Avenue Therapeutics jumps on finalizing pain relief drug's study design with FDA

Avenue Therapeutics

04/01/2024 14:15

** Shares of Avenue Therapeutics  ATXI.O  jump 80% to $0.31
premarket
    ** Co reaches final agreement with U.S. FDA on late-stage
safety study protocol to test risk associated with
administration of a already approved pain relief drug, tramadol
    ** Avenue plans to initiate study as soon as possible,
subject to getting necessary financing - CFO
    ** Co adds it could potentially have study results in-hand
as early as the end of this year
    ** ATXI stock fell 86% in 2023 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))