Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Atossa Therapeutics, retaining the price target of $4.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including Atossa Therapeutics’ strategic advancements and strong financial position. The company has taken significant steps by requesting a Type C FDA meeting to discuss the requirements for a New Drug Application for its endoxifen product, which is aimed at reducing breast cancer risk in various settings. This move, along with the potential for accelerated development, highlights the promising future of endoxifen, which is a key active metabolite of tamoxifen known for its efficacy in reducing cancer recurrence.
Furthermore, Atossa’s clean capital structure, with no debt and a substantial cash runway extending into 2027, positions the company well for future growth. The expiration of warrants further simplifies their financial standing. Despite past challenges in the biotech market and the under-the-radar presence of Atossa’s shares, the substantial need for breast cancer treatments and the positive data across multiple indications suggest a significant market opportunity. With these factors combined, McCarthy sees Atossa as poised to gain attention within the biotech community, especially as the broader biotech market shows signs of recovery.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.
ATOS’s price has also changed moderately for the past six months – from $0.730 to $0.830, which is a 13.70% increase.