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Atossa Therapeutics Inc. (ATOS+0.85%) has filed its Annual Report on Form 10-K filing for the fiscal year ended December 31, 2024.
The report details Atossa's focus on developing proprietary medicines in oncology, particularly for breast cancer. Their lead drug candidate, (Z)-endoxifen, is under development for both prevention and treatment of breast cancer.
Atossa's business strategy involves advancing clinical programs and potentially adding new programs through acquisition, investment, collaboration, or internal development.
The company reported a net loss of $25.5 million for the year ended December 31, 2024, compared to a net loss of $30.1 million in the previous year.
Research and development expenses decreased to $14.1 million from $17.3 million in 2023, primarily due to reduced spending on clinical trials and drug development costs.
General and administrative expenses were $13.5 million, down slightly from $14.0 million in 2023, with a notable decrease in compensation expenses.
Atossa had cash and cash equivalents of approximately $71.1 million as of December 31, 2024, and believes it has sufficient resources to fund operations for at least the next 12 months.
The company continues to focus on its lead drug candidate (Z)-endoxifen, which is being investigated in multiple Phase 2 trials for various breast cancer-related indications.
Atossa's future funding requirements will depend on the costs of manufacturing, clinical trials, and potential acquisitions or licensing of additional programs.
The company acknowledges risks related to its business, including its history of operating losses, need for additional capital, and reliance on third-party service providers for critical operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Atossa Therapeutics Inc. annual 10-K report dated March 25, 2025. To report an error, please email earnings@qz.com.