Atossa Therapeutics appoints Janet Rea as SVP of R&D

SEATTLE - Atossa Therapeutics, Inc. (NASDAQ:ATOS), a clinical-stage biopharmaceutical company focused on breast cancer treatment and prevention, announced today the appointment of Janet R. Rea, MSPH to the newly created position of Senior Vice President, Research and Development. The company, currently valued at $112 million, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data.

Rea, who previously worked at Atossa as Senior Vice President of Regulatory, Quality, and Clinical Affairs, returns to the company to lead its late-stage clinical and regulatory programs for (Z)-endoxifen, the company’s lead product candidate. With a robust current ratio of 9.17, the company’s liquid assets significantly exceed its short-term obligations, providing financial flexibility for its development programs.

According to the company’s press release, Rea brings more than 20 years of experience in strategic research and clinical development, with a track record in regulatory approvals. Her immediate priorities will include upcoming FDA submissions and defining the pathway to commercialization for the company’s breast cancer treatment programs.

"Janet’s extensive experience in strategic regulatory and clinical development pathways, particularly in getting programs successfully through approval processes, aligns perfectly with our mission," said Dr. Steven Quay, Atossa’s Chief Executive Officer.

Prior to rejoining Atossa, Rea served as a consultant to various biopharmaceutical companies and held senior leadership roles at AVM Biotechnology, TPI Therapeutics, and Protein Sciences (now part of Glaxo). At Protein Sciences, she played a key role in the approval of FluBlok, an rDNA egg-free influenza vaccine. She also previously secured IND clearance for what is now Exondys 51 for Sarepta.

During her earlier tenure at Atossa, Rea secured regulatory clearance for clinical studies of (Z)-endoxifen in Australia, the US, and Sweden.

Atossa Therapeutics is developing (Z)-endoxifen for multiple breast cancer applications, including risk reduction and treatment in neoadjuvant, adjuvant, and metastatic settings. While the company has seen a strong 33% price return over the past six months, analysts maintain optimistic price targets ranging from $4 to $7.75. InvestingPro subscribers can access 8 additional key insights about Atossa’s financial health and market position, along with comprehensive research reports that provide detailed analysis of the company’s prospects.

In other recent news, Atossa Therapeutics has made significant strides in its breast cancer drug development efforts. The company has requested a Type C meeting with the U.S. Food and Drug Administration (FDA) to discuss strategies for accelerating the development of low-dose (Z)-endoxifen for breast cancer risk reduction. This move aims to align with FDA requirements and potentially shorten approval timelines while reducing clinical trial costs. Additionally, Atossa received positive written feedback from the FDA regarding its proposed dose optimization trial for treating estrogen receptor positive, HER2-negative metastatic breast cancer. This feedback affirmed key elements of Atossa’s clinical development plan, eliminating the need for a pre-Investigational New Drug meeting. As a result, the company is on track for a potential IND submission in the fourth quarter of 2025. H.C. Wainwright has reiterated its Buy rating on Atossa, maintaining a $7.00 price target, following these regulatory updates.

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