Atossa Genetics Inc (NASDAQ: ATOS) is having an incredibly strong time in the pre-market this morning, and for good reason. Investors are focused on the fact that the company has a coming data release, which could prove to be a big catalyst. Before we get into the details, we’d like to thank our partners at Trade Ideas for being the first to alert us to the gains. At the moment (9:10), ATOS is trading at $0.66 per share after a gain of $0.04 per share (6.44%) thus far today.
ATOS Gains On Coming Clinical Data
As mentioned above, Atossa Genetics is having a strong time in the pre-market this morning, following up on the gains that we saw on the stock yesterday. Ultimately, the movement is being caused by recent news of a coming data release. Early yesterday morning, the company issued a press release informing investors that it will be hosting a conference call tomorrow, October 25th, at 10 am EDT. During the conference call, ATOS will discuss preliminary results from its Phase 1 dose escalation study of oral Endoxifen, an active metabolite of the FDA-approved treatment known as tamoxifen. Tamoxifen is currently being used to treat patients with breast cancer as well as an option for breast cancer prevention among high risk patients.
During the Phase 1 clinical study, 48 healthy female patients were enrolled to assess the pharmacokinetics of the company’s proprietary formulations of both oral and topical Endoxifen dosage forms in both single and repeat doses. The study was also designed to assess the safety and tolerability of the treatment.
ATOS conducted the study in two separate parts based on the route of administration. While preliminary results for the topical arm were released earlier this year, the preliminary results of the oral arm have not yet been released. Nonetheless, this is the data that will be coming tomorrow, and considering the strong data from the topical arm, it only makes sense that tomorrow’s data release will likely be a positive one.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ATOS. In particular, we’re interested in following the ongoing work surrounding Endoxifen, as the data that has been released thus far has been overwhelmingly positive and the data to come will likely follow suit. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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