On October 8, 2026, Atossa Therapeutics, Inc. (Nasdaq: ATOS) announced the execution of a definitive Stapled Contingent Value Rights Agreement (the “CVR Agreement”) with VStock Transfer, LLC. In connection with this agreement, the Company’s Board of Directors declared a dividend of one stapled contingent value right (CVR) for each share of common stock outstanding at the close of business on October 19, 2026, which is the Record Date. The CVRs are governed by the CVR Agreement and represent the Company’s commitment to distribute a portion of the net proceeds from the sale of its first FDA priority review voucher (PRV) to stockholders.
The Company has received FDA Rare Pediatric Disease Designation for (Z)-endoxifen for the treatment of Duchenne muscular dystrophy and McCune-Albright syndrome. If the FDA approves a qualifying marketing application for either program or another qualifying product candidate, the Company may be awarded a priority review voucher. As of the date of the report, (Z)-endoxifen has not been approved for any indication, and no priority review voucher has been awarded to the Company.
Under the terms of the CVR Agreement, holders are entitled to a pro rata share of any “CVR Payment,” which is an aggregate amount equal to 25% of the net proceeds from the sale or deemed monetization of the first qualifying PRV awarded on or before December 31, 2036. The CVR Payments are capped at a maximum aggregate payment of $50 million. The CVRs will be stapled to the shares of common stock and may only be transferred together with the shares. The Board of Directors retains sole discretion over the development, regulatory, and commercial strategy of the Company and is not required to conduct any clinical studies, submit marketing applications, or sell any voucher to trigger a payment.
