Altamira Therapeutics (NASDAQ:CYTO) stock is rocketing higher on Friday following the release of positive results from a nasal spray test.
Altamira Therapeutics is testing out its Bentrio nasal spray for protection against the Delta variant of Covid-19. The nasal spray was effective against the Alpha variant, which promoted tests against the Delta variant.
This experiment saw the company testing out the nasal spray for protection before and after exposure to the Delta variant. When applied before, this resulted in virus titers of -83%. For those taking it after exposure, the numbers range from -69% to -85%.
Thomas Meyer, founder, chairman, and CEO of Altamira Therapeutics, said this in the news release boosting CYTO stock today.
“We are very pleased to see the protective effects of Bentrio against SARS-CoV-2 confirmed also with the highly contagious and fast replicating Delta variant. These fresh results provide further support for the broad applicability of Bentrio.”
Altamira Therapeutics is currently planning to expand its testing of Bentrio against the Delta variant. That includes plans for efficacy and safety in a COVID-19 clinical trial. The company is waiting for approval from the Drugs Controller General of India before starting this study.
The positive Covid-19 news has CYTO stock seeing heavy trading today. As of this writing, more than 145 million shares of the stock have been traded. That’s quite the boost over the company’s daily average trading volume of about 237,000 shares.
CYTO stock was up 67.8% as of Friday morning.
There’s more hot stock news to dive into below!
InvestorPlace is home to all of the latest stock news that traders need to know about. Among that is why marijuana stocks are moving higher today, what has Sundial Growers (NASDAQ:SNDL), and the latest on HeartBeam (NASDAQ:BEAT). You can learn about these matters from the following links!
More Friday Stock Market News
- SNDL, TLRY, ACB, CGC: Why Are Marijuana Stocks Up Today?
- SNDL Stock: The Good News That Has Cannabis Play Sundial Growers Heading Higher Today
- HeartBeam IPO: Why BEAT Stock Has Investors’ Hearts Racing Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed