Drug test trials can do wonders for healthcare stocks, assuming they come out well and allow a drug under development to get that much closer to a full commercial release. Thankfully, that’s just what happened to Altamira Therapeutics (NASDAQ:CYTO) recently, as its phase 2 trial on a new drug meant to counter vertigo went well and sent shares up over 40% at the time of writing.
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The phase 2 trial in question focused on Altamira’s AM-125, described as an “intranasal betahistine” that was meant to treat “surgery-induced acute vestibular syndrome,” or AVS. AVS is basically a kind of vertigo that shows up suddenly and sticks around for potentially over 24 hours, complete with nausea or even outright vomiting. AM-125, meanwhile, was proven to be easily tolerated by those who took it, and offered “time-dependent improvement” in balance and other symptoms. Betahistine in a nasal spray, notes Altamira founder Thomas Meyer, addresses a major shortfall of the drug: its poor tolerance to oral treatment.
But that’s not all that gave Altamira a lift. It also offered news on its work in nanoparticle technology, specifically its SemaPhore nanoparticle systems. SemaPhore is potentially useful in the mRNA market, which is on the rise in treating several diseases including COVID-19.
Looking at the last five trading days for Altamira stock shows that trading is extremely volatile. Altamira shares had been up and down for the four days preceding today’s huge bounce. Moreover, Altamira actually lost quite a bit of its big bounce as the trading day went on. However, much of this is likely connected to Altamira’s overall share price, which is sufficently low that even a slight movement in any direction triggers a hefty change percentage-wise.
