Atossa Therapeutics Q3 net loss narrows as clinical trial expenses decline

Overview

• US biopharmaceutical company reported Q3 net loss narrowed from prior year period

• Q3 operating expenses fell due to lower clinical trial and legal costs

• Company announced contingent value rights tied to potential future priority review voucher monetization

Outlook

• Atossa expects FDA IND clearance for (Z)-endoxifen in MAS and DMD by early 2027

• Company expects topline data from Phase 2 EVANGELINE study in Q2 2027

• Select data from I-SPY2 study to be presented at SABCS in December 2026

Result Drivers

• LOWER CLINICAL TRIAL SPEND - Co said decline in clinical trial expenses was due to completion of enrollment in (Z)-endoxifen studies

• LOWER LEGAL FEES - Co attributed reduced G&A expenses to lower legal fees following resolution of patent litigation

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Atossa Therapeutics Inc is $22.00, about 932.9% above its November 9 closing price of $2.13

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)