Atossa Genetics Inc (NASDAQ: ATOS) is having an overwhelmingly strong start to the trading session this morning after announcing news surrounding a clinical development program. Of course, the clinical update led to excitement among investors, sending the stock on a run for the top. Today, we’ll talk about:
- The clinical update;
- what we’re seeing from ATOS as a result;
- and what we’ll be watching for ahead.
ATOS Provides Clinical Update
As mentioned above, Atossa Genetics is having an incredibly strong start to the trading session this morning after the company announced news surrounding a clinical program. In a press release issued early this morning, the company announced that it has received approval from the Swedish Medical Products Agency (MPA) surrounding its plans to conduct a Phase 2 clinical study surrounding its proprietary topical Endoxifen. In this particular case Endoxifen is being assessed as a treatment for women with mammographic breast density, also known as MBD. In the release, ATOS said that studies don by others have shown that reduction in MBD reduces risk of developing breast cancer and may improve the accuracy when it comes to finding breast cancer.
In the release, the company said that the primary endpoint on the study is individual change in MBD. The endpoint will be measured after three and six months of entering the study. As we would expect, secondary endpoints include safety and tolerability. In a statement, Dr. Steven C. Quay, CEO and President at ATOS, had the following to offer:
Dr. Hall is widely regarded as a leading researcher in the field of breast cancer and prevention. He is heading the unique KARMA (Karolinska Mammography Project for Risk Prediction of Breast Cancer) Cohort, including over 70,000 women, which is regarded as the best characterized breast cancer cohort in the world and serves as a resource for studies about breast cancer risk assessment and prevention, and the Karisma Intervention Study, which is studying the change in MBD in women taking various doses of oral tamoxifen. We are honored to be working with Dr. Hall and his colleagues on our Phase 2 study of MBD as their unique experience and qualifications are simply unmatched anywhere in the world.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes moves. In this particular case, the news surrounding Atossa Genetics proved to be overwhelmingly positive. With the regulatory approval to move forward with Phase 2 clinical trials, the company is now closer to bringing topical Endoxifen to market. So, it’s no surprise that investors are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:44), ATOS is trading at $4.13 per share after a gain of $0.76 per share or 22.67% 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 company’s continue development with regard to Endoxifen. After all, if the treatment does indeed do well in clinical studies, it could become a game changer in the prevention and treatment of breast cancer. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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