Quarterly ResultMay 8, 2026, 08:37 AM
Atossa Therapeutics Q1 Net Loss $9.6M; Patent Litigation Settled
AI Summary
Atossa Therapeutics reported a net loss of $9.6 million for the three months ended March 31, 2026, an increase from $6.7 million in the prior year. The company's cash and cash equivalents decreased to $31.7 million, and it continues to face substantial doubt about its ability to continue as a going concern. Separately, the company announced a settlement agreement on April 13, 2026, resolving patent litigation related to its Endoxifen patents, which are expected to remain enforceable.
Key Highlights
- Settled patent litigation with Intas Pharmaceuticals and Jina Pharmaceuticals on April 13, 2026.
- Reported Q1 2026 net loss of $9.6 million, up from $6.7 million in Q1 2025.
- Cash and cash equivalents decreased to $31.7 million as of March 31, 2026, from $41.3 million at year-end 2025.
- Operating expenses increased by 33.1% to $9.9 million in Q1 2026 from $7.4 million in Q1 2025.
- Research and development expenses rose 14.9% to $4.8 million in Q1 2026.
- General and administrative expenses increased 56.3% to $5.1 million in Q1 2026.
- Net loss per share was $(1.11) for Q1 2026, compared to $(0.78) for Q1 2025.
- Company continues to raise substantial doubt about its ability to continue as a going concern.