Craig-Hallum initiates Atossa Genetics stock with buy rating

On Thursday, Craig-Hallum analysts began coverage on Atossa Genetics (NASDAQ: NASDAQ:ATOS) stock, assigning it a Buy rating and setting a price target of $4.00, representing significant upside from the current price of $0.86. The analysts highlighted the potential of Z-endoxifen, a selective estrogen receptor modulator (SERM), as a key factor in their positive outlook. According to InvestingPro data, analyst targets for ATOS range from $4.00 to $7.25.

The analysts noted that Z-endoxifen stands out due to its unique properties, differentiating it from the standard of care in breast cancer treatment. They emphasized its demonstrated efficacy and safety profile in multiple clinical studies, which they believe positions it as a strong candidate across various breast cancer settings. InvestingPro data shows the company holds more cash than debt and maintains a healthy current ratio of 12.67, providing financial flexibility for its clinical development programs.

Atossa Genetics is focusing on metastatic breast cancer, aiming to navigate an efficient clinical and regulatory path. The company plans to leverage this focus to support further development in additional indications.

The analysts expressed optimism for potential share appreciation as Z-endoxifen gains further validation. They anticipate results from neoadjuvant studies next year and plan to initiate Phase III trials in metastatic breast cancer by the end of 2025.

In other recent news, Atossa Therapeutics reported its Q4 2024 earnings, surpassing expectations with an earnings per share (EPS) of -0.04, better than the forecasted -0.065. The company highlighted a significant decrease in operating expenses from the previous year, contributing to an improved net loss of $25.5 million, down from $30.1 million in 2023. Atossa Therapeutics also announced the issuance of new patents for its breast cancer treatment formulations, specifically for (Z)-endoxifen, strengthening its intellectual property portfolio. These patents cover enteric oral formulations and methods for treating hormone-dependent breast and reproductive tract disorders. Additionally, the company outlined plans for a Phase 3 clinical study, SMART 2.0, to evaluate the efficacy of (Z)-endoxifen in reducing interval breast cancer in high-risk women. H.C. Wainwright maintained its Buy rating for Atossa, noting the strategic emphasis on Z-endoxifen for metastatic breast cancer. This focus is seen as a potential path to expedited FDA approval. Atossa’s commitment to advancing breast cancer treatment is evident through these developments, which aim to improve patient outcomes and shareholder value.

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