Altamira Therapeutics Announces Closing of up to $12.0 Million Public Offering

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].