Please ensure Javascript is enabled for purposes of website accessibility

Why Atossa Therapeutics Stock Soared Today

By Joe Tenebruso - Updated Feb 4, 2021 at 3:27PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Investors are excited about the potential of the biotech's experimental breast cancer treatment.

What happened 

Shares of Atossa Therapeutics (ATOS 0.25%) continued their recent ascent on Thursday following promising announcements related to its breast cancer drug earlier this week. As of 2:50 p.m. EST, the biopharmaceutical company's stock price was up 40%. 

So what

Atossa Therapeutics said on Tuesday that "substantially positive results" from its Australian phase 2 clinical trial of Endoxifen prompted it to end the study early and accelerate the drug's development in the U.S. "It is a welcome event to halt an ongoing clinical trial because the results are so overwhelmingly positive," CEO Steven Quay said in a press release. 

The first six participants in Atossa's Australian study saw an average reduction of 74% in tumor cell activity. Moreover, the patients' tumor cell activity levels dropped below a threshold that studies have shown to improve long-term survival rates. 

A person is pointing to an upwardly sloping stock chart.

Atossa Therapeutics stock extended its recent gains on Thursday. Image source: Getty Images.

On Wednesday, Atossa's shareholders received more good news. The biotech released 26 months of data from a single-patient compassionate-use study of Endoxifen. Atossa said the patient has not had a recurrence of breast cancer and has tolerated the treatment well. Notably, the patient did not experience side effects commonly associated with tamoxifen, a commonly prescribed treatment for breast cancer. 

Now what

More than 276,000 women were diagnosed with breast cancer in the U.S. in 2020, according to The American Cancer Society. It's a far too common and often deadly disease -- one that's projected to claim the lives of more than 42,000 Americans every year. 

If Endoxifen continues to demonstrate promising results in clinical trials and earns FDA approval, Atossa will likely see tremendous demand for the drug.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Atossa Genetics Inc. Stock Quote
Atossa Genetics Inc.
$0.96 (0.25%) $0.00

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/23/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.