Atossa Genetics, Inc. Prices Underwritten Public Offering of 1,150,000 Common Shares SEATTLE, WA - (Marketwired) - 08/31/16 - Atossa Genetics, Inc. (NASDAQ: ATOS), today announced the pricing of an underwritten public of

Genetics, Inc. Prices Underwritten Public Offering of 1,150,000 Common Shares

SEATTLE, WA - (Marketwired) -

08/31/16 - Atossa Genetics, Inc. (NASDAQ: ATOS), today announced the pricing of an underwritten public

offering of 1,150,000 shares of its common stock at a price to the public of $2.50 per share. The gross proceeds to Atossa Genetics,

Inc., from this offering are expected to be approximately $2,875,000, before deducting underwriting discounts and commissions and

other estimated offering expenses. Atossa Genetics, Inc. has granted the underwriters a 45-day option to purchase up to an additional

172,500 shares of common stock to cover over-allotments, if any. The offering is expected to close on September 6, 2016, 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 November 29, 2013.

This offering is being made pursuant to

an effective shelf registration statement (No. 333-192390) previously filed with the U.S. Securities and Exchange Commission (the

"SEC"). A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering

has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Before investing

in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and

the other documents that Atossa Genetics, Inc. has filed with the SEC that are incorporated by reference in such prospectus supplement

and the accompanying prospectus, which provide more information about Atossa Genetics, Inc. and such offering.

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 Genetics

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 visit www.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.

Atossa Genetics Company Contact:

Atossa Genetics, Inc.

CFO and General Counsel

Investor Relations Contact:

Garden City, NY 11530

Office: 516.222.2560