Atossa Therapeutics, Inc. ( (ATOS) ) has released its Q3 earnings. Here is a breakdown of the information Atossa Therapeutics, Inc. presented to its investors.
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Atossa Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapies for breast cancer, primarily using their proprietary drug, (Z)-endoxifen. The company operates in the oncology sector, aiming to address significant unmet medical needs in cancer treatment and prevention.
In their third-quarter financial report for 2024, Atossa Therapeutics announced several significant achievements, including positive results from their KARISMA-Endoxifen Phase 2 study and promising preliminary data from other clinical trials. The company also highlighted new patent grants and strategic partnerships, underscoring their ongoing commitment to advancing breast cancer therapies.
Key highlights from the report include the successful completion of the KARISMA-Endoxifen Phase 2 study, which demonstrated significant reductions in mammographic breast density, a known risk factor for breast cancer. Additionally, the preliminary data from the I-SPY 2 trial showed effective reduction of key breast cancer biomarkers. Atossa also initiated a combination trial with Quantum Leap Healthcare Collaborative and secured a new U.S. patent for its (Z)-endoxifen formulations, enhancing the company’s intellectual property portfolio.
Financially, Atossa ended the quarter with $74.8 million in cash and cash equivalents and no debt, reflecting a stable financial position. Operating expenses decreased compared to the previous year, driven by reduced research and development costs and lower compensation expenses. The company reported a net loss of $7.2 million for the quarter, slightly higher than the previous year.
Looking ahead, Atossa Therapeutics remains focused on advancing their clinical programs and developing next-generation cancer treatments, with ongoing trials poised to deliver further insights into their innovative therapies. The company’s management expressed confidence in their strategic direction and commitment to impacting breast cancer treatment and prevention positively.
