Atossa Appoints Life Sciences Financial and Operations Industry Veteran Greg Weaver as Chief Financial Officer

SEATTLE, June 01, 2023 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (NASDAQ:ATOS), a clinical stage biopharmaceutical company developing innovative proprietary medicines to address significant unmet needs in oncology with a current focus on breast cancer, today announces the appointment of Greg Weaver as the Company's new Chief Financial Officer (CFO). Mr. Weaver succeeds Kyle Guse.

A short video interview with Mr. Weaver about his background and vision for Atossa can be found here: https://youtu.be/G6ZzHLh-qsQ

Mr. Weaver brings more than 30 years of life sciences, financial and operations experience to the Company. Recently, he served as CFO of privately held BioIntelliSense, a commercial stage med-tech company focused on remote patient monitoring. Before this, he was the CFO of atai Life Sciences (NASDAQ:ATAI), where he led a successful IPO, managed the acquisition of multiple mental health therapeutics assets, and raised more than $500 million to advance multiple clinical and discovery programs. In addition, Mr. Weaver previously served as Chief Financial Officer of Eloxx Pharmaceuticals, Inc. (NASDAQ:ELOX), where he led their reverse merger and Nasdaq listing. During his career, Mr. Weaver has managed M&A transactions involving oncology products, medical device technologies, and other biotech assets.

Earlier in his career, Mr. Weaver held roles on the executive teams of several oncology-focused, public biotech companies, including ILEX Oncology, which was acquired by Genzyme in 2005, Celsion Corporation and Poniard Pharmaceuticals, Inc. He has been involved with development programs that led to multiple FDA approvals and product launches. In addition to serving on the Atossa board since 2013, Mr. Weaver is a director of Rejuveron Life Sciences and BioIntelliSense. He also serves on the not-for-profit board of HarborPath. He began his career as a CPA with Arthur Andersen.

"We are excited to welcome Greg as our CFO and look forward to drawing from his broad experience leading biotech companies and partnering innovative products and programs within the biotechnology industry," said Steven Quay, MD, PhD, Atossa's President and Chief Executive Officer. "Greg is a trusted colleague that I and other members of the Atossa board have had the pleasure of working alongside in previous board and management roles. Greg has served on the board of Atossa since the beginning, and I am confident that his expertise in life sciences corporate strategy, financing and business development will be a vital addition to Atossa as our programs progress in later stages of clinical development. On behalf of the entire leadership team, we are excited to work with Greg to achieve our shared goal of meaningfully improving the current standard of care for cancer patients. We also want to thank our outgoing CFO Kyle Guse for his service over the past years. His partnership and contributions have been invaluable and key to the success of our Company to date. We wish him the best in his next role."

"I'm excited to join Atossa's executive team as we continue to advance the company's Phase 2 clinical trials in breast cancer and mammographic breast density," said Mr. Weaver. "Atossa is at a critical stage in its development with key clinical data readouts expected over the next year and with a strong multi-year cash position. I look forward to working on behalf of our shareholders, partners and patients to fully capitalize on the value of (Z)-endoxifen and to fundamentally change the breast cancer paradigm."

About (Z)-Endoxifen

(Z)-endoxifen is the most active metabolite of the FDA approved Selective Estrogen Receptor Modulator (SERM), tamoxifen. Studies by others have demonstrated that the therapeutic effects of tamoxifen are driven in a concentration-dependent manner by (Z)-endoxifen. In addition to its potent anti-estrogen effects, (Z)-endoxifen at higher concentrations has been shown to target PKCβ1, a known oncogenic protein.

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 greater 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. We are currently studying (Z)-endoxifen in three Phase 2 studies: one in healthy women with measurable breast density 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 Therapeutics

Atossa Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer. For more information, please visit www.atossatherapeutics.com

CONTACTS:

Greg Weaver

Chief Financial Officer

[email protected]

Eric Van Zanten

VP, Investor and Public Relations

610-529-6219

[email protected]

FORWARD LOOKING STATEMENTS

Forward-looking statements in this press release, which Atossa undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with any variation between interim and final clinical results, actions and inactions by the FDA, the outcome or timing of regulatory approvals needed by Atossa including those needed to commence studies of (Z)-endoxifen, lower than anticipated rate of patient enrollment, estimated market size of drugs under development, the safety and efficacy of Atossa's products, performance of clinical research organizations and investigators, obstacles resulting from proprietary rights held by others such as patent rights, whether reduction in breast density or in Ki-67 or any other result from a neoadjuvant study is an approvable endpoint for (Z)-endoxifen, whether Atossa can complete acquisitions, and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.