Atossa Therapeutics, Inc. reported a net loss of approximately $25.5 million for the fiscal year ending December 31, 2024, a decrease from the $30.1 million loss recorded in the previous year. The company has not generated any revenue during this period, maintaining a focus on the development of its lead drug candidate, (Z)-endoxifen, which is aimed at treating breast cancer and reducing mammographic breast density. As of December 31, 2024, Atossa held cash and cash equivalents of $71.1 million, down from $88.5 million in 2023, indicating a need for continued capital raising efforts to support ongoing operations.
Operating expenses for the year totaled $27.6 million, a reduction from $31.4 million in 2023. Research and development expenses decreased by 19% to $14.1 million, primarily due to reduced spending on (Z)-endoxifen trials. General and administrative expenses also saw a decline, attributed to lower compensation costs and a decrease in non-cash stock-based compensation. The company recorded an impairment charge of $1.7 million related to its investment in Dynamic Cell Therapies, Inc., reflecting challenges in that investment.
Atossa is advancing several clinical trials for (Z)-endoxifen, including the EVANGELINE study, which evaluates its efficacy as a neoadjuvant therapy for premenopausal women with estrogen receptor-positive breast cancer. The trial has shown promising results, with significant tumor suppression observed in participants. Additionally, the company is exploring (Z)-endoxifen's potential to reduce mammographic breast density, a key risk factor for breast cancer, through the Karisma study, which reported significant reductions in breast density among participants.
Looking ahead, Atossa plans to continue its clinical development efforts and may pursue additional indications for (Z)-endoxifen, including metastatic breast cancer. The company has indicated that it will need to raise substantial capital to fund its operations and clinical trials, with potential funding sources including public or private equity offerings and collaborations. The ongoing need for capital, coupled with the company's history of operating losses, underscores the financial challenges it faces as it seeks to bring its therapeutic candidates to market.
About ATOSSA THERAPEUTICS, INC.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.