Why Are Altamira Therapeutics Shares Gaining Today?

Altamira Therapeutics Ltd CYTO shares are surging after announcing preclinical efficacy data from testing its Bentrio nasal spray against the omicron variant of the SARS-CoV-2 virus.
Bentrio is a drug-free nasal spray for protection against airborne viruses and allergens.
Prophylactic application of Bentrio starting 10 minutes before viral inoculation resulted in a significant reduction of 89.5% in viral titer after 24 hours compared to the saline-treated controls.
When the treatment application was started only 24 hours after viral inoculation, the application of Bentrio resulted in a significant reduction in viral titer over the following days compared to saline controls, reaching 87.1% at its maximum on Day 3.
As reported earlier this week, Altamira has initiated a COVAMID trial to evaluate the ability of Bentrio to reduce the SARS-CoV-2 viral load in the nose, alleviate COVID-19 signs and symptoms, and decrease the frequency of COVID-19 related hospital admissions.
The "COVAMID" study will enroll 136 confirmed COVID-19 patients who will be randomized to receive for 10 days either Bentrio, a placebo, or no treatment, followed by a 10-day observation phase.
Price Action: CYTO shares are up 25.50% at $0.87 during the market session on the last check Friday.