Atossa Therapeutics Announces Third Quarter 2021 Financial Results and Provides Corporate Update

About this update from Atossa Therapeutics, Inc.

[{"type":"text","content":"SEATTLE, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company seeking to develop innovative proprietary medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, today announces financial results for the fiscal quarter ended September 30, 2021, and provides an update on recent company developments. Key developments from Q3 2021 and to date include: Began to enroll participants in its clinical study of AT-H201 in Australia. The nebulized formulation, AT-H201, is being developed as an inhalation therapy for moderately to severely ill hospitalized COVID-19 patients and for “long-haul” patients with post-infection pulmonary disease.Received authorization from Swedish regulators to initiate a Phase 2 clinical study of Endoxifen to assess safety and pharmacodynamics in women with mammographic breast density (MBD). Scheduled a pre-IND meeting with the U.S. FDA to obtain input on the potential clinical and regulatory pathway for use of Atossa’s Endoxifen to treat breast cancer patients in the neoadjuvant (sometimes called “window of opportunity”) setting. The meeting is currently scheduled for December 2021. “Our progress in both the Endoxifen and COVID-19 programs, with our initiation of our trial in Australia for AT-H201, and our receipt of regulatory authorization in Sweden to commence an Endoxifen Phase 2 trial, have been key recent milestones, positioning us to move both of these programs forward and take the next steps toward developing therapies in urgent unmet patient needs,” said Dr. Steven Quay, Atossa’s President and Chief Executive Officer. “Further, our strong balance sheet will continue to facilitate our development plans as we not only execute on these trials but also explore additional options that could create significant shareholder value,” concluded Dr. Quay. Quarter Ended September 30, 2021, Financial Results For the quarter ended September 30, 2021, Atossa has no source of sustainable revenue and no associated cost of revenue. As of September 30, 2021, the Company had cash, cash equivalents and restricted cash of approximately $140 million. Operating Expenses: Total operating expenses were approximately $5,159,000 and $15,693,000 for the three and nine months ended September 30, 2021, respectively, consisting of ...

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