO & DirectorCovadonga Pañeda - COO Operator Good day, and welcome to the Ultomira Therapeutics Full Year twenty twenty four Financial Results and Business Update Call. Today's conference is being recorded. I would now like to hand the conference over to your first speaker. Please go ahead. None Good morning, and welcome to the Ultomira Therapeutics Full Year twenty tw ...

Financial Data and Key Metrics Changes - Total operating loss from continuing operations increased from $6.6 million in 2023 to $6.9 million in 2024 [22] - Research and development expenses rose to $3.7 million in 2024 from $3.4 million in 2023 [22] - General and administrative expenses decreased from $3.5 million in 2023 to $3.2 million in 2024 [22] - Net loss for 2024 was $8.5 million compared to $4.3 million in the previous year [23] - Cash and cash equivalents at year-end 2024 increased to $1 million from $700,000 at the end of 2023 [25] Business Line Data and Key Metrics Changes - The RNA delivery business showed progress with new partnerships and improved manufacturing processes [6] - The company aims to advance at least one flagship program to an investigational new drug IND filing with the FDA in 2026 [14] - The legacy assets, including the nasal spray products, are expected to see significant commercial opportunities with ongoing discussions for partnerships [20] Market Data and Key Metrics Changes - The global radiopharmaceutical market reached $8.4 billion in size in 2024 and is expected to grow to $17.1 billion by 2033 [13] - The company received marketing approval for its nasal spray in Mainland China, indicating a major commercial opportunity [17] Company Strategy and Development Direction - The company plans to spin off a majority of its RNA delivery subsidiary, Altamira Therapeutics AG, to better capitalize on growth opportunities [8] - The strategy includes licensing the RNA delivery platform technology to partners in the biotech and pharma industry [12] - The company is transitioning to a holding company model, focusing on managing and monetizing its participations and assets [25] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the NASDAQ delisting but expressed optimism about the planned spin-off and private equity involvement [28] - The company is focused on building its RNA delivery business and addressing the potential for RNA therapeutics [28] Other Important Information - The financial statements for 2024 were presented in U.S. dollars for the first time, reflecting a shift in reporting [20] - The company has filed several patent applications to protect its proprietary programs [14] Q&A Session Summary Question: What are the expectations for the RNA delivery business? - Management highlighted the growing momentum in the RNA delivery business and the importance of appropriate funding to continue progress [27] Question: How does the company plan to address the NASDAQ delisting? - Management discussed the painful experience of the delisting but emphasized the planned spin-off and private equity involvement as beneficial alternatives [28]

Core Viewpoint - Altamira Therapeutics Ltd. will be delisted from Nasdaq due to non-compliance with minimum bid price requirements and will transition to trading on the OTCQB marketplace under the ticker symbol "CYTOF" [1][4]. Group 1: Company Transition - The Nasdaq Hearings Panel determined to delist the Company's common shares due to failure to comply with Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share [1]. - The transition to OTCQB is seen as an opportunity for the Company to focus on growth without the pressure of the minimum bid price rule, eliminating the need for a reverse stock split [2][4]. - The common shares will begin trading on OTCQB on December 20, 2024, ensuring uninterrupted market activity for shareholders [4]. Group 2: Company Operations and Products - Altamira Therapeutics is developing RNA delivery technologies, specifically peptide-based nanoparticle technologies for efficient RNA delivery to extrahepatic tissues [2]. - The Company has two flagship siRNA programs in preclinical development: AM-401 for KRAS driven cancer and AM-411 for rheumatoid arthritis [2]. - Altamira holds a 49% stake in Altamira Medica AG, which has a commercial-stage asset, Bentrio®, an OTC nasal spray for allergic rhinitis [2].

