In the last trading session, the stock price of Atossa Genetics Inc (NASDAQ:ATOS) jumped more than 40% to close the day at $0.59. The gains came at a share volume of 49.23 million compared to average share volume of 3.80 million. Post the recent gains, the market cap of firm was noted at $13.4 million. The stock has posted gains of more than 124% so far in this month.
In the last week of December, Atossa Genetics reported that Dr. Steven C. Quay, the CEO and President, has issued a letter to company’s stockholders. The letter mentioned that over the preceding two years, they have transformed company into a pure play pharmaceutical firm focused on the advancement of novel therapeutics and delivery processes intended at treating breast cancer and preventing breast cancer. They now have a remarkable chance to transform the segment of breast cancer and substantially lower the incidence of this grave disease.
The prevailing standard of care for big part of breast cancer patients is a five to ten-year regimen of an FDA-permitted drug named Tamoxifen. Unfortunately, not all people gain from Tamoxifen and it can show grave side effects. For these purposes, they are advancing a new drug named Endoxifen, which is the super most active metabolite of the drug Tamoxifen. The company is also developing their intraductal microcatheters with the prospective ability to deliver drugs and CAR-T, cells directly to the place of breast cancer.
Over the previous two years, the team of Atossa has been advancing two formulations of Endoxifen. The first product is oral Endoxifen for over 1 million breast cancer survivors. Next one is topical Endoxifen as a prospective treatment for a conditions named mammographic breast density. There is no FDA-permitted treatment for MBD, which impacts over 10 million women in the United States.