In the pre market trading session, Atossa Therapeutics Inc. (ATOS) stock has surged by 7.27% to $2.36 at the time of writing. ATOS stock closed the previous session at $2.20 gaining 12.24%. The ATOS stock volume traded about 20.85 million shares. In the past year, ATOS stock slumped by -0.90%. While in the past week the shares jumped up by 29.41%. In the past three and six months, the ATOS stock slumped-0.90% and added 32.53% respectively. Furthermore, Atossa is currently valued in the market at $265.81 million and the ATOS stock has 120.82 million outstanding shares.
Atossa Therapeutics, Inc.’s operational background
Atossa Therapeutics, Inc. founded in 2009, is a clinical-stage biopharmaceutical company that specifically focuses on developing and marketing medical devices, laboratory studies, and treatment of patients with breast health issues with therapeutics in the USA. In January 2020, the company changed its name from Atoss Genetics to what it currently is. The company is headquartered in Seattle, Washington.
Atossa Therapeutics, Inc.’s development pipeline and clinical trials
Atossa Therapeutics, Inc. is a lead investigational candidate is Endoxifen, which is in developmental Phase II studies to treat and prevent breast cancer. Endoxifen is an active metabolite of tamoxifen. The clinical-stage company is also targeting therapy delivery by developing intraductal microcatheter technology. This technology also includes the delivery of therapies to the breast cancer site. These therapies include fulvestrant, immunotherapies, and Chimeric Antigen Receptor T-cell therapies.
Approval for the Edoxifen therapy’s treatment in ovarian cancer treatment
Atossa Therapeutics, Inc. announced on 8th April 2021, that it is focusing on the next stage of progress for oral Endoxifen by allowing an ovarian cancer patient to be treated with the proprietary treatment. The usage of the proprietary oral Endoxifen in the treatment of the patient was approved by U.S Food and Drug Administration. The FDA did this by issuing a letter that expressed “Safe to Proceed” permission for the treatment of ovarian cancer patients through the expanded access pathway. The treatment is going to be monitored in the medical center of the University of Washington under the care of Surgeon-in-Chief, Dr. Barbara Goff.
How was Endoxifen found out to be effective for the patient?
The previous medical history of the cancer patient as stated by Atossa’s CEO and President Steven Quay shows that the patient has recurrent ovarian cancer which was given the tamoxifen. Tamoxifen is given in cases of ovarian cancer and breast cancer as well. However, the patient’s body did not tolerate tamoxifen and thus further treatment and therapy possibilities were investigated. Functional molecular genomic testing was done with the help of 3D tumor organoid cultures that were grown in the lab by extracting the tumor of the ovarian cancer patient
The resulting treatment that was investigated through testing found out that by using a combination of the therapies Alpelisib and Endoxifen, the tumor was responding exceptionally well. Therefore this positive testing is what helped get the FDA’s approval-however the approval is solely restricted to these patients only.
Now the next step is to prep the patient and follows the progress of the treatment in the patient. Furthermore, Atossa believes that additional clinical studies should be followed for patients with ovarian cancers.