Financial Data and Key Metrics Changes - Total operating expenses decreased from $3.9 million in 2024 to $2.6 million in 2025, a decline of 32.9% driven by lower general and administrative expenses and reduced R&D expenditure [16] - Net loss decreased by 64.6% to $1.5 million in 2025 compared to $4.3 million in 2024, primarily due to finance income of $1.7 million from the appreciation of intercompany loans [16] - Cash used in operations decreased by 56.8% from $3.2 million in the first half of 2024 to $1.4 million in 2025 [16] - Shareholders' equity amounted to $4.1 million as of June 30, 2025, compared to $6.6 million at year-end 2024 [16] Business Line Data and Key Metrics Changes - The company is transitioning to a platform model focusing on RNA delivery, which has led to a decrease in spending levels [15] - Significant progress in the RNA delivery business, with a focus on particle formulation and process development [8][9] - The company has established collaborations with multiple partners in the biotech and pharma industry, expanding its licensing strategy [11] Market Data and Key Metrics Changes - The circular RNA market is projected to grow at a rate of 15.2% from 2026 to 2033, potentially reaching $5.2 billion by 2033 [12] Company Strategy and Development Direction - The company plans to spin off a majority of its Swiss subsidiary, Altamira Therapeutics AG, to attract private equity investment [5][6] - The focus will shift to managing and monetizing legacy assets while enhancing the RNA delivery business [17][19] - The company aims to position itself as a classic holding company post-spin-off, with a focus on funding operations through various means [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress in the RNA delivery business and the potential for growth in RNA therapeutics [18][19] - The company acknowledges challenges in raising public market funding and is pursuing a different route with private equity involvement [18] Other Important Information - The company has made progress in transitioning its legacy products, including the BENCHEO nasal spray and AM-125 nasal spray, to new production sites and regulatory classifications [13][14] - A patent for AM-125 was obtained in Japan, expanding its intellectual property protection [14] Q&A Session Summary - No specific questions or answers were documented in the provided content.

Financial Data and Key Metrics Changes - Total operating expenses decreased from $3.9 million in 2024 to $2.6 million in 2025, a decline of 32.9% driven by lower general and administrative expenses and reduced R&D expenditure [16] - Net loss decreased by 64.6% to $1.5 million in 2025 compared to $4.3 million in 2024, primarily due to finance income of $1.7 million from the appreciation of intercompany loans [16] - Cash used in operations decreased by 56.8% from $3.2 million in H1 2024 to $1.4 million in H1 2025 [16] - Shareholders' equity amounted to $4.1 million as of June 30, 2025, down from $6.6 million at year-end 2024 [16] Business Line Data and Key Metrics Changes - The RNA delivery business is a key focus, with significant progress in particle formulation and process development [7][9] - The company has established collaborations with multiple partners, including Hekket Therapeutics and Universal Group, to leverage its RNA platform technology [11] - The legacy assets, including the BENCHO nasal spray and AM-125 nasal spray, are being transitioned to new production sites and regulatory classifications to enhance commercialization efforts [13][14] Market Data and Key Metrics Changes - The circular RNA market is projected to grow at a rate of 15.2% from 2026 to 2033, potentially reaching $5.2 billion by 2033 [12] - The company is focusing on expanding its RNA delivery platform to capitalize on the growing interest in circular RNA as a promising modality [10] Company Strategy and Development Direction - The company is shifting its focus to a platform model for RNA delivery, moving away from developing its own drug products [15] - A planned partial spin-off of the RNA delivery business aims to attract private equity investment and better capitalize the RNA delivery segment [5][18] - The company intends to manage and monetize its legacy assets while focusing on the growth of its RNA delivery business [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress in the RNA delivery business and the potential for future growth, contingent on appropriate funding [18] - The decision to pursue private equity involvement is seen as a beneficial alternative to public market funding, which has not been favorable [18][19] Other Important Information - The company has completed the transfer of manufacturing for its legacy products to enhance supply capabilities [13] - The approval process for the BENTURE product in China is advancing, which is expected to significantly boost the company's performance [14] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the call may have concluded without a formal Q&A session [21]

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 [21] - Research and development expenses rose to $3.7 million in 2024 from $3.4 million in 2023 [21] - General and administrative expenses decreased from $3.5 million in 2023 to $3.2 million in 2024 [21] - Net finance expense decreased from $1.5 million in 2023 to $0.8 million in 2024 [21] - The company's net loss for 2024 was $8.5 million compared to $4.3 million in the previous year [22] - Cash and cash equivalents at year-end 2024 rose to $1 million from $0.7 million at the end of 2023 [24] Business Line Data and Key Metrics Changes - The RNA delivery business continued to gain momentum with two new partners for the X4 platform and improvements in the manufacturing process [6] - The company filed a provisional patent application for circular RNA technology, which could open new collaboration opportunities [12] - Significant progress was made in the development and refinement of nanoparticles for RNA payload delivery [11] 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] Company Strategy and Development Direction - The company plans to spin off a majority of its Swiss subsidiary, Altamira Therapeutics AG, to focus on RNA delivery business [9] - The parent company will become more of a holding company, managing minority stakes in subsidiaries and legacy assets [9] - The company aims to advance at least one flagship program to an investigational new drug IND filing with the FDA in 2026 [14] Management's Comments on Operating Environment and Future Outlook - The delisting from NASDAQ was a significant setback, impacting the ability to raise capital in public markets [27] - The planned partial spin-off and involvement of private equity investors are seen as beneficial alternatives for funding and growth [27] - The company expects operating expenses to decrease significantly following the spin-off [24] Other Important Information - The financial results for 2024 were presented in U.S. dollars for the first time [20] - The company is in discussions with potential partners for its legacy assets, including nasal sprays for allergy and vertigo treatment [19] Q&A Session Summary - No specific questions or answers were documented in the provided content.

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]