Atossa Genetics Inc (NASDAQ:ATOS) reported Phase I data on its topical endoxifen formulation and it is now developing this as a potential treatment for high mammographic breast density (MBD), which is associated with increased breast cancer risk. The firm is also developing oral endoxifen for patients refractory to tamoxifen, and its intraductal microcatheter (IDMC), combined with established cancer drug fulvestrant. After also considering the recent $5.5m equity raise (at $0.44 per share), our rNPV-derived equity valuation is $24.6m (from $9.3m previously), or $0.93 per share.
Topical endoxifen targets high breast density
Oral tamoxifen, a selective estrogen receptor modulation (SERM) drug, reduces both MBD and the risk of cancer recurrence in women with breast cancer, but its adverse effects (AE) have limited its use. Endoxifen is a tamoxifen metabolite that is responsible for much of the oral drug’s SERM action. Atossa believes that topical endoxifen can exert SERM effects to breast tissue and reduce MBD, with fewer significant AE. Following its Phase I study showing early safety and signs of dose-dependent absorption, Atossa plans to start a 480-patient Phase II trial in Q118.
To read the entire report Please click on the pdf File Below: