The Atossa Therapeutics Inc (NASDAQ:ATOS) stock is back in focus this morning and has climbed by 8% already after it got permission to start the Phase 2 clinical study of its product Endoxifen from The Swedish Medical Product Agency.
The Phase 2 study is going to look into the possibility of treating mammographic breast density with Endoxifen. It is a major development for the company and the optimism around the stock is understandable once one looks at the numbers.
According to studies, mammographic breast density is a condition that affects as many as 10 million women in the United States alone. Hence, it is easy to see that a significant opportunity exists for Atossa to exploit if the product does manage to get approval. Steven Quay, who is the Chief Executive Officer of the company, stated that he expects Endoxifen to have a major impact as soon as it hits the market. Investors could do well to track the stock in the coming days.