Atossa Therapeutics (ATOS) Stock Attempts To Bounce Back: How Far Can it Go?
11:19 am Wednesday, September 01st, 2021
The biotech industry may be one of the more popular sectors for industries but it has not had a particularly great time in the past few weeks. SPDR S&P Biotech ETF is the benchmark for the sector and it has declined by as much as 26% since hitting a high in February.
The Atossa Therapeutics (NASDAQ:ATOS) stock has however managed to emerge as one of the few exceptions and performed strongly. Although the stock is down from its all-time high levels of $9 a share from earlier on this year, it is still up by as much as 270% this year so far. At this point, it is important for investors to figure out if the stock is still worth backing after it took off this year.
Atossa is primarily involved in two lines of treatment. One of those is involved with breast cancer and the other is related to two medicines that are meant for treating patients suffering from COVID 19. It should be noted that although the products that Atossa is involved with might have large markets, the company has still not managed to generate any revenues.
On the other hand, none of its products have gained approval from the United States Food and Drug Administration either. While its COVID 19 treatment has shown promise, it is unlikely that the FDA is going to fast-track new treatments for the same at this point. On the other hand, the market opportunity for its breast cancer product Endoxifen still remains small. Hence, it seems that a bit of misplaced optimism might have been in play here with regards to the Atossa stock.
