Why Are Altamira Therapeutics Shares Gaining Today?

Altamira Therapeutics Ltd (NASDAQ: 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.

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