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Atossa Therapeutics, Inc. (ATOS) stock up over 6%: Let’s find out why.

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Shares of Atossa Therapeutics, Inc. (ATOS) stock continued the uptrend in today’s market on May 3, 2021, after gaining 0.43% at the previous closing. ATOS stock price saw a surge of 6.01% a share to reach $2.47 a share as of this writing. Atossa CEO Dr. Steven Quay’s participation in a panel discussion at Cello Health’s Cancer Progress Virtual Conference on May 6, 2021, is the only recent news announced by the Atossa stock on April 30, 2021. Let’s discuss more of it.

What’s happening?

Atossa Therapeutics, Inc being a pharmaceutical company engages in the discovery and development of medicines related to oncology and infectious diseases. Individuals are eyeing the upcoming panel discussion this week which will last for three days. Many speakers of reputed venture investment funds will attend the conference.

Previous Development:

ATOS stock on April 08, 2021, did announce the beginning of treatment of ovarian cancer patient with Atossa’s proprietary oral Endoxifen following the approval of expanded access by the U.S.A Food & Drug Administration for Endoxifen in the “Safe to Proceed” letter. Dr. Barbara Goff, Surgeon-in-Chief treated the patient at the University of Washington Medical Center. The use of Enodxifen was restricted only to that patient and the initial testing showed exceptional results of tumor response after the combination of Endoxifen and alpelisib.

Financial View of ATOS stock:

  • ATOS stock announced its financial results for the fiscal year 2020 according to which Atossa stock had no source of sustainable revenue and no associated cost of revenue at the end of the year 2020.
  • ATOS stock reported operating expenses of $14,607,000 for the year 2020 which represents a 15% decrease as compared to the operating expenses of 2019.
  • Research and development expenses for ATOS stock were reduced by 1% as compared to 2019 to drop at $6,608,000.Stock-based compensation of $2,214,000 was mainly responsible for this decrease.
  • General and administrative expenses for ATOS stock were totaled $7,999,000 for 2020 representing a decrease of 25% as compared to 2019. The main reason for this decrease was Stock-based compensation of roughly $3,610,000.
  • ATOS stock reported cash, cash equivalents, and restricted cash of $39.7 million at the end of the year 2020.

Conclusion:

Things are going well for ATOS stock as far as market sentiment is concerned and the upcoming conference discussed above will further decide the future of the ATOS stock.

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