Atossa Genetics

US: ATOS

$8.4m market cap

$1.48 last close

Based in Seattle, WA, Atossa Genetics is focused on the development of locally administered pharmaceuticals for the treatment of pre-cancer and early-stage breast cancer. Lead candidate afimoxigene topical gel is expected to start a Phase II study in 2016 in breast hyperplasia or DCIS.

Investment summary

Atossa Genetics’s endoxifen programs are advancing in their respective breast health programs. The firm recently reported positive safety data from its Phase I study on topical endoxifen in men, and it completed enrolment for its Phase II endoxifen study in women with elevated mammographic breast density (MBD). It is also advancing an oral endoxifen formulation in women refractory to tamoxifen, and is applying its intraductal microcatheter (IDMC) with cancer drug fulvestrant. Our rNPV-derived equity valuation is $23.9m, or $3.66 per share.

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2016A 0.0 (6.9) (7.3) (2951.72) N/A N/A
2017A 0.0 (7.1) (7.2) (1000.81) N/A N/A
2018E 0.0 (12.9) (12.9) (430.82) N/A N/A
2019E 0.0 (11.7) (11.7) (188.22) N/A N/A
Last updated on 19/02/2019
Industry outlook

Atossa started Phase II trials for oral and topical endoxifen in women, and completed enrollment for the topical study. It is also planning to start a Phase II study in men with gynecomastia. It also started preclinical studies with its IDMC to explore potential use in immunotherapy. Atossa reported $13.0m net cash on 30 September 2018, which we believe can sustain operations until early 2020.

Last updated on 19/02/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (US$m) 8.9
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 10.3 27.6 (80.3)
Relative* 5.9 23.5 (80.6)
52-week high/low US$10.0/US$0.9
*% relative to local index
Key management
Steven Quay CEO
Kyle Guse CFO