Business
Atossa Therapeutics President and CEO Dr. Steven C. Quay Issues Annual Letter to Stockholders Highlighting Key Accomplishments and Strategy for 2021
SEATTLE, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical stage biopharmaceutical company seeking to discover and
About this update from Atossa Therapeutics, Inc.
[{"type":"text","content":"SEATTLE, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical needs in oncology and infectious diseases, with a current focus on breast cancer and COVID-19, today issued the following letter from President and CEO Dr. Steven C. Quay to Atossa stockholders: To Our Valued Stockholders: With the onset of COVID-19, the year 2020 will be remembered as one that changed the entire paradigm of business, the way we lead our daily lives and the world. I am deeply saddened by the devastating loss of life and the countless challenges the pandemic has created worldwide. With the ease of transmission, new variants emerging and the current limits of vaccines, we believe COVID-19 will be with us for the foreseeable future and we aim to be a part of the solution. During the past twelve months, despite the pandemic and the associated global disruptions, we continued to deliver on our corporate and clinical milestones, expanded our pipeline, and significantly strengthened our balance sheet by adding approximately $81 million in net proceeds. We are in a strong position to continue the development of our programs and opportunistically add accretive programs as we move forward. While much work still lies ahead, we are pleased to report the following highlights of our progress: AT-301 Nasal Spray for the Treatment of COVID-19. AT-301 is a nasal spray being developed for at-home treatment of patients diagnosed with COVID-19 who do not require hospitalization. During 2020, we completed successful in-vitro testing followed by a Phase 1 clinical study with preliminary data demonstrating safety and tolerability. We recently received written feedback from the FDA from a pre-IND meeting that is informing our clinical and regulatory strategy. We expect to release final data from this study in the first quarter of 2021 and then quickly start additional pre-clinical and clinical studies to support an investigational new drug application (IND) with the FDA. We are in the process of identifying potential partners for this program. For example, an ideal partner may be selling diagnostic tests for COVID-19 so that our nasal spray could be co-promoted with the diagnostic test once all regulatory approvals are o...