April 24, 2024

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Why Avenue Therapeutics (ATXI) Shares Are Falling Today – Avenue Therapeutics (NASDAQ:ATXI)

Why Avenue Therapeutics (ATXI) Shares Are Falling Today - Avenue Therapeutics (NASDAQ:ATXI)

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  • Avenue Therapeutics Inc ATXI received the formal meeting minutes from the Fda regarding a conference executed for IV Tramadol in blend with other opioid analgesics to control average-to-moderately severe pain.
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  • At the assembly, Avenue offered a study design and style for a single security medical demo that the organization thinks could deal with the issues pertaining to challenges linked to opioid stacking.
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  • The Food and drug administration mentioned that the proposed analyze layout appears realistic and agreed with the expectation that added feed-back would be delivered to Avenue on evaluate of a far more specific research protocol. 
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  • The organization intends to submit a in depth examine protocol that could form the foundation for publishing a entire reaction to the next Entire Response Letter for IV Tramadol.
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  • In February, FDA’s adComm said that Avenue Therapeutics submitted insufficient information.
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  • In June 2021, Avenue Therapeutics acquired a 2nd Total Response Letter from the Fda relating to its marketing application searching for approval for IV tramadol.
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  • Concurrently, Avenue Therapeutics declared that it would impact a 1-for-15 reverse inventory split.
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  • Soon after the reverse inventory break up, the selection of shares will be lessened from 22.7 million to 1.5 million.
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  • Selling price Motion: ATXI shares are down 29.5% at $4.65 in the course of the premarket session on the past examine Friday.
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