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 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, which fell by 37.4% to $1.2 million, and reduced research and development expenditure, down by 25.3% to $1.5 million [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 and lower finance expenses [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 focused 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 for various RNA platforms [7][10] - 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, transitioning to a holding company model [5][6] - The focus will be on monetizing legacy assets while enhancing the RNA delivery business through partnerships and collaborations [5][19] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the RNA delivery business's progress and the potential for growth, emphasizing the need for appropriate funding [18] - The decision to pursue a partial spin-off is seen as a beneficial alternative to accessing capital through public markets [18][19] Other Important Information - The company has made progress in transitioning its medical device, Ventrion, to comply with new EU regulations, with expected completion in late 2025 or early 2026 [14] - A patent for AM-125 nasal spray has been obtained in Japan, expanding intellectual property protection [14] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.