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Avenue Therapeutics, Inc. - ATXI STOCK NEWS

Welcome to our dedicated page for Avenue Therapeutics news (Ticker: ATXI), a resource for investors and traders seeking the latest updates and insights on Avenue Therapeutics stock.

Avenue Therapeutics, Inc. (NASDAQ: ATXI), a subsidiary of Fortress Biotech (NASDAQ: FBIO), is a specialty pharmaceutical company headquartered in Miami, FL. Avenue focuses on developing and commercializing therapies for the treatment of neurologic diseases. The company's core product pipeline includes AJ201 for spinal and bulbar muscular atrophy (SBMA), BAER-101 for epilepsy and panic disorders, and IV tramadol for moderate-to-moderately-severe postoperative pain management. Avenue is currently engaged in a pivotal Phase 3 program for IV tramadol, which aims to fill a therapeutic gap in the acute pain market between IV acetaminophen/NSAIDs and conventional narcotics. AJ201, designed for SBMA or Kennedy’s Disease, is in the Phase 1b/2a clinical trial stage, with topline data expected in mid-2024. Additionally, BAER-101 has shown promising preclinical results in epilepsy models and is slated for further development contingent on financing. The company continues to advance its innovative drug pipeline while maintaining strategic partnerships and exploring new opportunities for growth in the pharmaceutical market. Recent achievements include completion of patient enrollment for AJ201’s Phase 1b/2a trial, FDA alignment on the Phase 3 safety study for IV tramadol, and multiple public equity offerings raising substantial gross proceeds. Avenue's commitment to providing impactful therapies to patients with unmet medical needs underscores its significance in the specialty pharmaceutical sector. For more information, visit www.avenuetx.com.

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Aegis Capital Corp. has successfully completed a $2.6 million public offering of common stock for Avenue Therapeutics (NASDAQ: ATXI). The funds raised through this offering are aimed at advancing Avenue's mission to develop IV tramadol, a potential alternative to conventional opioids for acute pain management in the U.S. Avenue Therapeutics was founded by Fortress Biotech (NASDAQ: FBIO) and is positioned to address the growing need for effective pain relief solutions.

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Avenue Therapeutics (NASDAQ: ATXI) has successfully concluded a public offering of 1,946,787 shares at a price of $1.34 per share, generating approximately $2.6 million in gross proceeds. The offering includes a 45-day option for Aegis Capital Corp. to buy an additional 292,018 shares. This funding aims to support the development of intravenous tramadol, intended as a safer alternative for acute pain management. Avenue Therapeutics is committed to mitigating opioid reliance in the U.S.

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Avenue Therapeutics (NASDAQ: ATXI) announced the pricing of a public offering, aiming to raise approximately $2.6 million before expenses. The offering consists of 1,946,787 shares priced at $1.34 each, intended for working capital and corporate purposes. An additional 15% over-allotment option could increase gross proceeds to around $3 million. The closing of the offering is anticipated on November 12, 2021, pending standard conditions. Aegis Capital Corp. is the sole book-running manager for this offering.

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Avenue Therapeutics (NASDAQ: ATXI) announced on October 25, 2021, that the FDA's Office of New Drugs requires additional input before deciding on the Formal Dispute Resolution Request regarding its intravenous tramadol. The FDA plans to hold an Advisory Committee meeting to gather advice from both the Anesthetic and Analgesic Drug Products and Drug Safety and Risk Management Committees. A response to the FDRR is anticipated within 30 days after the meeting.

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Avenue Therapeutics (NASDAQ: ATXI) announced it received a second Complete Response Letter (CRL) from the FDA regarding its New Drug Application for intravenous tramadol. The FDA cited that the unpredictable onset of analgesia does not support its use as monotherapy for acute pain and questioned its safety and efficacy with other analgesics. Avenue disagrees with the FDA's interpretation and plans to pursue regulatory approval.

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Avenue Therapeutics announced that the FDA has not yet provided a decision on the New Drug Application (NDA) for IV tramadol. An acknowledgment letter from the FDA confirmed the resubmission was complete, with a PDUFA goal date set for April 12, 2021. The NDA resubmission followed a Complete Response Letter issued in October 2020, and included revised product labeling and sterilization reports. The company aims to develop IV tramadol as a potentially reduced risk alternative to traditional opioids for acute pain management.