Financial Data and Key Metrics Changes - Total operating loss from continuing operations was $3.9 million in the first half of 2024, compared to $3.6 million in the same period of 2023, primarily due to a 32.6% increase in research and development expenses to $2 million [21] - Net loss from continuing operations reached $4.3 million in the first half of 2024, which was 4% lower than the corresponding period in 2023 [21][22] - Cash used in operations decreased from $8.4 million in the first half of 2023 to $3.2 million in the first half of 2024 [23] Business Line Data and Key Metrics Changes - The company is focusing on its new core business of RNA delivery, with significant progress in the development of the OligoPhore and SemaPhore platforms [4][5] - The development of flagship programs AM-401 and AM-411 is ongoing, targeting KRAS-driven cancers and rheumatoid arthritis, respectively [5][12] Market Data and Key Metrics Changes - The company expects significant revenue increases in 2025 from the anticipated launches of Bentrio in Mainland China and Southeast Asia, as well as in Sweden and Denmark [16][27] - The Bentrio nasal spray is being marketed in new territories, with a focus on expanding distribution in Southeast Asia and Scandinavia [15][16] Company Strategy and Development Direction - The company is transitioning to a less capital-intensive business model focused on revenues from contract development and licensing rights for RNA delivery technology [6] - The strategy includes divesting or licensing out legacy assets while optimizing the cost structure [6][19] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of mRNA therapeutics, emphasizing that the use of mRNA can revolutionize medicine by enhancing biological activities [30][32] - The company is optimistic about the progress in its RNA delivery programs and the potential for significant collaborations with other pharma and biotech companies [26][27] Other Important Information - The company raised $4 million in a public offering to strengthen its financial position and support the transition to the new business model [7][24] - The financial statements are now presented in U.S. dollars rather than Swiss francs, with the income statement for the first half of 2023 revised due to the partial divestiture of the Bentrio business [20] Q&A Session Summary Question: Discussion on Bentrio's distribution in Sweden and Denmark - Management highlighted the marketing strategy in Norway, which includes working with allergologists and ENT physicians, as well as utilizing social media for promotion [28][29] Question: Impact of larger mRNA companies cutting R&D budgets - Management noted that while larger companies may adjust their focus, the potential of mRNA therapeutics remains significant, and the company sees this as an opportunity rather than a setback [30][32]

Core Business Update - Altamira Therapeutics is making significant progress in RNA delivery technology, particularly through its OligoPhore and SemaPhore platforms, with a focus on nanoparticle formulation and process development [3][4] - The company has reported promising in vivo data showing effective mRNA delivery that resulted in substantial tumor growth reduction in cancer models [2][4] - Altamira is advancing its flagship programs AM-401 and AM-411, targeting KRAS-driven cancers and rheumatoid arthritis, respectively, and is exploring applications in cardiac regeneration and mRNA vaccines [2][3] Financial Performance - For the first half of 2024, Altamira reported a total operating loss of $3.9 million, slightly higher than the $3.6 million loss in the same period of 2023, primarily due to increased R&D expenditures [17][19] - The net loss from continuing operations was $4.3 million, a 4% decrease compared to the previous year, with cash used in operations decreasing significantly from $8.4 million to $3.2 million [17][18] - The company expects total cash needs for 2024 to be between $5.8 million and $7.0 million, with recent financing activities raising $2.5 million [20] Product Development and Collaborations - Altamira has filed patent applications for its proprietary programs AM-401 and AM-411, aiming to enhance its intellectual property protection [7] - The company is pursuing a 'picks and shovels' strategy by licensing its RNA delivery technology to partners in the biotech and pharma industries, with collaborations already established with Heqet Therapeutics and Univercells Group [8][9] - Altamira's associate, Altamira Medica AG, is expanding the distribution of its Bentrio® nasal spray for allergic rhinitis into new territories, including Southeast Asia and Scandinavia [10][11] Research and Development Achievements - Recent publications have validated the effectiveness of Altamira's RNA delivery platforms, demonstrating significant therapeutic effects in various disease models [4][5] - The company has improved nanoparticle stability, addressing a key challenge in RNA formulation handling and transport [6] - Altamira continues to simplify its corporate structure to align with its strategic focus on RNA delivery, including the divestiture of its Bentrio activities [15][16]

Core Insights - Altamira Therapeutics Ltd. will host its First Half 2024 Financial Results and Business Update Call on September 24, 2024, featuring remarks from CEO Thomas Meyer and COO Covadonga Pañeda, followed by a Q&A session [1] Company Overview - Altamira Therapeutics (Nasdaq: CYTO) specializes in nanoparticle-based technology for efficient RNA delivery to extrahepatic tissues, utilizing its OligoPhore™ and SemaPhore™ platforms [3] - The company is advancing two flagship siRNA programs: AM-401 targeting KRAS-driven cancer and AM-411 for rheumatoid arthritis, both currently in preclinical development beyond in vivo proof of concept [3] - Altamira's delivery platform is adaptable for mRNA and other RNA modalities, available for out-licensing to pharmaceutical and biotech companies [3] - The company holds a 49% stake in Bentrio®, an OTC nasal spray for allergic rhinitis, and is exploring partnerships or divestments for its inner ear legacy assets [3] - Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with primary operations in Basel, Switzerland [3]

