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Note 1 - Nature of Operations
3 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Nature of Operations [Text Block]

NOTE 1: NATURE OF OPERATIONS

 

 Atossa Therapeutics, Inc. (the Company) was incorporated on April 30, 2009 in the State of Delaware to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company is currently focused on development of its pharmaceuticals for the treatment of the novel coronavirus (COVID-19), breast cancer and other breast conditions. The Company’s fiscal year ends on December 31.

 

Impact of the Novel Coronavirus

 

The ongoing COVID-19 pandemic may affect the Company's operations and those of third parties on which the Company relies, including causing possible disruptions in the supply of the Company's Endoxifen, AT-H201,AT-301 and the pace of enrollment in our clinical trials.  In addition, the COVID-19 pandemic may affect the operations of the U.S. FDA and other health authorities including similar entities/agencies in Sweden and Australia, which could result in delays in meetings, reviews and approvals. Additionally, while the potential economic impact brought by, and the duration of, the COVID-19 pandemic is difficult to assess or predict, the impact of the COVID-19 pandemic on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity. The ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. We do not yet know the full extent of potential delays or impacts on our business, financing or clinical trial activities or on healthcare systems or the global economy as a whole, however, we have not experienced a significant delay in the enrollment or the drug supply for our ongoing and planned clinical studies, including studies of Endoxifen, AT-301 and AT-H201. Although there have been times when the number of reported COVID-19 cases has surged, there have also been times when the number of reported cases of COVID-19 has declined in many countries. If the number of COVID-19 cases decline, it may be difficult to enroll participants in our COVID-19 clinical studies.