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Avenue Therapeutics, Inc. (NASDAQ: ATXI) announced the release of a publication analyzing tramadol misuse in four European countries in the journal Drug and Alcohol Dependence. This study, involving 45,000 responses, concluded that tramadol has a low rate of misuse compared to conventional opioids. Even with IV tramadol's availability, misuse via injection is rare. The research aims to understand tramadol's potential as a safer alternative to conventional opioids for acute pain management in the U.S.

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Avenue Therapeutics (NASDAQ: ATXI) has announced the publication of a study on the nonmedical use (NMU) of tramadol versus other opioids, revealing tramadol's lower rates of NMU and diversion. Published in Drug Safety, the study, which analyzed data from 2010 to 2018, found tramadol to have significantly less abuse potential compared to morphine, oxycodone, and hydrocodone. This supports prior assessments by WHO and the U.S. Drug Enforcement Agency regarding tramadol's low potential for misuse. Avenue aims to develop IV tramadol as a safer alternative for acute pain management in the U.S.

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Avenue Therapeutics (NASDAQ: ATXI) announced plans to resubmit its New Drug Application (NDA) for intravenous (IV) tramadol to the FDA in February 2021, following a Type A meeting. This meeting was held to discuss a Complete Response Letter received regarding the NDA. The resubmission will include revised product label language and a terminal sterilization validation report. Avenue aims to position IV tramadol as an alternative for acute pain management, potentially reducing dependence on conventional opioids. The company is based in New York City.

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Avenue Therapeutics (NASDAQ: ATXI) has received a Complete Response Letter (CRL) from the FDA concerning its New Drug Application (NDA) for intravenous tramadol, intended for acute pain management. While Phase 3 trials showed significant efficacy, the FDA cited safety concerns regarding the potential need for rescue analgesics, which may lead to opioid stacking risks. Additionally, the FDA noted the requirement for adequate terminal sterilization validation. Avenue's CEO expressed confidence in IV tramadol's safety and plans to meet with the FDA to address these issues.

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FAQ

What is the current stock price of Avenue Therapeutics (ATXI)?

The current stock price of Avenue Therapeutics (ATXI) is $2.01 as of November 22, 2024.

What is the market cap of Avenue Therapeutics (ATXI)?

The market cap of Avenue Therapeutics (ATXI) is approximately 3.8M.

What is Avenue Therapeutics, Inc.'s primary focus?

Avenue Therapeutics, Inc. focuses on developing and commercializing therapies for the treatment of neurologic diseases, including SBMA, epilepsy, and acute postoperative pain.

What are the main products in Avenue Therapeutics' pipeline?

The main products are AJ201 for spinal and bulbar muscular atrophy (SBMA), BAER-101 for epilepsy and panic disorders, and IV tramadol for moderate-to-moderately-severe postoperative pain.

What is the current status of AJ201?

AJ201 is in Phase 1b/2a clinical trials for the treatment of spinal and bulbar muscular atrophy. Topline data from this trial are expected in mid-2024.

What recent achievements has Avenue Therapeutics made?

Recent achievements include completing patient enrollment for AJ201’s Phase 1b/2a trial, reaching FDA agreement on the Phase 3 safety study for IV tramadol, and raising substantial funds through public equity offerings.

How does IV tramadol fit into the acute pain market?

IV tramadol aims to fill a gap in the acute pain market by providing a pain management option that falls between IV acetaminophen/NSAIDs and conventional narcotics.

What are the future plans for BAER-101?

BAER-101, which has shown promising preclinical results, is planned to enter Phase 2a clinical trials to further study its anti-seizure properties in patients with epilepsy, pending additional financing.

Who founded Avenue Therapeutics, Inc.?

Avenue Therapeutics, Inc. was founded by Fortress Biotech, Inc. (NASDAQ: FBIO).

Where is Avenue Therapeutics headquartered?

Avenue Therapeutics is headquartered in Miami, FL.

How does Avenue Therapeutics aim to enhance shareholder value?

Avenue Therapeutics aims to enhance shareholder value by advancing its clinical pipeline, securing regulatory approvals, and providing impactful therapies to patients with neurologic diseases.

Where can I find more information about Avenue Therapeutics' clinical trials?

More detailed information about Avenue Therapeutics’ clinical trials can be found on their official website at www.avenuetx.com.

Avenue Therapeutics, Inc.

Nasdaq:ATXI

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Biotechnology
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