Altamira Therapeutics (NASDAQ:CYTO) stock is taking off on Wednesday after providing an update on its SemaPhore nanoparticle technology.
According to a press release from Altamira Therapeutics, SemaPhore has the potential to serve the messenger RNA (mRNA) applications market. This could see it serving as an alternative to lipid nanoparticles (LPL) with its own unique benefits.
Altamira Therapeutics points out that SemaPhore doesn’t have some of the same pitfalls that LPLs do. That includes delivering their cargo extra-hepatically, efficiently promoting cellular uptake, as well as offering a favorable tolerability profile.
In addition to all of that, SemaPhore also protects RNA cargo from degradation during transit. It does so without triggering an immune response in patients. That matters for uses that would see multiple administrations of the treatment.
What This Means for CYTO Stock
Considering the growing market for mRNA applications, SemaPhore could be a boon to CYTO stock. The company notes that data from Beacon RNA suggests mRNA vaccines and therapeutics in development have reached over 840. Of those, 356 are using LPLs for delivery.
Today’s news has shares of CYTO stock seeing heavy trading volume. As of this writing, more than 2.1 million shares of the stock have changed hands. For comparison, the company’s daily average trading volume is closer to 667,000 shares.
CYTO stock is up 64.4% during pre-market trading on Wednesday!
There’s more stock market news traders will want to read about below!
InvestorPlace has all of the hottest stock market coverage ready to go for Wednesday! Among that is what has shares of HeartCore Enterprises (NASDAQ:HTCR) stock up, the biggest pre-market stock movers this morning, and more. You can find all of this at the following links!
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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.