Tuesday, November 01, 2016 9:59:58 PM
The report is available here: ATOS October 2016 Update.
Highlights from the update are as follows:
Capital raising, corporate actions ease short term liquidity concerns and maintain Nasdaq CM listing
Atossa completed several corporate actions over the last two months, with management addressing short term liquidity concerns while maintaining its national listing on the Nasdaq CM. In August, Atossa completed a reverse stock split of 1:15, which enabled the company to come into compliance with minimum bid requirements on the Nasdaq. The company was also able to raise an additional $2.875mn in gross proceeds from an equity offering which closed on September 6, 2016. Finally, Atossa announced that it reached a settlement in its litigation with Besins Healthcare Luxembourg SARL, and that the company has received a cash payment of $1.76mn as part of the settlement. Following these actions, we estimate share outstanding at 3.8mn.
Several key clinical events on the horizon
We see several potential catalysts on the horizon for Atossa over the next 6-12 months. First, the company has an ongoing Phase 2 clinical study at Columbia University with its proprietary microcatheters for administering fulvestrant as a potential treatment for ductal carcinoma in situ (DCIS) and Stage 1 / Stage 2 invasive breast cancer prior to surgery. The study began in March 2016. Atossa management believes its proprietary intraductal microcatheters will prove to be a safer, more cost effective, healthier treatment than intramuscular administrations of fulvestrant. Additionally, the company is expected to announce a trial design for a Phase 2 study of oral endoxifen for breast cancer patients who are refractory to tamoxifen, which is expected to commence in 2017E.
Adjusting price target to $4.50 following results, split, and capital raising activities
We are updating the price target for Atossa following the company's recent results, share issuances and reverse split. Atossa experienced greater dilution in capital raising activities than contemplated in our original analysis. The current target is primarily driven by assumptions related to Atossa's two main Programs: 1) fulvestrant administered intraductally via Atossa's proprietary microcatheters and 2) oral endoxifen for breast cancer patients who are refractory to tamoxifen. Our model assumes initial commercialization in 2019E and 2021E, respectively, for these programs.
Please review important disclosures at www.seethruequity.com.
About Atossa Genetics, Inc.
Atossa Genetics, Inc. is a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions. For more information, please visit www.atossagenetics.com.
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
SeeThruEquity is approved to contribute its research reports and estimates to Thomson One Analytics (First Call), the leading estimates platform on Wall Street, as well as Capital IQ and FactSet. SeeThruEquity maintains one of the industry's most extensive databases of opt-in institutional and high net worth investors. The firm is headquartered in Midtown Manhattan in New York City.
For more information visit www.seethruequity.com.
Contact:
Ajay Tandon
SeeThruEquity
info@seethruequity.com
SOURCE: SeeThruEquity
Recent ATOS News
- Atossa Therapeutics Announces Support of Final Rule from FDA Requiring Patient Notification of Breast Density, a Critical Step in Addressing a Known Risk Factor for Breast Cancer • GlobeNewswire Inc. • 09/10/2024 12:30:00 PM
- Atossa Therapeutics to Present at H.C. Wainwright 26th Annual Global Investment Conference • GlobeNewswire Inc. • 09/03/2024 12:30:00 PM
- Atossa Therapeutics Granted Additional Patent Protection for Endoxifen • GlobeNewswire Inc. • 08/28/2024 12:30:00 PM
- Atossa Therapeutics and Quantum Leap Healthcare Collaborative Dose First Patient in I-SPY 2 Trial Combining (Z)-Endoxifen with Abemaciclib for ER+/HER2- Breast Cancer • GlobeNewswire Inc. • 08/21/2024 12:30:00 PM
- Atossa Therapeutics Announces the Appointment of Michael Parks as Vice President, Investor and Public Relations • GlobeNewswire Inc. • 08/20/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/12/2024 01:05:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 01:00:09 PM
- Atossa Therapeutics Announces Second Quarter 2024 Financial Results and Provides Corporate Update • GlobeNewswire Inc. • 08/12/2024 12:30:00 PM
- Atossa Therapeutics Completes Enrollment of 80mg Pharmacokinetic Run-In Cohort in Phase 2 EVANGELINE Clinical Trial Evaluating (Z)-Endoxifen as a Neoadjuvant Treatment for ER+ / HER2- Breast Cancer • GlobeNewswire Inc. • 07/22/2024 12:30:00 PM
- Atossa Therapeutics Appoints Heather Rees as Chief Financial Officer • GlobeNewswire Inc. • 07/02/2024 08:15:00 PM
- Atossa Therapeutics Announces Updated Protocol for Clinical Trial Evaluating (Z)-Endoxifen in Combination with Abemaciclib (VERZENIO®) in Women with ER+/HER2- Breast Cancer • GlobeNewswire Inc. • 06/28/2024 12:30:00 PM
- Atossa Set to Join Russell 3000® Index Effective June 28, 2024 • GlobeNewswire Inc. • 06/17/2024 12:30:00 PM
- Atossa to Present at the Sidoti Small-Cap Investor Conference • GlobeNewswire Inc. • 06/05/2024 12:30:00 PM
- Atossa Therapeutics Announces Support of Clinical Study Testing New, Artificial Intelligence, Breast Cancer Risk Assessment Model • GlobeNewswire Inc. • 05/28/2024 12:30:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 05/24/2024 04:15:32 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 05/23/2024 01:00:04 PM
- Atossa Therapeutics Announces Last Patient, Last Dose in its Phase 2 Karisma-Endoxifen Clinical Trial • GlobeNewswire Inc. • 05/15/2024 12:30:00 PM
- Form DEL AM - Delaying amendment • Edgar (US Regulatory) • 05/14/2024 08:46:30 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 05/13/2024 08:05:53 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/13/2024 01:05:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/13/2024 01:00:12 PM
- Atossa Therapeutics Announces First Quarter 2024 Financial Results and Provides Corporate Update • GlobeNewswire Inc. • 05/13/2024 12:50:00 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 05/10/2024 01:00:05 PM
- Atossa Therapeutics Announces Support of New Breast Cancer Screening Guidelines • GlobeNewswire Inc. • 05/07/2024 12:30:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM