Atossa Therapeutics, Inc. (Nasdaq: ATOS) a biotech giant with a focus on breast cancer and COVID-19, today announced blinded results from its Phase 1 clinical trial using Atossa ‘s patented AT-301, delivered through a nasal spray.
In this study, AT-301 was found to be safe and well-received at two different dose levels over 14 days, in both single and multiple-dose formulations. For patients experiencing symptoms with COVID-19, AT-301 is being created to be used at home. In order to treat COVID-19 at home, there are currently no FDA-approved therapies.
Atossa helps to determine potential collaborators who are designing diagnostic tests for COVID-19 so that AT-301 nasal spray can be co-developed and promoted with the purpose of making accessible AT-301 therapy when a person shows symptoms and test positive for the coronavirus.
Atossa plans to further improve its nasal spray to prevent infection with COVID-19, specifically for all of those living in high-risk environments such as COVID-19 infected patients, health care workers, and emergency respondents and teachers.
Although some manufacturers are still developing a vaccine for SARS-CoV-2, Atossa considers that therapies such as AT-301 provide a major market opportunity. The production and availability of conventional vaccines can also take years. Surveys have found that when a conventional vaccine is initially available, many people would not receive a vaccine 100%, particularly if multiple types of Coronavirus appear.
The stock of the Healthcare sector started trading yesterday at $1.33. During the session, it climbed to $1.49 and dropped to $1.25 before closing at the price of $1.36. The stock with a market capitalization of $14.47M had a volume of 280.54 k.