Avenue Therapeutics rises on positive FDA meeting for proposed study

Avenue Therapeutics

18/04/2023 11:40

** Avenue Therapeutics Inc's shares  ATXI.O  up 7.8% at
$1.24 before the bell
    ** Co reports positive U.S. FDA feedback from a meeting that
discussed a proposed study to assess the risk associated with
intravenous administration for ATXI's already approved pain
relief drug, tramadol 
    ** Last September, co conducted meeting with the FDA for the
same intravenous formulation of painkiller; based on the
regulator's suggestion, it reported another meeting
participation in early March 2023
    ** FDA and company are in agreement with the proposed study
protocol - co; ATXI expects a positive study outcome could
result in the approval of IV Tramadol
    ** Co said it is finalizing the study protocol based on the
FDA's feedback and looks forward to further discussions with the
agency to initiate a late-stage safety study this year 
    ** Stock marginally down YTD, as of last close 

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