Atossa Genetics

US: ATOS

$18.5m market cap

$2.03 last close

Based in Seattle, WA, Atossa Genetics is focused on the development of locally administered pharmaceuticals for the treatment of pre-cancer and early-stage breast cancer. Lead candidate afimoxigene topical gel is expected to start a Phase II study in 2016 in breast hyperplasia or DCIS.

Investment summary

Atossa is advancing endoxifen, a metabolite of tamoxifen, as a topical treatment for high mammographic breast density (MBD), a condition associated with higher cancer risk and gynecomastia. Atossa is also developing an oral endoxifen formulation to reduce cancer cell activity in the window of opportunity (WOO) between breast cancer diagnosis and surgery, and in women refractory to tamoxifen. It previously reported positive Phase I data for both formulations.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.0 (7.1) (7.2) (1000.81) N/A N/A
2018A 0.0 (11.4) (11.4) (551.10) N/A N/A
2019E 0.0 (11.8) (11.6) (127.54) N/A N/A
2020E 0.0 (7.1) (7.0) (76.82) N/A N/A
Industry outlook

Atossa reported positive data for its 90-patient Phase II MBD study on topical endoxifen, as MBD was reduced by an average of 14.3% in the 20mg daily group (p = 0.02), although 72 patients developed skin rashes/irritation and did not complete a full six months of dosing. Atossa may advance this formulation for short-term use. The firm also is advancing a Phase II trial for oral endoxifen (WOO study). Atossa reported $19.7m net cash at March 31 2019, and we believe these funds can sustain operations into 2021.

Last updated on 25/07/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (US$m) 9.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (12.1) (36.6) (15.8)
Relative* (14.6) (38.2) (20.2)
52-week high/low US$7.1/US$0.9
*% relative to local index
Key management
Steven Quay CEO
Kyle Guse CFO