Atossa Therapeutics Appoints Heather Rees as Chief Financial Officer
03 July 2024 - 6:15AM
Atossa Therapeutics, Inc. (Nasdaq: ATOS) (“Atossa” or the
“Company”), today announced the appointment of Heather Rees as the
Company’s new Chief Financial Officer (CFO). Ms. Rees most recently
served as Atossa’s Senior Vice President of Finance and Principal
Accounting Officer. Atossa is a clinical stage biopharmaceutical
company developing innovative medicines in areas of significant
unmet medical need in oncology with a focus on breast cancer.
Ms. Rees brings almost 30-years of accounting, business and
financial experience to the CFO role. She has spent the last seven
years of her career at Atossa having joined the Company as
Controller in 2017. Prior to joining Atossa, Ms. Rees led a
consulting practice that delivered financial and accounting
services to companies including Getty Images Inc., Flow
International Corp, and Avalara, Inc. Earlier in her career she
served as Controller of the Americas for Irdeto Inc. She began her
career at Deloitte & Touche where she rose to the level of Sr.
Manager in the firm’s Audit practice. Ms. Rees was licensed as a
Certified Public Accountant by the state of Washington in 1996.
“Heather’s partnership and contributions have been invaluable
and key to the success of our Company to date, which is why she was
the obvious choice to become our new Chief Financial Officer,” said
Steven Quay, M.D., Ph.D., Atossa’s President and Chief Executive
Officer. “This appointment is testament to her exemplary
performance over the past seven years and the deep industry and
functional knowledge she brings to the role. With Heather as our
CFO, multiple data milestones coming later this year and a strong
balance sheet that provides approximately three years of working
capital, we are well positioned to deliver on our mission and to
create long-term value for our shareholders.”
“I am excited and proud to be named Atossa’s new Chief Financial
Officer,” said Ms. Rees. “The Company is at a critical stage of its
development, and I look forward to continuing to work closely with
the board and the team to fully capitalize on the value of
(Z)-endoxifen and make a meaningful difference in the lives of
patients with breast cancer.”
About (Z)-Endoxifen(Z)-endoxifen is the most
potent Selective Estrogen Receptor Modulator (SERM) for estrogen
receptor inhibition and also causes estrogen receptor degradation.
It has also been shown to have efficacy in the setting of patients
with tumor resistance to other hormonal treatments. In addition to
its potent anti-estrogen effects, (Z)-endoxifen has been shown to
target PKCβ1, a known oncogenic protein, at clinically attainable
blood concentrations. Finally, (Z)-endoxifen appears to deliver
similar or even greater bone agonistic effects while resulting in
little or no endometrial proliferative effects compared with
standard treatments, like tamoxifen.
Atossa is developing a proprietary oral formulation of
(Z)-endoxifen that does not require liver metabolism to achieve
therapeutic concentrations and is encapsulated to bypass the
stomach, as acidic conditions in the stomach convert a significant
proportion of (Z)-endoxifen to the inactive (E)-endoxifen. Atossa’s
(Z)-endoxifen has been shown to be well tolerated in Phase 1
studies and in a small Phase 2 study of women with breast cancer.
(Z)-endoxifen is currently being studied in four Phase 2 trials:
one in healthy women with measurable breast density, one in women
diagnosed with ductal carcinoma in situ, and two other studies
including the EVANGELINE study in women with ER+/HER2- breast
cancer. Atossa’s (Z)-endoxifen is protected by three issued U.S.
patents and numerous pending patent applications.
About Atossa TherapeuticsAtossa Therapeutics,
Inc. is a clinical-stage biopharmaceutical company developing
innovative medicines in areas of significant unmet medical need in
oncology with a focus on using (Z)-endoxifen to prevent and treat
breast cancer. For more information, please visit
www.atossatherapeutics.com.
Contact:Eric Van ZantenVP, Investor and Public
Relations610-529-6219eric.vanzanten@atossainc.com
FORWARD LOOKING STATEMENTSThis press release
contains certain information that may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. We may identify these forward-looking
statements by the use of words such as “expect,” “potential,”
“continue,” “may,” “will,” “should,” “could,” “would,” “seek,”
“intend,” “plan,” “estimate,” “anticipate,” “believe,” “future,” or
other comparable words. Forward-looking statements in this press
release are subject to risks and uncertainties that may cause
actual results, outcomes, or the timing of actual results or
outcomes, including the timing of data related to the (Z)-endoxifen
program, the potential of (Z)-endoxifen as a breast cancer
prevention and treatment agent, and the potential safety and
tolerability profile of (Z)-endoxifen, to differ materially from
those projected or anticipated, including risks and uncertainties
associated with: macroeconomic conditions and increasing
geopolitical instability; the expected timing of releasing data;
any variation between interim and final clinical results; actions
and inactions by the FDA and foreign regulatory bodies; the outcome
or timing of regulatory approvals needed by Atossa, including those
needed to continue our planned (Z)-endoxifen trials; our ability to
satisfy regulatory requirements; our ability to comply with the
continued listing requirements of the Nasdaq Stock Market; our
ability to successfully develop and commercialize new therapeutics;
the success, costs and timing of our development activities,
including our ability to successfully initiate or complete our
clinical trials, including our (Z)-endoxifen trials; our
anticipated rate of patient enrollment; our ability to contract
with third-parties and their ability to perform adequately; our
estimates on the size and characteristics of our potential markets;
our ability to successfully defend litigation and other similar
complaints and to establish and maintain intellectual property
rights covering our products; whether we can successfully complete
our clinical trial of oral (Z)-endoxifen in women with mammographic
breast density and our trials of (Z)-endoxifen in women with breast
cancer, and whether the studies will meet their objectives; our
expectations as to future financial performance, expense levels and
capital sources, including our ability to raise capital; our
ability to attract and retain key personnel; our anticipated
working capital needs and expectations around the sufficiency of
our cash reserves; and other risks and uncertainties detailed from
time to time in Atossa’s filings with the Securities and Exchange
Commission, including without limitation its Annual Reports on Form
10-K and Quarterly Reports on 10-Q. Forward-looking statements are
presented as of the date of this press release. Except as required
by law, we do not intend to update any forward-looking statements,
whether as a result of new information, future events or
circumstances or otherwise.
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