Atossa Genetics, Inc. Prices $4,000,000 Public Offering

SEATTLE, WA--(Marketwired - Mar 29, 2017) - Atossa Genetics, Inc. (NASDAQ: ATOS), today announced the pricing of an underwritten public offering with anticipated gross proceeds of $4,000,000, before deducting underwriting discounts, commissions and other offering expenses. The offering consists of (i) Class A Units consisting of 664,000 shares of our Common Stock and Warrants to purchase 664,000 shares of Common Stock, and (ii) Class B Units consisting of 3,502 shares of our Series A Convertible Preferred Stock, with a face value of $1,000 and each convertible into 1,333.33 shares of Common Stock, and Warrants exercisable for the number of shares of Common Stock into which the shares of Series A Convertible Preferred Stock are convertible. The Warrants will have an exercise price of $0.9375, will be exercisable upon issuance and will expire five years from the date of issuance. Atossa has granted the underwriters a 45-day option to purchase up to an additional 800,000 shares of Common Stock and/or 800,000 Warrants to cover over-allotments, if any. The offering is expected to close on April 3, 2017, subject to customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission and became effective on March 28, 2017.

The offering will be made only by means of a prospectus. A copy of the prospectus relating to the offering may be obtained, when available, by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: prospectus@aegiscap.com. Investors may also obtain these documents at no cost by visiting the SEC's website at http://www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Atossa

Atossa Genetics, Inc. is a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions. For more information, please visitwww.atossagenetics.com.

Forward-Looking Statements

Forward-looking statements in this press release, which Atossa undertakes no obligation to update, are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with completion of the offering, actions and inactions by the FDA, the outcome or timing of regulatory approvals needed by Atossa, lower than anticipated rate of patient enrollment, results of clinical studies and timing of publication of those results, the safety and efficacy of Atossa's products and services, performance of clinical research organizations and investigators, obstacles resulting from proprietary rights held by others with respect to Fulvestrant, such as patent rights, and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.