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SEATTLE – Atossa Therapeutics, Inc., a biopharmaceutical company with a market capitalization of $98.77 million, has been notified by The Nasdaq Stock Market LLC that it is currently not meeting the minimum bid price requirement for continued listing on the Nasdaq exchange. The notice, dated February 21, 2025, indicated that Atossa’s common stock, currently trading at $0.78, had not maintained the required minimum closing bid price of $1.00 per share over the past 30 consecutive business days, as stipulated by Nasdaq Listing Rule 5550(a)(2).
The company, which is listed under the ticker (NASDAQ:ATOS), now has a period until August 20, 2025, to regain compliance with the exchange’s requirement. If Atossa fails to meet the minimum bid price by this deadline, it may be given an additional 180 days to comply. To achieve compliance, Atossa’s common stock must close at $1.00 per share or higher for at least 10 consecutive business days. According to InvestingPro, the stock has declined 44% over the past six months, trading well below its 52-week high of $2.31.
Receiving the notice does not have an immediate impact on the trading of Atossa’s stock on the Nasdaq Capital Market. Atossa Therapeutics has expressed its intention to monitor its stock’s bid price closely and to evaluate all available options to regain compliance with Nasdaq’s minimum bid price rule. InvestingPro analysis reveals that while the company maintains a strong current ratio of 13.3 and holds more cash than debt, it is quickly burning through its cash reserves. Get access to 6 more exclusive ProTips and detailed financial metrics with InvestingPro.
This development comes as many biotech firms face market pressures, with investor sentiment and industry dynamics influencing stock performance. Atossa, which focuses on the development of pharmaceutical preparations, has not indicated any specific strategy or financial restructuring plan in response to the notice at this time.
The information reported is based on a press release statement by Atossa Therapeutics and reflects the company’s current status regarding Nasdaq’s continued listing standards.
In other recent news, Atossa Therapeutics has made significant strides in its breast cancer treatment and prevention programs. The company announced the completion of the KARISMA-Endoxifen Phase 2 Study, which focused on reducing mammographic breast density (MBD), a known risk factor for breast cancer. Results showed a notable decrease in MBD for both 1 mg and 2 mg doses of (Z)-endoxifen, with reductions of 17.3 and 23.5 percentage points, respectively. Atossa is also advancing with the EVANGELINE trial, a Phase 2 study evaluating (Z)-endoxifen as a treatment for estrogen receptor-positive breast cancer, showing promising initial results in tumor suppression.
Additionally, Atossa has reported progress in two I-SPY 2 studies, where the monotherapy arm met its primary endpoint with a high treatment adherence rate. Despite a recent patent setback, the company continues to bolster its intellectual property portfolio, having secured two new U.S. patents for (Z)-endoxifen. Atossa remains financially stable, maintaining a strong cash position to support ongoing research and development efforts.
The company is committed to advancing (Z)-endoxifen into registrational clinical trials by 2025, aiming to make this therapy globally available. Atossa’s efforts reflect its dedication to providing safer, more tolerable treatment options for breast cancer patients. Despite challenges, the company continues to focus on innovation and development in the oncology field.
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