ATOS Stock Price Increased Over 23% Intraday: Why It Happened 

By Amit Chowdhry ● March 11, 2021
  • The stock price of Atossa Therapeutics Inc (NASDAQ: ATOS) has increased by over 23% during intraday trading. This is why it happened.

The stock price of Atossa Therapeutics Inc (NASDAQ: ATOS) – a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need in oncology and infectious diseases – has increased by over 23% during intraday trading. Investors are responding to Atossa Therapeutics announcing the FDA has issued a “Safe to Proceed” letter under their Expanded Access Pathway, permitting the use of Atossa’s oral Endoxifen as a treatment in an ovarian cancer patient. This patient is being treated at the University of Washington Medical Center by Dr. Barbara Goff, Surgeon-in-Chief.

Under the FDA expanded access program, the use of Atossa’s proprietary oral Endoxifen is restricted solely to this patient. And approval from the Institutional Review Board (IRB) must be obtained prior to providing oral Endoxifen to this patient.

KEY QUOTE:
“Dr. Goff recently contacted Atossa with an interest in gaining access to our Endoxifen under the FDA’s expanded access, or compassionate use, program for one of her patients. The patient has recurrent ovarian cancer and recently underwent functional molecular genomic testing, using 3D tumor organoid cultures grown in the laboratory from the patient’s tumor. The organoid testing revealed that the combination of Endoxifen and alpelisib produced an exceptional tumor response. We are gratified to be able to help this patient and are anxious to follow her response to this drug combination. If the drug combination shows promise in this patient, Atossa will consider doing additional clinical studies in patients with ovarian cancer.”

— Steven Quay, M.D., Ph.D., Atossa’s President and CEO

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.