Atossa Therapeutics (ATOS) Rockets On COVID-19 Drug Development

Atossa Therapeutics ATOS Stock News

Atossa Therapeutics Inc (NASDAQ: ATOS) is running for the top in the market this morning. The stock is up more than 80% after the company issued a press release, announcing the development of a potential COVID-19 treatment. Here’s the scoop:

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ATOS Stock Climbs On COVID-19 Drug Development Program

In the press release, Atossa Therapeutics said that it has launched a new drug development program. The program, known as COVID-19 HOPE, uses a novel combination of two drugs previously approved by the FDA for other diseases.

Ultimately, ATOS said that the goal of the program is to develop a therapy that will improve lung function and reduce the amount of time that COVID-19 patients are on ventilators.

The company also said that it has filed comprehensive provisional patent applications related to the program. It also intends on applying to the FDA under its Coronavirus Treatment Acceleration Program for the approval of the study initiation.

In a statement, Dr. Steven Quay, President and CEO at ATOS, had the following to offer:

The rapidly increasing number of COVID-19 patients needing mechanical ventilation is deeply worrisome, as more than one-third of these patients will never recover lung function and will die on the ventilator. The problem is confounded by the fact that hospitals may soon be facing a ventilator shortage and a vaccine could take more than a year to develop. The two drugs we intend to combine, which we call AT-H201, have been approved by the FDA for other diseases and are supported by a dozen clinical studies in close to 800 patients. We plan to quickly initiate and complete clinical studies so that we can obtain FDA approval to bring this treatment to market as soon as possible.

What’s The Big Deal?

This is big news. While the Trump said today that we have passed the worst of the spread of the coronavirus, the issue is still far from being behind us. Schools are still closed, events are still cancelled, and there’s a long runway before we find our way to any sense of normalcy.

With that said, there is a desperate need in the medical community for vaccines and treatments, and Atossa Therapeutics is working to fill that void. Should the company bring a COVID-19 treatment to market, the revenue opportunity would be tremendous.

As such, ATOS is a stock that is well worth watching!

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