Atossa Genetics Inc (NASDAQ: ATOS) is having an overwhelmingly strong day in the market today, and for good reason. The company released a clinical update surrounding dosing and clinical activity in its Endoxifen study. Of course, the news proved to be a strong source of excitement for investors who are sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from ATOS as a result; and
- what we’ll be watching for ahead.
ATOS Announces Dosing Completion
As mentioned above, Atossa Genetics is having an incredibly strong start to the trading session this morning after the company announced a clinical update. In a press release issued early this morning, ATOS announced that it has completed dosing and clinical visits in its Phase 1 study of Endoxifen.
Endoxifen is currently being studied as a treatment for gynecomastia. This is a condition in men which causes the breast to enlarge. During the study, the company dosed 24 healthy male volunteers to assess the pharmacokinetics of a proprietary topical Endoxifen dosage over the course of 28 days. The study is also assessing the safety and tolerability of the treatment. In a statement, Steve Quay, Ph.D., M.D., President and CEO at ATOS, had the following to offer:
We are now proceeding to the final stages of this study, which are to complete analysis of blood samples and then collect and analyze the data… We expect to report preliminary results from the study in the next quarter.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dive into the market is that the news causes moves. In the case of Atossa Genetics, the news proved to be overwhelmingly positive. After all, the clinical trial surrounding Endoxifen as a treatment for gynecomastia is nearing an end and results will be available soon. Considering this, investors are excited and sending the stock soaring. At the moment (10:52), ATOS is trading at $2.77 per share after a gain of $0.27 per share or 10.93% 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 story surrounding the company’s continued work with regard to Endoxifen. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
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