Atossa Genetics Inc. (NASDAQ:ATOS) Files An 8-K Results of Operations and Financial Condition

Atossa Genetics Inc. (NASDAQ:ATOS) Files An 8-K Results of Operations and Financial Condition

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Item2.02. Results of Operations and Financial Condition.

On May 11, 2017, Atossa Genetics Inc. (the Company) issued a
press release announcing first quarter 2017 financial results and
a company update. A copy of the press release is attached as
Exhibit 99.1 to this current report and is incorporated herein by
reference.

Item 3.01 Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing.

On May 11, 2017, the Company received a letter from NASDAQ that
the Company was not in compliance with NASDAQ Listing Rule
5550(a)(2) bid price, because the Company’s common stock failed
to maintain a minimum closing bid price of $1.00 per share for 30
consecutive business days. The Company has until November 7, 2017
to regain compliance. In the event the Company does not regain
compliance by then, the Company may be eligible for additional
time if at that time it meets the continued listing requirement
for market value of publicly held shares and all other initial
listing standards, with the exception of the bid price
requirement, and provides written notice to NASDAQ of its
intention to cure the deficiency during the second compliance
period, including by effecting a reverse stock split, if
necessary. The letter also states that the NASDAQ staff will
provide written notification that the Company has regained
compliance if the bid price of the Company’s common stock closes
at $1.00 per share or more for a minimum of 10 consecutive
business days.

The NASDAQ notice has no immediate effect on the listing or
trading of the Companys common stock on the NASDAQ Stock Market.
The Company intends to actively monitor the bid price for its
common stock between now and November 7, 2017, and will consider
available options to resolve the deficiency and regain compliance
with the minimum bid price requirement.

Item5.07.Submission of Matters to a Vote of Security
Holders

On May 9, 2017, the Company held its 2017 Annual Meeting of
Stockholders (the Annual Meeting). The following items of
business were considered and voted upon at the Annual Meeting:
(1) the election of two Class II directors named in the proxy
statement; (2) the ratification of the selection of BDO USA LLP
as our independent registered public accounting firm for the
fiscal year ending December 31, 2017; (3) the approval to
increase authorized shares under Atossa Genetics 2010 Stock
Option and Incentive Plan by 1,500,000 shares; and (4) the
transaction of any other business that may properly come before
the meeting or any adjournment thereof.

The number of shares of common stock entitled to vote at the
Annual Meeting was 6,008,913. The number of shares of common
stock present or represented by valid proxy at the annual meeting
was 3,133,002. All proposals passed. The number of votes cast for
and against, and the number of abstentions and broker non-votes
with respect to the matters voted upon at the Annual Meeting are
set forth below:

(i) Election of two ClassII Directors

The stockholders elected two Class II directors as set forth
below:

Nominee Votes For Votes Withheld Broker Non-Votes
Dr. Stephen Galli 1,298,422 1,834,580
Richard Steinhart 1,283,042 15,380 1,834,580
(ii) Ratification of Auditors

The stockholders ratified the appointment of BDO USA LLP as the
Companys independent registered public accounting firm for the
fiscal year ending December 31, 2017 as set forth below:

Votes For Votes Against Abstain Broker Non-Votes
3,094,484 17,837 20,681

(iii) Increase Authorized Shares under Option Plan

The stockholders approved an increase of 1,500,000 shares to the
option plan as follows:

Votes For Votes Against Abstain Broker Non-Votes
857,839 432,020 8,563 1,834,580

The information in the report, including Exhibit 99.1
attached hereto, shall not be deemed to be filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that Section or Sections
11 and 12(a)(2) of the Securities Act of 1933, as amended. The
information contained herein and in the accompanying exhibit
shall not be incorporated by reference into any filing with the
U.S. Securities and Exchange Commission made by the Company,
whether made before or after the date hereof, regardless of any
general incorporation language in such filing.

Item9.01. Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description
99.1 Press Release, dated May 11, 2017

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About Atossa Genetics Inc. (NASDAQ:ATOS)

Atossa Genetics Inc. is a clinical-stage pharmaceutical company focused on the development of therapeutics and delivery methods for the treatment of breast cancer and other breast conditions. The Company’s leading program uses its intraductal microcatheters, which deliver pharmaceuticals through the breast ducts. It has initiated a Phase II clinical study using its microcatheters to deliver fulvestrant as a treatment of ductal carcinoma in-situ (DCIS) and breast cancer. Its second pharmaceutical program under development is Afimoxifene Topical Gel (AfTG) for the treatment and prevention of hyperplasia of the breast. It is also engaged in the process of evaluating other therapeutic candidates to treat other breast conditions, including breast cancer. Its medical devices include the ForeCYTE Breast Aspirator and the FullCYTE Breast Aspirator. These devices are intended for the collection of nipple aspirate fluid (NAF) for cytological testing at a laboratory.

Atossa Genetics Inc. (NASDAQ:ATOS) Recent Trading Information

Atossa Genetics Inc. (NASDAQ:ATOS) closed its last trading session down -0.010 at 0.560 with 98,469 shares trading hands.

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