Atossa Genetics (ATOS) Stock Gains After Receiving Breast Cancer Detection Patent

NEW YORK (TheStreet) -- Atossa Genetics (ATOS) shares are up 5.73% to $1.39 on heavy volume in trading on Thursday after the breast health company announced that the U.S. Patent and Trademark office issued a new patent to the company for its absorbent paper breast cancer detection test.

The company must still receive regulatory approval from the Food and Drug Administration in order to market the paper for medical use however and none of the products related to the patent have been approved as of yet.

"We are thrilled with the issuance of a U.S. patent for methods for identifying an individual's risk of developing breast cancer using absorbent paper to collect the individual's nipple aspirate fluid," said CEO Dr. Steven Quay. " Our patent estate now includes 147 issued patents and this particular patent is a big step forward in creating stockholder value and securing our proprietary rights to develop devices and tests that might one day be used to predict the risk of developing breast cancer.

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