Why Atossa Therapeutics Stock Soared Today

Shares of Atossa Therapeutics (NASDAQ: ATOS) continued their recent ascent on Thursday following promising announcements related to its breast cancer drug earlier this week. As of 2:50 p.m. EST, the biopharmaceutical company's stock price was up 40%.

Atossa Therapeutics said on Tuesday that "substantially positive results" from its Australian phase 2 clinical trial of Endoxifen prompted it to end the study early and accelerate the drug's development in the U.S. "It is a welcome event to halt an ongoing clinical trial because the results are so overwhelmingly positive," CEO Steven Quay said in a press release.

The first six participants in Atossa's Australian study saw an average reduction of 74% in tumor cell activity. Moreover, the patients' tumor cell activity levels dropped below a threshold that studies have shown to improve long-term survival rates.

Source Fool.com