Altamira Therapeutics Ltd. (CYTO) Q2 2024 Earnings Call Transcript

Written by Emily J. Thompson, Senior Investment Analyst

Source: SeekingAlpha

Updated: Sep 24 2024

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Source: SeekingAlpha

Total Operating Loss from Continuing Operations $3.9 million (4% increase from $3.6 million in H1 2023); increase primarily due to higher R&D expenditures.

Research and Development Expenses $2 million (32.6% increase from H1 2023); increase attributed to intensified R&D activities.

General and Administrative Expenses $2 million (11.7% decrease from H1 2023); decrease due to cost optimization efforts.

Net Loss from Continuing Operations $4.3 million (4% decrease from $4.5 million in H1 2023); decrease attributed to lower finance expenses.

Net Loss for the First Half of 2024 $4.3 million (27% decrease from $5.9 million in H1 2023); decrease due to no after-tax loss from discontinued operations in H1 2024.

Cash Used in Operations $3.2 million (62% decrease from $8.4 million in H1 2023); decrease due to reduced cash burn rate.

Cash and Cash Equivalents $65,000 (18% increase from $55,000 in H1 2023); slight increase in cash position.

Shareholders' Equity $6.3 million (18% decrease from $7.7 million at year-end 2023); decrease due to net losses.

Financing Activities $2.5 million in H1 2024 (70% decrease from $8.4 million in H1 2023); decrease attributed to lower financing activities.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.