Core Viewpoint - Altamira Therapeutics Ltd. has successfully closed a public offering, raising approximately $4 million, with potential additional proceeds of up to $8 million from milestone-linked warrants [1][3]. Group 1: Offering Details - The public offering consisted of 5,555,556 common shares at a price of $0.72 per share, along with Series A-1 and Series A-2 common warrants [1]. - Series A-1 common warrants have an exercise price of $0.72, are immediately exercisable, and expire either 18 months after issuance or 60 days after positive biodistribution data is announced [1]. - Series A-2 common warrants also have an exercise price of $0.72, are immediately exercisable, and expire either five years after issuance or six months after entering into development agreements for AM-401 or AM-411 [1]. Group 2: Financial Implications - The gross proceeds from the offering were approximately $4 million before deducting fees and expenses, with potential additional proceeds of about $8 million if all warrants are exercised [3]. - The net proceeds from the offering will be used for working capital and general corporate purposes [3]. Group 3: Company Background - Altamira Therapeutics is focused on developing RNA delivery technology for targets beyond the liver, with two flagship siRNA programs, AM-401 for KRAS-driven cancer and AM-411 for rheumatoid arthritis, currently in preclinical development [7]. - The company also holds a 49% stake in Altamira Medica AG, which markets Bentrio®, an OTC nasal spray for allergic rhinitis [7]. - Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with operations in Basel, Switzerland [8].

Core Viewpoint - Altamira Therapeutics Ltd. has announced a public offering of common shares and warrants, aiming to raise approximately $4 million upfront, with potential additional proceeds of up to $8 million from the exercise of warrants [1][3]. Group 1: Offering Details - The public offering includes 5,555,556 common shares priced at $0.72 each, along with Series A-1 and Series A-2 common warrants, each allowing the purchase of an equal number of shares at the same price [1]. - The Series A-1 warrants will expire either 18 months after issuance or 60 days after positive biodistribution data is announced for AM-401 or AM-411 [1]. - The Series A-2 warrants will expire either five years after issuance or six months after entering agreements for further development and commercialization of AM-401 or AM-411 [1]. Group 2: Financial Proceeds and Use - The expected gross proceeds from the offering are approximately $4 million before fees and expenses, with an additional potential $8 million if all warrants are exercised [3]. - The net proceeds from the offering will be used for working capital and general corporate purposes [3]. Group 3: Company Background - Altamira Therapeutics is focused on developing RNA delivery technology for targets beyond the liver, with two flagship siRNA programs, AM-401 for KRAS-driven cancer and AM-411 for rheumatoid arthritis, currently in preclinical development [7]. - The company also holds a 49% stake in Altamira Medica AG, which markets Bentrio®, an OTC nasal spray for allergic rhinitis [8]. - Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with operations in Basel, Switzerland [8].

Core Insights - Altamira Therapeutics Ltd. has made significant advancements in immune checkpoint inhibitor therapy using Zbtb46 mRNA delivered via SemaPhore nanoparticles, showing promising results in animal tumor models with a significant tumor size reduction (p<0.0001) [1] - The Zbtb46 gene plays a crucial role in modifying the tumor microenvironment, enhancing the effectiveness of anti-PD1 treatments and leading to improved outcomes in cancer patients [2] - Altamira Medica's Bentrio nasal spray has been confirmed free of WADA prohibited substances, making it safe for athletes and addressing allergy management without doping risks [2] - Preclinical data indicates that SOD2 mRNA delivered via SemaPhore nanoparticles significantly reduces abdominal aortic aneurysm progression and improves survival rates (p<0.01) [3][4] - Altamira Therapeutics is expanding the distribution of Bentrio to Sweden and Denmark following its successful launch in Norway, aiming to establish a strong presence in the Scandinavian market [5] Company Developments - Altamira Therapeutics focuses on RNA-based treatments for non-liver targets using its OligoPhore and SemaPhore delivery platforms, with ongoing preclinical projects targeting KRAS-driven cancer and rheumatoid arthritis [6] - The company is divesting or out-licensing its legacy assets in allergology, viral infection, and inner ear therapeutics to streamline its focus on core projects [6] Research and Collaboration - The research on Zbtb46 mRNA was conducted by the Pathology & Immunology Department of Washington University School of Medicine, indicating strong academic collaboration [1] - The study on SOD2 mRNA was a joint effort between Washington University in St. Louis and the University of South Florida, highlighting the collaborative nature of Altamira's research initiatives [3][4]