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In a challenging year for biotech firms, Atossa Genetics Inc . (NASDAQ:ATOS) stock has reached a new 52-week low, touching down at $0.66. According to InvestingPro, the company maintains a strong liquidity position with a current ratio of 14.99, though analysts have set price targets ranging from $4 to $7. The company, which specializes in developing therapies in oncology and infectious diseases, has seen its shares tumble significantly, reflecting a broader sector-wide retreat. Over the past year, Atossa Genetics has experienced a precipitous decline, with its stock value eroding by -63.74%, a stark indicator of the headwinds faced by the industry and the company’s specific challenges in advancing its clinical programs and securing investor confidence amidst a volatile market. With a market capitalization of $86.66 million and negative EBITDA of $27.6 million, InvestingPro analysis reveals the company is quickly burning through cash - one of 8+ key insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, Atossa Genetics announced its fourth-quarter and full-year 2024 financial results, reporting an earnings per share (EPS) of -0.04, which exceeded the forecasted -0.065. This better-than-expected performance reflects the company’s disciplined spending and strategic focus on its lead program, Z-endoxifen, for metastatic breast cancer (mBC). The company’s operating expenses decreased significantly from the previous year, with a reduction in both research and development (R&D) and general and administrative (G&A) expenses. Atossa reduced its net loss to $25.5 million, down from $30.1 million in 2023, and closed the year with $71.1 million in cash and cash equivalents.
H.C. Wainwright reaffirmed its Buy rating and $7.00 price target for Atossa Genetics, highlighting the company’s focus on Z-endoxifen’s clinical development as a strategic move. The emphasis on mBC is seen as a potentially advantageous path due to the possibility of a smaller Phase 3 program and a more direct route to FDA approval. Atossa is planning to initiate a new trial in 2025, seeking insights from key opinion leaders to navigate the complexities of the mBC treatment landscape. Additionally, the company plans to engage with the FDA within the next 4-6 months to further its efforts in breast cancer treatment.
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