Why Are Shares Of Atossa Therapeutics Up Today?

Atossa Therapeutics, Inc. (NASDAQ:ATOS) stock is trading higher on Thursday. Here’s what investors need to know.

• Atossa Therapeutics shares are climbing with conviction. What’s driving ATOS stock higher?

What To Know: The FDA granted one of the biopharmaceutical company’s potential treatments, (Z)-Endoxifen, a rare pediatric disease designation for the treatment of Duchenne Muscular Dystrophy. The status is typically reserved for drug candidates that treat serious or life-threatening diseases that primarily affect individuals from birth to 18 years of age.

The status gives (Z)-Endoxifen eligibility for a priority review voucher, which can be used to obtain priority review for a future application or may be sold or transferred to another sponsor. The drug candidate must first clear a qualifying marketing application.

“This designation is an important regulatory milestone for Atossa, and we believe a strong validation of the science supporting the potential of (Z)-Endoxifen as a treatment for Duchenne Muscular Dystrophy,” said Steven Quay, CEO of the company.

Atossa Therapeutics has not brought in revenue since 2016, according to Benzinga Pro. The company has reported a loss of 7 cents per share for the past two quarters.

ATOS Price Action: Shares of Atossa were up 9.41%, trading at approximately 93 cents at the time of publication, according to Benzinga Pro.

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