Today, investors in Atossa Therapeutics (NASDAQ:ATOS) and ATOS stock are seeing a lot of green. Shares of ATOS stock are up approximately 27% at the time of writing on very heavy volume.
Indeed, today’s move in Atossa continues a rather impressive rally with this clinical-stage biopharmaceutical company. In fact, the company made a new 52-week high at $6.35 per share. This move brought the year-to-date rise in ATOS stock to as high as 568%.
It’s worth noting that ATOS stock did participate in the prior hypergrowth rally earlier this year. However, the company has eclipsed that previous 52-week high by a relatively wide margin of late. Additionally, ATOS stock is gaining some traction on r/WallStreetBets and other investing subreddits today.
Indeed, any near-6-bagger in less than half a year is worth discussing. Today, the company has some specific news that’s driving this rapid increase.
Let’s dive into what the company announced, and why shares are climbing at such a rapid rate today.
ATOS Stock Climbing on Final Data Release from Phase 2 Study
Today, Atossa announced the company would be releasing final data from its Phase 2 study of Endoxifen via a webinar on June 9. Endoxifen is a drug still in development as a potential therapeutic for breast cancer patients as a pre-surgical tool. Broadly, this is one of the flagship drugs that investors have their eyes on right now.
Any webinar to discuss the final data from any study is likely to be viewed by investors positively. Most biopharma companies have a tendency to want to share good news in person. Unfavorable results can often be expected via press release.
Accordingly, today’s move appears to reflect optimistic sentiment about the context of the upcoming Atossa announcement. Where this stock goes from here remains to be seen. However, investors can likely expect higher volatility over the near term.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.