The company's management is not trustworthy. The only product generated little revenues after over 2 years since approval. The company's cash is running out soon after Q1 2015.
Atossa Genetics (NASDAQ:ATOS) went up over 40% in early trading when it announced Henry Schein will offer Atossa Genetics' FullCYTE Breast Aspirator on Feb 26th, 2015. Traders and investors have been repetitively trapped by this type of trivial news over the last year. As investors and traders are chasing the stocks, we would like to remind you of the spotty history of the management and the cash hungry status. Atossa's management is not trustworthy
investors were burned badly in Oct 2013 when Atossa initiated a voluntary recall of the ForeCYTE Breast Aspirator. The stock price dropped from over $5 to 2'sh instantly.
Specifically, the FDA stated that the Instructions For Use (IFU) in the original 510(k) submission stated that the user must "Wash the collection membrane with fixative solution into the collection vial
" while the current IFU states "
apply one spray of Saccomanno's Fixative to the collection membrane
" and that "this change fixes the NAF specimen to the filter paper rather than washing it into a collection vial."
(click to enlarge)
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