SOURCE: Atossa Genetics, Inc.

Atossa Genetics, Inc.

October 01, 2010 09:30 ET

Atossa Genetics, Inc. Announces Filing of S-1 Registration Statement

SEATTLE, WA--(Marketwire - October 1, 2010) - Atossa Genetics, Inc., a privately-held healthcare company focused on the development and marketing of novel cellular and molecular diagnostic risk assessment products for breast cancer, including the patented, FDA-cleared Mammary Aspirate Specimen Cytology Test (MASCT) System, announced today that it has filed a registration statement on Form S-1 with the United States Securities and Exchange Commission (SEC) relating to the proposed sale of up to 3,000,000 Units, with each Unit consisting of: (i) one share of common stock, (ii) two Class A Warrants and (iii) one Class B Warrant. Dawson James Securities, Inc. is acting as sole book-running manager of the offering.

Proceeds from this offering will be used to establish a cytology and molecular diagnostics laboratory focused on breast cancer and to manufacture and launch the MASCT System in the Northwestern United States, including hiring and training sales personnel. The Company also intends to use a portion of the proceeds from this offering to develop a second generation of the MASCT System, to develop additional laboratory biomarker tests and to launch a national roll-out of the MASCT System.

The offering will be made only by means of a prospectus. Once available, a preliminary prospectus may be obtained from the underwriters of the offering at addresses to be announced.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

ABOUT THE MASCT SYSTEM

The FDA-cleared MASCT System is designed to collect nipple aspirate fluid (NAF), which contains cells from the lining of the milk ducts and the lobules where 85% of all breast cancers originate. Once collected, the NAF sample undergoes laboratory analysis to determine whether the cells are normal, atypical (premalignant), or malignant. The MASCT System uses no radiation, is simple, painless, and inexpensive, and takes less than 5 minutes in a doctor's office or mammography center. The MASCT System is intended as an adjunct to mammography for women ages 40 to 75 and for younger women at high risk for breast cancer.

Patients, healthcare providers, investors and others seeking information on the MASCT System or the latest information and research on breast cancer risk assessment, diagnostics, prevention, and treatment options, should visit www.atossagenetics.com.

Contact Information

  • Contacts:

    Corporate:

    Steven C. Quay, M.D., Ph.D.
    Chairman, President and CEO
    206-325-6086
    Email Contact

    Investors and Media:

    Matthew D. Haines
    Managing Director
    MBS Value Partners
    212-710-9686
    Email Contact