Avenue Therapeutics Reports Fourth Quarter and Full Year 2017 Financial Results

Biotech Investing

Avenue Therapeutics (NASDAQ:ATXI), a company focused on the development and commercialization of intravenous (IV) tramadol, today reported financial results and recent corporate highlights for the fourth quarter and year ended December 31, 2017. As quoted in the press release: “2017 was a transformative year for Avenue, as we completed our initial public offering, raising $38.0 …

As quoted in the press release:

“2017 was a transformative year for Avenue, as we completed our initial public offering, raising $38.0 million in gross proceeds, and commenced our pivotal Phase 3 development program for IV tramadol,” said Lucy Lu, M.D., Avenue’s President and Chief Executive Officer. “We believe IV tramadol, which is widely used outside the U.S., has the potential to be a safe and effective postsurgical treatment option for patients, with less risk of abuse and dependence than conventional narcotics. We are committed to rapidly advancing our pivotal development program in 2018. We look forward to reporting topline data from our Phase 3 trial in patients following bunionectomy surgery in the second quarter, and to initiating a second Phase 3 trial in patients following abdominoplasty surgery in the third quarter of 2018.”

Click here to read the full press release.

financial results initial public offering patients phase 3 trial public offering therapeutics treatment option Biotech Investing