On April 23, ATOS stock was up nearly 30% ahead of today’s presentation by Atossa Genetics’ CEO Steven Quay at the Precision: Breast Cancer World R&D Summit in Boston. It’s now the day of the presentation, and yet, ATOS stock ended the day down nearly 10%.
Here’s what we know.
ATOS Stock Closes Down Nearly 10%
Today, at the Precision: Breast Cancer World R&D Summit, Atossa Genetics (NASDAQ:ATOS) CEO provided an update on the company’s clinical programs. First, Quay discussed its Phase 2 clinical study of topical Endoxifen. Then, the CEO addressed its recently completed first phase of a preclinical study using the company’s proprietary intraductal delivery technology.
In the days leading up to the presentation, the market seemed to be looking forward to the updates. On April 23, shares had rallied 41% since April 19, according to Seeking Alpha. But that excitement didn’t seem to last long, with the stock closing today in the red shortly after the 2:00 PM presentation.
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According to Yahoo Finance, at market close, ATOS stock was trading at $3.20, which means it closed down 8.05%. Today’s results may have been a one-off, and ATOS stock could be back in the green tomorrow. Or maybe not. For these reasons, investors should keep an eye on this stock tomorrow, April 26.
For Those Who Don’t Know
Based in Seattle, Washington, Atossa Genetics is a clinical-stage biopharmaceutical company. It mainly develops novel therapeutics as well as delivery methods to treat breast cancer. Atossa Genetics also develops treatments for other breast conditions. The company was founded in 2009 and is named after the Persian Queen Atossa, who is the first woman in recorded history to have breast cancer.
Takeaway
Do you have any predictions for ATOS stock tomorrow? Do you think it’s a coincidence that the stock plunged on the day of the presentation? Let us know what you think in the comments below!
Featured image: DepositPhotos © Syda_Productions
