Penny Stocks On Reddit To Watch #3: Atossa Therapeutics Inc. (NASDAQ: ATOS)
This next biotech penny stock, Atossa Therapeutics Inc. (NASDAQ: ATOS) , is a company we discuss quite frequently. This is due to its large market movements on a regular basis. But what exactly does Atossa Therapeutics do? ATOS is a clinical-stage biotech penny stock that discovers and develops medicines for oncology and infectious diseases. One of its main programs is Endoxifen which is an active metabolite of tamoxifen. Currently Endoxifen is in Phase II clinical trials to treat and prevent breast cancer.
It also has AT-301 which is a proprietary drug candidate for nasal administration in patients diagnosed with COVID-19. Atossa is also developing AT-H201 which is a drug candidate to improve lung function in those with COVID-19. Its COVID related developments are certainly a contributing factor to ATOS stock’s recent gains in the market.
The company released its first quarter financial results on May 14th which gave a lot of insight to where it stands right now. It also provided several updates on the majority of its clinical programs. This includes an update on its Endoxifen Phase 2 open-label clinical study. If administered in the window of opportunity between diagnosis of breast cancer and surgery, the results could be much greater than without it. Based on the positive results from this study, we could see acceleration of this program in the United States.
“We are diligently moving our existing programs forward, while actively exploring the possibility for strategic expansion into other areas where we might see near-term milestones and results. We look forward to continuing to update our stockholders on these opportunities as they develop.”
The CEO of Atossa, Steven Quay
Considering this, ATOS could be a candidate for your penny stocks watchlist.
Which Penny Stocks Are You watching This Summer?
As we move further into the Summer, investors are hopeful about the future of the stock market. While trading in the past few months has been less than ideal, there are a lot of positive factors that could occur on the horizon. This includes the potential end of Covid, economic recovery, and a major worldwide reopening.
[Read More] Best Penny Stocks in 2021 So Far? Here’s 4 You Should Check Out
Considering this, finding the best penny stocks should involve thorough research and a commitment to investigating a company to the best of your ability. But, with so much at play right now, only time will tell how the market will move in the near future and beyond.
