Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) Q3 Earnings Disappoint

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) fell 4.4% as investors reacted to the company’s third quarter financial results and corporate update. The clinical stage pharmaceutical company did not report any revenue for the three months ended September 30, 2017, as it is in the research and development phase.

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa’s Pipeline Development

Operating expenses for the quarter totaled $2.1 million and $5.6 million for the first nine months of the year. Research and development expenses in the quarter increased to $0.7 million from $0.1 million reported last year.

During the quarter, Atossa Genetics Inc. (NASDAQ:ATOS) announced preliminary results from a Phase 1 study of its lead candidate drug Endoxifen. The drug met its primary endpoint with no significant safety signal or adverse events.

Atossa Genetics is currently preparing for a Phase 2 study that will evaluate Endoxifen for the treatment of women with mammographic breast density. The study will be conducted in partnership with the Stockholm South General Hospital in Sweden.

“We are very pleased with our recent clinical progress with our Endoxifen programs. Preliminary results from our Phase 1 study show that all objectives of both our proprietary topical and oral formulations of Endoxifen have been met. We recently raised capital to support advancement of our Endoxifen,” said CEO, Steve Quay

Atossa Genetics Inc. (NASDAQ:ATOS) underperformance continued in the market following the third quarter financial results. The stock is currently languishing as it closes in on its 52-week low of $0.32 a share. The stock has shed more than 70% in market value since the start of the year. As it stands, the stock needs a new catalyst if it is to bounce back.

ATOS Public Offering Impact

Declining investor confidence in Atossa Genetics follows the pricing of a public offering of the company’s common shares at a deep discount. The move did not go well with investors. The public offering’s pricing triggered a selloff of the stock to current lows.

Atossa Genetics issued 11.5 million shares of common stock priced at $0.44 a share. The company also offered underwriters the option of purchasing an additional 1 million shares pursuant to the over-allotment option.

Gross proceeds before deduction of underwriting discounts commissions and the offering costs were approximately $5.5 million. Atossa Genetics Inc. (NASDAQ:ATOS) plans to use net proceeds from the offering for general corporate purposes.

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.

Don’t miss out! Stay informed on $ATOS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) Drops

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) felt the wrath of Wall Street after announcing the pricing of a $5.1 million public offering of common stock. Shares of the clinical stage pharmaceutical company fell 46.9%, to end Thursday’s trading session at $0.45 a share.

Atossa Genetics Inc. (NASDAQ:ATOS)

Public Offering Reaction

The company has priced 11.5 million shares of common stock at a public offering price of $0.44 a share. Atossa Genetics Inc. (NASDAQ:ATOS) has also granted underwriters an overallotment option for the purchase of 1 million additional shares of common stock. Gross proceeds before deduction of underwriting discounts, commissions, and other estimated offering costs should be about $5.1 million.

Atossa Genetics Inc. (NASDAQ:ATOS) plans to use net proceeds from the offering for general corporate purposes. The offering should close on or about October 30, 2017.

The $5.1 million public offering appears to have spooked investors as the stock dropped from $1.50 a share to $0.45. Following the slump, the stock is now down by more than 40% for the year.

Oral Endoxifen Trials

The pricing of the public offering comes just days after the clinical stage pharmaceutical company announced preliminary results from its Phase 1 study of Oral Endoxifen. The company is investigating the drug for the treatment of recurrent breast cancer.

Trial results indicate that Endoxifen met all its objectives with no clinically significant safety signals or adverse events reported. Oral Endoxifen was also well tolerated at each dose levels. According to Atossa Genetics Inc. (NASDAQ:ATOS), the study results demonstrate the sustainability of oral Endoxifen for further clinical development.

“Based on these positive preliminary results, we are advancing our oral Endoxifen into Phase 2 studies,” commented Dr. Steven C. Quay, CEO, and President. “We expect our initial Phase 2 study will be in women who are refractory to Tamoxifen and we expect to begin that study in the first quarter of 2018,” continued Dr. Quay.

Estimates indicate that about 250,000 women will be diagnosed with breast cancer in the U.S this year with 40,000 expected to die. Breast cancer is the second leading cause of cancer death in the US. Atossa Genetics Inc. (NASDAQ:ATOS) estimates the potential market for its oral and tropical formulation of Endoxifen if approved at over $1 billion.

