Atossa Therapeutics (ATOS) Stock Consolidates After The Big Jump: A Buy?
Investors are frequently on the lookout for stocks that have performed well over a period of several weeks and that is understandable considering the need to observe trends over a certain period.
By that token, it could be a good move for investors to consider the Atossa Therapeutics (NASDAQ:ATOS) stock, which has managed to deliver gains of as much as 120% over the course of the past month. It is a clinical stage biopharmaceutical firm and is currently engaged in developing new age medicines that are meant for cancers and for infectious diseases. At this point in time, Atossa is concentrating on medicines related to COVID 19 and breast cancer.
Last week, the company announced its financial results for the first fiscal quarter that ended on March 31, 2021 and also provided key updates with regards to its operations. The company did not report any source of sustainable revenues in the first quarter but at the same time investors need to note that Atossa did not record any cost of revenues either. On the other hand, Atossa reported cash, restricted cash and cash equivalents to the tune of $137.7 million in the quarter.
While it may be true that there was no cost of revenues in the quarter, the company’s total operating expenses did rise. In the first quarter, the total operating expenses stood at $3531000, while in the prior year period Atossa spent $2937000. That reflects a rise of around 20%. In this regard, it might be a better move from investors to possibly take a look at the expenses towards research and development activities.
The research and development expenses for the quarter came in at $1,379,000 and reflects a considerable rise from the $939,000 that was recorded in the prior-year period. In light of the recent gains and the company’s continued efforts, it might be a good move to keep Atossa in the watch lists.
CytoDyn (CYDY) Stock Moves Up: Will The Bounce Back Continue?
The CytoDyn Inc (OTCMKTS:CYDY) stock has seen considerable action this week owing to the events of the week so far but on Thursday, it managed to recover a bit.
The company got a major setback earlier on this week after the United States Food and Drug Administration dished out a public rebuke to CytoDyn and alleged that it had cherry picked data in order to show that its product leronlimab was effective treatment for COVID 19 patients. Following that, the stock had crashed and had recorded declines of as much as 30%. However, on Thursday, the stock managed to mount a recover and went up by 13%.
In this regard, it is necessary to note that CytoDyn also made a key appointment this week and that might have resulted in restoring some degree of confidence among investors.
The company appointed Antonio Migliarese as the new Treasurer and Chief Financial Officer. In this regard, it should be noted that Migliarese had been serving as CytoDyn’s Vice President, Corporate Comptroller prior to this appointment. He will be replacing Michael D. Mulholland, who is going to serve as the vice president of finance at CytoDyn from on.
While this appointment seems to have been welcomed by the market, a bizarre chapter was opened in the company’s current run in with the FDA. Earlier on this week, the Chief Executive Officer of CytoDyn Nader Pourhassan urged the company’s investors to stop badmouthing and trashing the FDA. The statement from the FDA with regards to the clinical trial of leronlimab had clearly not impressed the company’s investors.
The CEO stated that all the badmouthing should be directed at him and requested investors to desist from abusing the agency in any way. The FDA had earlier stated that it had been forced to make a public statement about leronlimab primarily due to the considerable public interest in the product.