Atossa Genetics Inc (NASDAQ: ATOS) is making a run for the top in the market this morning, and for good reason. The company announced a positive result from an Institutional Review Board (IRB) review.
Of course, the news excited investors, pushing the stock for the top. Today, we’ll talk about:
- The IRB news;
- what we’re seeing from ATOS stock as a result; and
- what we’ll be watching for ahead.
ATOS Stock Gains On IRB Results
Atossa Genetics is having an incredibly strong start to the trading session this morning, and for good reason. The company announced a positive result from an IRB review.
In a press release issued early this morning, ATOS said that the IRB has approved the use of its oral Endoxifen as a post-mastectomy treatment in a pre-menopausal, estrogen-receptor positive (ER+_ breast cancer patient.
The companys aid that the IRB approval follows the FDA’s recent “safe to proceed” letter. The approval is important as it permits the company to provide its oral Endoxifen to the patient.
In a statement, Steven C. Quay, President and CEO at ATOS, had the following to offer:
IRB approval was the final step in making our oral Endoxifen available to this patient. We are encouraged that the regulatory authorities recognize the potential for additional treatment options for pre-menopausal breast cancer patients. The impact of our proprietary oral Endoxifen on this patient’s tumor during the pre-surgical treatment window is consistent with research by others, and strongly supports the continued development of our proprietary oral Endoxifen.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Atossa Genetics, the news proved to be overwhelmingly positive.
After all, the IRB approval gives the company the ability to provide its treatment to a real-world patient, further expanding the data available which will likely support the submission of a New Drug Application. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:47), ATOS is trading at $4.33 per share after a gain of $0.51 per share or 13.35% thus far today.
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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 news surrounding the company’s continued work to develop Oral Endoxifen as the treatment has shown some pretty promising results. Nonetheless, we’ll continue to follow the story closely and bring the news breaks.
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