Atossa Therapeutics Inc., a clinical-stage biopharmaceutical company, announced its financial results for the first quarter ended March 31, 2025. The company reported no revenue for this period, similar to the same quarter in 2024. Operating expenses increased to $7.4 million from $7.0 million in the previous year, driven primarily by a $0.3 million rise in both research and development compensation expenses and professional fees for regulatory consulting services. Research and development expenses totaled $4.157 million, up from $3.748 million in the first quarter of 2024. Clinical and pre-clinical trial expenses saw a slight decrease of $0.1 million, attributed to reduced spending on $(Z)$-endoxifen trials. In a strategic update, Atossa announced plans to focus on the metastatic breast cancer indication for its lead program, (Z)-endoxifen. This decision underscores the company's commitment to addressing the unmet medical needs in metastatic breast cancer. The company also expanded its intellectual property portfolio with three new U.S. patents related to (Z)-endoxifen, increasing their total patent claims to over 200. Atossa ended the first quarter of 2025 with $65.1 million in cash and cash equivalents, maintaining a debt-free status.
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