Biopharmaceutical Company Atossa Genetics Receives Buy Rating from H.C. Wainwright, Sets New Price Target at $4.00
Biopharmaceutical company Atossa Genetics received a Buy rating from H.C. Wainwright on Monday, with a new price target set at $4.00. The company is recognized for its promising pipeline centered around Z-endoxifen, an active metabolite of the drug tamoxifen.
Tamoxifen, approved in 1977, requires metabolic conversion to its active form, endoxifen, to effectively treat advanced breast cancer. Atossa Genetics is focused on Z-endoxifen, a more potent isomer of endoxifen currently being evaluated for its efficacy and safety profile.
Compared to tamoxifen, Z-endoxifen has a shorter half-life and reaches a steady-state more rapidly, potentially leading to a quicker onset of action and a better safety profile.
Atossa Genetics is conducting a Phase 2 study named Karisma, assessing the impact of Z-endoxifen on reducing measurable breast density. Initial data from this study is expected in the second half of 2024.
Another Phase 2 study, EVANGELINE, is exploring the treatment of neoadjuvant breast cancer with Z-endoxifen. The topline data for this study is anticipated to be released in the third quarter of 2026.
Additionally, Atossa Genetics is participating in a collaborative study known as I-SPY-2 with Quantum Leap Healthcare Collaborative. They are treating 20 patients with neoadjuvant breast cancer using Z-endoxifen, and initial findings are projected to be released in the second half of 2024.
According to H.C. Wainwright, the market has not yet recognized the value of Atossa’s pipeline. The firm sees a significant opportunity for share price appreciation, particularly with the anticipated data releases in the latter half of 2024.
Analyst comment
This news is positive for Atossa Genetics as it received a Buy rating and a new price target from H.C. Wainwright. The market has not recognized the company’s pipeline value yet, but with anticipated data releases in 2024, there is potential for significant share price appreciation.
