Atossa Therapeutics(ATOS) - 2024 Q4 - Annual Results

Financial Performance - Atossa Therapeutics ended 2024 with $71.1 million in cash and cash equivalents and no debt[1]. - Total operating expenses decreased to $27.6 million in 2024, down from $31.4 million in 2023, representing a reduction of approximately 12.1%[7]. - Net loss narrowed from $30,094,000 in 2023 to $25,504,000 in 2024, reflecting an improvement of about 15.1%[20]. - Net loss per share improved from $(0.24) in 2023 to $(0.20) in 2024, indicating a positive trend[20]. - Total stockholders' equity decreased from $91,016,000 in 2023 to $71,477,000 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 $17.3 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 $14,043,000 in 2023 to $13,504,000 in 2024, a decline of about 3.8%[20]. Assets and Cash Flow - Total assets decreased from $96,252,000 in 2023 to $76,444,000 in 2024, a decline of approximately 20.6%[18]. - Cash and cash equivalents fell from $88,460,000 in 2023 to $71,084,000 in 2024, representing a decrease of about 19.6%[18]. - Interest income for 2024 was $4.1 million, a decrease of $0.2 million compared to the previous year[10]. - Interest income decreased from $4,343,000 in 2023 to $4,050,000 in 2024, a decline of about 6.7%[20]. - Impairment charge on investment in equity securities decreased from $2,990,000 in 2023 to $1,710,000 in 2024, a reduction of approximately 42.8%[20].