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.

Don’t miss out! Stay informed on $ATOS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Atossa Genetics Inc (NASDAQ:ATOS)

Atossa Genetics Inc (NASDAQ:ATOS) Continuing Upward Move

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.

Atossa Genetics Inc (NASDAQ:ATOS)

Rutgers Study

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.

Don’t miss out! Stay informed on $ATOS and receive breaking news on other hot stocks by signing up for our free newsletter!

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.

Atossa Genetics Inc. (NASDAQ:ATOS) Reports Topline Trial Results

Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. (NASDAQ:ATOS) slumped 11.95% after announcing preliminary results from a Phase 1 study of its novel treatment for  breast cancer, Endoxifen.  Thursday’s sell-off came as a surprise given that it came after positive news. The stock has also been on an impressive run since the start of the month.

The stock is currently trading in a $0.54 – $0.93 trading range after gapping lower in March. It faces immediate resistance at the $1.00 a share mark above which it could rise to the $1.50.

Atossa Genetics Inc. (NASDAQ:ATOS)
One month ATOS stock price chart

Endoxifen Phase 1 Results

The clinical stage pharmaceutical company says its novel treatment for breast cancer, Endoxifen, was well tolerated at all dose levels, during the phase 1 trial. The treatment tropical formulation did not trigger any significant safety signals or adverse events. The top line results thus demonstrated its suitability for further clinical development.

“Based on these positive preliminary results, we are advancing our topical Endoxifen into Phase 2 studies,” commented Dr. Steven C. Quay, CEO, and President.  “We look forward to announcing the results from the oral arm of our Phase 1 study in the coming 30 to 60 days,” continued Dr. Quay.

Atossa Genetics Inc. (NASDAQ:ATOS) Endoxifen is an active metabolite of Tamoxifen, which is an FDA approved drug for preventing breast cancer. According to the company a topical formulation of the drug could help combat breast density, which is an independent breast cancer risk.

Endoxifen Edge

Tamoxifen has, to date, been used to prevent new and recurrent forms of breast cancers. However, its benefits-cost ratio has always raised concerns. Only 2% of women at a high risk of developing breast cancer currently use the formulation. The risk or actual side effects associated with the treatment has always been a big concern for patients and physicians.

Taking into consideration the number of women who are at a high risk of developing breast cancer, Atossa Genetics Inc. (NASDAQ:ATOS) could generate up to $1 billion in sales on the approval of its topical formulation Endoxifen.

Separately, Atossa Genetics Inc. (NASDAQ:ATOS) did not generate any revenue for the three and six months ended June 30, 2017. Total operating expenses for the three and six months totaled $1.9 million and $3.6 million respectively. During the quarter, the company completed a capital raise of $4.4 million to be use d on the clinical development of Endoxifen development as well as for working capital purposes.

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.

Don’t miss out! Stay informed on $ATOS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Atossa Genetics Inc (NASDAQ:ATOS) Prices $4,000,000 Public Offering

Atossa Genetics Inc (NASDAQ:ATOS)

Atossa Genetics Inc (NASDAQ:ATOS) has announced the pricing of its public offering which is expected to raise proceeds amounting to $4,000,000 before subtraction commissions, underwriting discounts, and other expenses attached to the offering. The offering made up of Class A Units amounting to 664,000 shares and Class B Units amounting to 3,502 shares of the company’s Series A Convertible Preferred Stock. Cumulatively, they have a face value of $1,000 and each can be converted into 1,333.33 shares of Common Stock as well as warrants which are exercisable into shares of Common Stock equivalent to the shares of Series A Convertible Preferred Stock.

The exercise price for the warrants is $0.9375, which can be exercised upon issuance and have an expiry date five years from the issuance date. Atossa Genetics Inc (NASDAQ:ATOS) has issued a 45-day option to all underwriters to buy the additional 800,000 Common Stock shares in addition to 800,000 warrants to take care of the over-allotment in case any arises. The offering will end on April 2, 2017 subject to fulfillment of all customary closing conditions.

Atossa Genetics Inc (NASDAQ:ATOS) has appointed Aegis Capital Corp to act as the sole book manger of the offering.

