Company Update (NASDAQ:ATOS): Atossa Genetics, Inc. Prices Underwritten Public Offering of 1,150,000 Common Shares
Atossa Genetics Inc (NASDAQ:ATOS) announced the pricing of an underwritten public offering of 1,150,000 shares of its common stock at a price to the public of $2.50 per share. The gross proceeds to Atossa Genetics, Inc., from this offering are expected to be approximately $2,875,000, before deducting underwriting discounts and commissions and other estimated offering expenses. Atossa Genetics, Inc. has granted the underwriters a 45-day option to purchase up to an additional 172,500 shares of common stock to cover over-allotments, if any. The offering is expected to close on September 6, 2016, subject to customary closing conditions. (Original Source)
Shares of Atossa are falling nearly 28% to $2.49 in pre-market trading. ATOS has a 1-year high of $18.45 and a 1-year low of $2.13. The stock’s 50-day moving average is $0.26 and its 200-day moving average is $0.32.
Atossa Genetics, Inc. is a clinical-stage pharmaceutical company, which focuses on the development of novel therapeutics and delivery methods for the treatment of breast cancer and other breast conditions. It offers two diagnostic tests: ForeCYTE and ArgusCYTE. The ForeCYTE Breast Health Test provides personalized information about the 10-year and lifetime risk of breast cancer for women between ages 18 and 65. The ArgusCYTE Breast Health Test provides information to help inform breast cancer treatment options and to help monitor potential recurrence. The company also intends to offer two additional diagnostics tests: FullCYTE and NextCYTE. The FullCYTE Breast Health Test is designed to assess the individual breast ducts for pre-cancerous changes in women previously identified to be at high risk for breast cancer. The NextCYTE Breast Cancer Test is designed to profile breast cancer specimens for prediction of treatment outcomes and distant recurrence in women newly diagnosed with breast cancer.