Atossa Genetics Inc (NASDAQ: ATOS) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced clinical data that proved to be positive, exciting investors who are pushing the stock skyward. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from ATOS stock as a result; and
- what we’ll be watching for ahead.
ATOS Announces Strong Clinical Data
As mentioned above, Atossa Genetics is having an incredibly strong start to the trading session this morning after announcing positive clinical data. In a press release issued early this morning, the company provided final results from a Phase 1 dose-escalation study.
During the study, ATOS was assessing Endoxifen, a treatment that is being developed as an option for male breast conditions like gynecomastia. In the release, the company said that the primary endpoint for the trial was successfully met.
During the trial, there were no clinically significant safety signals and no clinically significant adverse events in participants receiving the treatment. The treatment also proved to be well tolerated at each dose level and for the dosing duration used in the study. Finally, the company said that blood samples showed no measurable Endoxifen in treated subjects.
In a statement, Dr. Steven C. Quay, CEO and President at ATOS, had the following to offer:
These positive final results support the further development of topical Endoxifen to treat breast health conditions in men, including a condition called gynecomastia, or breast enlargement and pain, which frequently occurs in men taking androgen deprivation therapy for prostate cancer. We are also conducting a Phase 2 study using our topical Endoxifen in women with mammographic breast density (MBD) which we anticipate completing in the second quarter 2019. Once we have the results from the MBD study, we will determine next steps using topical Endoxifen to treat male breast conditions including gynecomastia.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Atossa Genetics, the news proved to be overwhelmingly positive. After all, the Phase 1 study of topical endoxifen led to promising results. As such, the company will continue to move the treatment through the development process, and the treatment is one step closer to potential commercialization. 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 (10:02), ATOS is trading at $1.76 per share after a gain of $0.53 per share or 43.09% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets 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 to bring topical endoxifen to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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