In other segment, the company has started the enrollment of a Phase I study of its endoxifen which has been approved by FDA for treatment of breast cancer. The aim of the trial which has so far admitted 48 female subjects to study the patented pharmacokinetics formulations of both oral and topical endoxifen doses for a period of 28 days as well as evaluating the level of safety and tolerability. The trial is being conducted on behalf of a company called CPR Pharma Services Pty Ltd. Atossa is a clinical-phase pharmaceutical company engaged in the development of unique therapeutics as well as delivery processes towards breast cancer cure in addition to other breast disorders.

Atossa Genetics Inc (NASDAQ:ATOS) in January announced shifting the site for the Phase II study of fulvestrant which is concurrently administered with microcatheters toward breast cancer treatment. The study was launched in one of the leading centers in New York and will now be moved to Montefiore Medical Center.

The shift in locations has been necessitated by the relocation of the principle investigator who relocated to Montefiore and is now working with Montefiore Medical Center in several capacities. The Montefiore Health System is made of 11 hospitals, over 180 locations of specialty care network.

Ticker ATOS
Market Cap $2.89M
P/E
EPS (ttm) -$2.59
Shares Outstanding 3.66M
Shares Float 3.46
Insider Ownership
Float Short 6.21%
Short Ratio 1.56
Performance (Quarter) -42.34%
Performance (Year) -87.15%
Performance (YTD) -43.97%
Beta 1.44
Average Volume 137.7K
Price $0.79
Volume 1,815,027
Target Price $26.25

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.

Atossa Genetics Inc (NASDAQ:ATOS) Commences Enrollment In Endoxifen Trial

Atossa Genetics Inc (NASDAQ:ATOS)

Atossa Genetics Inc (NASDAQ:ATOS) has commenced enrollment of a Phase I trial of endoxifen, which is an FDA approved medication for breast cancer. The goals of this study, comprising 48 healthy female subjects, is to evaluate the pharmacokinetics of patented formulations of both topical and oral endoxifen dosage forms for 28 days, and to assess tolerability and safety. The study is being carried out on behalf of company by CPR Pharma Services Pty Ltd. Atossa is a clinical-stage pharmaceutical firm developing unique therapeutics and delivery processes to cure breast cancer and other breast ailments.

The buzz

Earlier in January, Atossa Genetics Inc (NASDAQ:ATOS) reported that it is transferring the site of its Phase II trial of fulvestrant administered with microcatheters in subjects with breast cancer or ductal carcinoma in situ who are scheduled for mastectomy or lumpectomy. The trial was commenced in a leading center of New York and is now being moved to Montefiore Medical Center.

This change comes about as the study’s principal investigator has relocated to Montefiore and is now associated with the Montefiore Medical Center in multiple roles. Montefiore Health System comprises of 11 hospitals; a major and specialty care network of over 180 locations across the lower Hudson Valley and Westchester County; the Bronx, the Albert Einstein College of Medicine and the Montefiore School of Nursing.

Dr. Steve Quay, the CEO and President of Atossa Genetics Inc (NASDAQ:ATOS), reported that they look forward to progressing their Phase 2 trial at Montefiore. Although enrollment in the trial has been slower than the company anticipated, particularly as the trial site is being shifted, they anticipate that Montefiore Medical’s large hospital system and pioneer breast cancer care center will support faster registration, which they now expect closing by August 2017.

As per latest 13F Filing of the company, at the close of December reporting period, as many as six institutional holders increased their stake in Atossa by around 109,236 shares, 1 reduced stake by 4,969 while 5 maintained their stake. That brings total institutional holdings at around 202,000 shares, as per the SEC filings. The stock attracted new institutional investments summing 193 shares whereas institutional investors liquidated their positions totaling shares.

In the last trading session, the stock price of Atossa Genetics Inc (NASDAQ:ATOS) jumped more than 4% to close the trading session at $1.17. The gains came at a share volume of 94,871 compared to average share volume of 79,521.

3/27/2017
Ticker Symbol ATOS
Last Price a/o 3:21 PM EST  $1.17
Average Volume 104.96K
Market Cap (mlns) $4.28M
Shares Outstanding (mlns) 3.66M
Share Float (mlns) 3.46M
Inside Ownership
Short Float 6.21%
Short Interest Ratio 2.05
Quarterly Return -16.43%
YTD Return -17.02%
Year Return -76.36%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.