Altamira Therapeutics .(CYTO) - 2024 Q2 - Earnings Call Transcript

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]