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.