Atossa Therapeutics Elevates Mark Daniel to Chief Financial Officer for Strategic Growth

Atossa Appoints Mark Daniel as CFO

Atossa Therapeutics, Inc. has announced the appointment of Mark Daniel, CPA, as its new Chief Financial Officer (CFO), effective immediately. This strategic move aims to enhance the company’s financial, system, and capital strategies as it shifts toward commercial readiness with its new product (Z)-endoxifen, a novel approach in breast cancer treatment.

Mark Daniel, a recognized leader in life sciences finance, brings over 25 years of experience to Atossa. He has built a reputation for implementing stringent revenue forecasting methods and operational effectiveness in public companies, particularly in the life sciences sector. His expertise includes managing substantial operating budgets and implementing strong financial controls that ensure compliance and efficiency.

As the healthcare industry evolves rapidly, Atossa sought an experienced professional who can navigate these complexities. Mr. Daniel’s past roles have included overseeing operating expenses exceeding $200 million and executing cost-saving programs that have realized savings of over $50 million. His background also includes managing significant cash portfolios, understanding capital markets, and ensuring strategic financial management under various conditions.

Steven Quay, M.D., Ph.D., Chairman and CEO of Atossa, expressed confidence in Daniel's abilities. He stated, “Mark has built and run that playbook in public life-science companies, standing up weekly revenue forecasts with sales, installing ERP/BI visibility from bookings to cash, tightening controls, and ensuring liquidity through volatile markets.” This confidence reflects a broader strategy aimed at preparing Atossa for its impending transition into a commercial enterprise, signalling readiness to not only streamline operations but also effectively manage the financial implications of launching a new therapeutic product.

In response to this appointment, Daniel expressed enthusiasm about contributing to Atossa's strategic goals. He stated, “I'm excited to help Atossa operationalize commercial readiness—from FPA cadence and revenue forecasting to capital planning and investor engagement.” He emphasized the importance of aligning financial resources with the company’s milestones to foster a balanced financing strategy.

The significance of this hire at Atossa cannot be overstated. The company is preparing for a critical period of growth as it approaches the commercialization of (Z)-endoxifen. The next stage involves rigorous financial management ensuring that the resources are allocated effectively across various operational fronts.

Daniel’s role will entail fostering greater visibility into Atossa’s revenue streams, ensuring financial discipline, and streamlining capital strategy to support operational growth. Specifically, he will establish a carefully calibrated approach to financing growth, while minimizing dilution of shareholder equity—a balance essential for a company on the brink of significant transition.

Notably, in his previous positions, he successfully managed a $400 million cash and investments portfolio, guiding financing strategies that have been pivotal in similar transitions.

As Atossa move toward its next phase, his wealth of knowledge in managing international subsidiaries and supply agreements adds another layer of value to the company. The CFO's ability to translate broad financial strategies into actionable plans will be critical in the coming months as the company’s commercial objectives come to fruition.

Looking ahead, Atossa Therapeutics appears to be on a promising trajectory. Armed with Mark Daniel at the financial helm, the company is poised to enter the market with confidence, driven by an experienced leader who understands the nuances of life sciences finance. With a solid plan in place, the team at Atossa remains committed to improving breast cancer treatment outcomes through innovative therapies.

For more information about Atossa Therapeutics and its current strategies, visit Atossa's official website and check their filings with the U.S. Securities and Exchange Commission (SEC) for the latest updates on their road to commercialization.