Q4 2024 Atossa Therapeutics Inc Earnings Call Transcript
Key Points
- Atossa Therapeutics Inc (ATOS) is advancing its lead program, Z-endoxifen, in metastatic breast cancer, which is a clinical setting of high unmet need.
- Z-endoxifen has shown promising results in clinical trials, including a 26% clinical benefit rate in patients with endocrine refractory ER-positive/HER2-negative metastatic breast cancer.
- The company has reduced its total operating expenses by $3.8 million in 2024, reflecting disciplined spending in R&D and G&A.
- Atossa Therapeutics Inc (ATOS) closed the year with $71.1 million in cash and cash equivalents, providing a healthy runway for future research initiatives.
- Z-endoxifen demonstrated robust plasma concentration and clinically meaningful activity, potentially offering a more tolerable safety profile and improved patient adherence.
- Patient adherence to endocrine therapy remains a significant challenge, with 30% to 50% of patients discontinuing treatment prematurely.
- Resistance to endocrine therapy is a major hurdle, leading to disease progression in many cases.
- The company wrote off its remaining investment in Dynamic Cell Therapies, amounting to $1.7 million, as they ceased operations in the fourth quarter of 2024.
- There is a need for therapies that can effectively induce apoptosis in tumor cells, which remains a challenge in current treatment options.
- The focus on the US FDA process may delay global market entry, as international regulatory discussions are planned for early next year.
Good morning, everyone, and welcome to the Atossa Therapeutics fourth quarter and full year 2024 earnings conference call. My name is Joelle, and I will be your conference operator today. (Operator Instructions) A replay of this call will be available on the Investor Relations section of the Atossa Therapeutics website after its conclusion.
I will now turn the call over to Michael Parks, Vice President of Investor Relations at Atossa Therapeutics. Michael, please proceed.
Thank you, Joelle. Good morning, everyone, and welcome to Atossa Therapeutics conference call to discuss our year-end 2024 financial results and business update. The press release on these financial results was issued this morning and can be found in our Investors section of the corporate website at atossatherapeutics.com. On this morning's call, the team will provide a business overview of our progress in 2024 and recent events.
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