Atossa Therapeutics (NASDAQ:ATOS) Stock Slips Below $4: Should You Buy Or Ignore?
Investors can attempt to trade clinical-stage biopharmaceutical firm Atossa Therapeutics (NASDAQ:ATOS) either by buying or holding the shares. Shares of the firm have moon-shot potential with users targeting low-priced scripts, especially for short-term trades.
Long-term investors can consider the firm based on bigger picture of breakthrough medicine progress. The firm does appear to be on the right track and a key regulatory decision on covid treatment should be encouraging for its stakeholders. The company’s shares surged from $1.52 in April to a 52-week high of $9.80 in June. However, the unwinding of the short squeeze may have resulted in downtrend of the stock.
The firm’s shares close at $5.62 on 17th July and its possible that the prices may surge again. The company focuses on two diseases- breast cancer and Covid-19.Atossa had received approval from Swedish Medical Product Agency for initiating Phase 2 clinical study of its oral Endoxifen drug for lowering mammographic breast density, a condition which affects over 10 million women just in the United States.
Atossa Chairman and CEO Steven Quay said that the achievement was significant. Quay added that two plants would produce the drug for potential future use. Also, the company proposed Covid-19 treatment, AT-H201, which is getting all the attention, as it was granted approval rom Australia’s Human Research Ethics Committee for clinical study in the country. The work is significant and may see it making inroads for allowing treatment at home.
Market Reaction:
On Monday, ATOS stock fell 13.33% at $3.90 with more than 24.75 million shares, compared to its average volume of 21.03 million shares. The stock has moved within a range of $3.7100 – 4.2400 after opening the trade at $4.12. Over the past 52-week, the stock has been trading within a range of $0.8100 – 9.8000.