Earlier today, Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19, today announced the successful results from in vitro testing of AT-H201, Atossa’s proprietary COVID-19 drug candidate. The preliminary study results show that AT-H201 inhibits SARS-CoV-2 infectivity of VERO cells in a laboratory culture, which are the standard cell types being used to study the infectivity of the coronavirus. SARS-CoV-2, sometimes called the coronavirus, is the COVID-19 infectious agent. This is the first submicromolar inhibitor of SARS-CoV-2 identified to date in published literature, meaning that a relatively small amount of the drug is necessary to result in an anti-viral effect. The testing was conducted on behalf of Atossa by a leading academic research institute. Atossa plans to publish a manuscript of these test results. Successful in vitro tests do not guarantee similar results from in vivo studies, including in human clinical trials. Additional safety and efficacy studies must be successfully completed and regulatory approvals must be obtained before AT-H201 may be commercialized.
AT-H201 is reportedly designed to act as a “chemical vaccine” by binding to the surface of the coronavirus and inhibiting the ability of the virus to enter a cell (“viral infectivity”). Significant findings from the testing include:
- AT-H201 components inhibited SARS-CoV-2 from infecting VERO cells in a laboratory culture.
- This is the first submicromolar inhibitor of SARS-CoV-2 identified to date in published literature, meaning that a relatively small amount of the drug is necessary to result in an anti-viral effect.
“These results support the continued development of AT-H201 for COVID-19 patients and beginning studies in the clinical setting. We look forward to reporting progress in clinical studies.” – stated Dr. Steven Quay, Atossa’s President and Chief Executive Officer.
AT-H201 was invented by Dr. Steven Quay. Dr. Quay received his M.D., M.A. and Ph.D. from The University of Michigan, was a postdoctoral fellow at MIT with Nobel Laureate H. Gobind Khorana, a resident at the Harvard-Massachusetts General Hospital, and was on the faculty of Stanford University School of Medicine for almost a decade. He has over 300 published contributions to medicine which have been cited over 9,700 times. Dr. Quay has founded six pharmaceutical companies, invented seven FDA-approved medicines, and holds 87 U.S. patents.
SHARES OF ATOSSA THERAPEUTICS
Atossa’s shares have been on an upward trend lately after touching a low of $.76/share during the recent market selloff. Today shares spiked to an intraday high of $2.68/ share with nearly 9 million shares of the trading volume.
ANALYST BUY RATING
Maxim Group’s Sell-side Biotech Analyst Jason McCarthy issued an update report today on Atossa Therapeutics, Inc. (NASDAQ: ATOS) titled “Expanding into the COVID-19 Therapeutics Race with a Differentiated Approach – Reiterate Buy.” He maintains a Buy Rating with a $4/share 12-month price target. View Maxim’s report here.
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