Atossa Genetics Presents Additional Findings In Breast Cancer Study – Shares UP In After Hours Trading
Atossa Genetics Inc. (NasdaqCM: ATOS), a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions, announced additional findings from its Phase 1 study of Atossa’s proprietary oral Endoxifen after the market closed today. Endoxifen is an active metabolite of the FDA-approved drug tamoxifen, which is currently used to treat breast cancer and for breast cancer prevention in high-risk patients.
The additional findings reported from the oral arm of the Endoxifen Phase 1 study are summarized as follows:
- The median time for patients in the study to reach the steady-state serum levels of Endoxifen while taking daily doses of Atossa’s oral Endoxifen was 7 days. Published literature indicates that it takes approximately 50-200 days for patients to reach steady-state Endoxifen levels when taking daily doses of oral tamoxifen.
- The median time for patients in the study to reach the maximum serum level of Endoxifen after taking Atossa’s oral Endoxifen was ranged from 4 to 8 hours (depending on dose). The 4 mg dose of Endoxifen produced a maximum serum level of Endoxifen in 4 to 8 hours at levels above the generally accepted threshold for a therapeutic effect on estrogen-dependent breast cancer.
Steve Quay, Ph.D., MD, CEO and President of Atossa stated, “These additional findings are important for several reasons. Breast cancer patients do not typically want to wait weeks or even months for the current standard of care, oral tamoxifen, to take effect. Our study data indicates that our proprietary oral Endoxifen reaches a steady-state in about 7 days, while the literature indicates that it can take 50-200 days for tamoxifen to reach a steady-state keeping in mind that a breast cancer tumor can double in size in as little as 29 days. Not only does it take up to several months for oral tamoxifen to take effect, oral tamoxifen also does not benefit up to 50% of patients, partly because many patients cannot metabolize tamoxifen. For these reasons, we believe our oral Endoxifen may reduce the incidence of this deadly disease and fundamentally change the paradigm for breast cancer treatment.”
Atossa hosted a conference call to discuss the additional findings today. A replay of the call will be available approximately one hour after the end of the call through March 1, 2018. The replay can be accessed via Atossa’s website or by dialing 877-344-7529 (domestic) or 412-317-0088 (international) or Canada Toll-Free at 855-669-9658. The replay access code is 10116753.
Kyle Guse, CFO of Atossa stated that the company improved the balance sheet through recent capital raise activities. See Page 8 of today’s presentation.
Shares of Atossa (ATOS) have been moving up significantly while trading volume has risen to 3,690,551/day since last week when Vista Partners Published it’s FREE Research Report. DOWNLOAD the Vista Partners FREE Report at http://www.vistapglobal.com/vp-coverage/atossa-genetics-inc-atos/.
Additional sell-side coverage by Maxim Group on Atossa has a “buy” & a 12-month price target of $2/share.
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