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Atossa Therapeutics(ATOS) - 2024 Q4 - Annual Results
ATOSAtossa Therapeutics(ATOS)2025-03-25 12:05

Financial Performance - Atossa Therapeutics ended 2024 with 71.1millionincashandcashequivalentsandnodebt[1].−Totaloperatingexpensesdecreasedto71.1 million in cash and cash equivalents and no debt[1]. - Total operating expenses decreased to 27.6 million in 2024, down from 31.4millionin2023,representingareductionofapproximately12.131.4 million in 2023, representing a reduction of approximately 12.1%[7]. - Net loss narrowed from 30,094,000 in 2023 to 25,504,000in2024,reflectinganimprovementofabout15.125,504,000 in 2024, reflecting an improvement of about 15.1%[20]. - Net loss per share improved from (0.24) in 2023 to (0.20)in2024,indicatingapositivetrend[20].−Totalstockholders′equitydecreasedfrom(0.20) in 2024, indicating a positive trend[20]. - Total stockholders' equity decreased from 91,016,000 in 2023 to 71,477,000in2024,adeclineofapproximately21.571,477,000 in 2024, a decline of approximately 21.5%[18]. Research and Development - Research and Development (R&D) expenses totaled 14.1 million in 2024, a decrease of 19% from 17.3millionin2023,primarilyduetoreducedspendingon(Z)−endoxifentrials[8].−Atossaiscurrentlystudying(Z)−endoxifeninfourPhase2trialstargetingvariousbreastcancerindications[13].−The4−weekKi−67≤1017.3 million in 2023, primarily due to reduced spending on (Z)-endoxifen trials[8]. - Atossa is currently studying (Z)-endoxifen in four Phase 2 trials targeting various breast cancer indications[13]. - The 4-week Ki-67 ≤ 10% response rate was above 85% across dosing levels in the Phase 2 EVANGELINE trial[2]. - (Z)-endoxifen demonstrated a 17.3 percentage-point reduction in mammographic breast density at a 1 mg dose and a 23.5 percentage-point reduction at a 2 mg dose, both statistically significant (p<0.01)[2]. - The company plans to advance (Z)-endoxifen for metastatic breast cancer, aiming for a more streamlined regulatory pathway[2]. General and Administrative Expenses - General and Administrative (G&A) expenses totaled 13.5 million in 2024, a decrease of 4% from 14.0 million in 2023[9]. - G&A compensation expenses decreased by 1.9 million in 2024, primarily due to lower cash and non-cash stock-based compensation[12]. - General and administrative expenses slightly decreased from 14,043,000in2023to14,043,000 in 2023 to 13,504,000 in 2024, a decline of about 3.8%[20]. Assets and Cash Flow - Total assets decreased from 96,252,000in2023to96,252,000 in 2023 to 76,444,000 in 2024, a decline of approximately 20.6%[18]. - Cash and cash equivalents fell from 88,460,000in2023to88,460,000 in 2023 to 71,084,000 in 2024, representing a decrease of about 19.6%[18]. - Interest income for 2024 was 4.1million,adecreaseof4.1 million, a decrease of 0.2 million compared to the previous year[10]. - Interest income decreased from 4,343,000in2023to4,343,000 in 2023 to 4,050,000 in 2024, a decline of about 6.7%[20]. - Impairment charge on investment in equity securities decreased from 2,990,000in2023to2,990,000 in 2023 to 1,710,000 in 2024, a reduction of approximately 42.8%[20].