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Clinical-stage biopharmaceutical company Atossa Therapeutics (NASDAQ: ATOS ) is currently developing treatments related to the novel coronavirus. That's enough of a reason for some folks to be interested in ATOS stock. However, investors should dig deeper and learn more about what Atossa does.

IV drip with blue background

Source: Numstocker/Shutterstock.com

Specifically, Atossa Therapeutics seeks to develop innovative medicines focused on areas of significant unmet medical needs. As we'll discover, Covid-19 patients are part of the target population that Atossa seeks to address, but they're not the only patients under consideration.

The stock recently declined in price, which might bother some prospective investors. If you decide that you like the company, though, then you could consider this decline as a potential buying opportunity.

ATOS Stock at a Glance

To start, let's look at this stock's recent price action. Not every trader believes in the concepts of support and resistance. Yet, during the past year, ATOS stock appears to have been a textbook case of these concepts in action.

I'll give you examples of what I'm talking about. Back in March of 2020, the share price declined to around 80 cents. Of course, that couldn't be blamed entirely on Atossa since the broader market was plunging at that time.

A powerful turnaround commenced after that, though, with ATOS stock climbing to around $4.35 in late July. But here's where it gets really interesting. The share price fell again, landing slightly above 80 cents in December. Then, the stock staged another swift comeback, rising up to the $4.35 area in February of 2021. Now, the share price has pulled back from there, currently in the $2.90 area.

So, as you can see, the stock has reached the same lower and upper limits on more than one occasion over the past year. Call it coincidence, or call it support and resistance. Either way, it's interesting from a technical standpoint.

Covid-19 Symptom Treatments

Many investors will want to know, first and foremost, about Atossa's Covid-19 symptom treatments.

Currently, Atossa Therapeutics has two treatment programs that are available for patients suffering from Covid-19. The first one, "COVID-19 HOPE," is for severely ill novel coronavirus patients like those who are on ventilators.

The program uses a drug combination that the company calls AT-H201, which "essentially mimic[s] the function of the antibodies formed from a vaccine by blocking the ability of the virus to enter the target cells."

What's encouraging about AT-H201 is that its two combined drugs have already been approved by the U.S. Food and Drug Administration (FDA) for other diseases. Plus, those drugs are supported by "a dozen clinical studies in close to 800 patients."

On top of AT-H201, Atossa also has a nasal spray called AT-301 that's meant to be used at home. The spray is for patients who have been diagnosed with Covid-19 but are not critically ill and don't need hospitalization. AT-301 is intended to not only lessen symptoms, but also to "slow the infection rate" of Covid-19.

So, Atossa is addressing both ends of the spectrum for novel coronavirus patients — those who are severely ill and those who are not. These programs alone make ATOS stock a compelling prospect.

Important Progress

Moving outside of the novel coronavirus, though, Atossa is also developing a drug called endoxifen.

Endoxifen is intended "to reduce mammographic breast density and, for patients who have recently been diagnosed with the most common type of breast cancer, to reduce tumor activity prior to surgery."

As the company points out, an American woman is diagnosed with breast cancer about every two minutes and some 40,000 American women die from it each year.

With endoxifen, Atossa seeks to reduce the cancer cell activity in breast cancer patients prior to surgery. Moreover, endoxifen is meant to "reduce the risk of recurrent or new breast cancer after the initial treatment."

So, this is an important program in Atossa's arsenal that any investor should be proud to support. As such, shareholders of ATOS stock should continue to monitor for new developments and progress as the firm continues to advance this drug program. It could mean great things for the therapeutics company in the future.

The Takeaway

As you can see, Atossa Therapeutics is pursuing vital treatment programs in multiple medical areas, not just Covid-19.

Some traders might not want to buy ATOS stock after the price pullback. Yet, if you can envision a strong enough future for Atossa's treatment programs, it's perfectly reasonable to take a starter position in this stock.

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.

Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett . In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation .

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Source: https://investorplace.com/2021/03/atos-stock-has-a-covid-19-connection-and-much-more/