Atossa Genetics Inc (NASDAQ:ATOS)
Atossa Genetics Inc (NASDAQ:ATOS) stock fell on the open then rallied on heavy volume to finish the day with a 29% gain – closing at $0.62. ATOS shareholders have seen the stock move up by 24% for the week on the back of a company announcement that the Ernest Mario School of Pharmacy at Rutgers, The State University at New Jersey, plans to conduct a study utilizing Atossa’s intraductal microcatheter technology. Atossa Genetics is a clinical-stage drug company developing novel, proprietary therapeutics and delivery methods for breast cancer and other breast conditions.
The Rutgers program is in the research and development phase and has not been approved by the U.S. Food and Drug Administration (FDA) or any other regulatory body. Studies demonstrating safety and efficacy, among other things, and regulatory approvals will be required before commercialization. The Rutgers researchers believe that directly administering drugs into the breast duct where breast cancer grows, by inserting microcatheters into the nipple, is a better alternative than systemic administration, because the drugs will be directly delivered to the tissue. The Rutgers program uses a unique directed delivery system comprised of nanoscale pharmaceutical carriers loaded with single drugs.
Steven Quay, MD, PhD, Atossa CEO and President of Atossa Genetics Inc (NASDAQ:ATOS) stated in a press release “We are encouraged that a leading research institution like Rutgers recognizes the potential merit of our microcatheter technology. Atossa fully supports additional research utilizing our patented microcatheter technology,”.
ATOS Stock Performance
Although down over 65% for the year, in the past quarter ATOS shareholder have seen their stock gain over 60%. Currently ATOS stock is about double its 52-week low of $0.32 but still far from its 52-week high of $2.60.
Atossa Genetics Inc (NASDAQ:ATOS) has posted no sales over the past three years. On the plus side, it has seen shrinking losses over the past four years and in 2016 reported a per share loss of (-$2.16). However ATOS shareholders should be aware that the number of outstanding shares has increased every year – resulting in shareholder’s equity being diluted. According to reports, ATOS has a consensus 1-year price target among analysts of $26.25.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.