Financing ·
Atossa Therapeutics announced that its board approved a plan to issue one contingent value right (CVR) per share of…
ATOSAtossa Therapeutics, Inc.
Atossa Therapeutics announced that its board approved a plan to issue one contingent value right (CVR) per share of common stock, stapled to existing shares. These CVRs entitle holders to receive 25% of the net proceeds from the monetization of Atossa’s first qualifying rare pediatric disease priority review voucher, subject to an aggregate payment cap of $50 million. The company has received FDA rare pediatric disease designations for its lead candidate (Z)-endoxifen in Duchenne muscular dystrophy and McCune-Albright syndrome, but no product is currently approved and no voucher has been awarded. Atossa notes that disclosed priority review voucher sales have ranged from $100 million to $220 million over the past 18–24 months, though this does not guarantee future value. The CVRs will expire on December 31, 2036, if no qualifying voucher is awarded. Atossa Therapeutics operates as a clinical-stage biopharmaceutical company developing innovative medicines in oncology and rare diseases.