Overview

• U.S. biopharma firm's Q1 net loss widened yr/yr on higher R&D and legal expenses

• Company secured FDA Orphan Drug and Rare Pediatric Disease designations for (Z)-endoxifen in new indications

• Atossa added two medical directors to strengthen clinical leadership in breast oncology and rare diseases

Outlook

• Company did not provide specific financial guidance for the current qtr or full yr

Result Drivers

• R&D SPENDING - Higher clinical and pre-clinical trial costs for (Z)-endoxifen drove increased R&D expenses

• LEGAL EXPENSES - Higher legal fees from patent litigation and IP management raised G&A costs

• INTEREST INCOME DECLINE - Lower average cash balances led to reduced interest income

Company press release: ID:nPn2xR33Da

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$1.11
Q1 Net Income		-$9.59 mln
Q1 Operating Expenses		$9.87 mln
Q1 Operating Income		-$9.87 mln
Q1 Pretax Profit		-$9.59 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Atossa Therapeutics Inc is $24.00, about 323.3% above its May 7 closing price of $5.67

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