Avenue Therapeutics Receives Positive Listing Determination from Nasdaq
March 15 2024 - 8:15AM
Avenue Therapeutics, Inc. (Nasdaq: ATXI) (“Avenue” or the
“Company”), a specialty pharmaceutical company focused on the
development and commercialization of therapies for the treatment of
neurologic diseases, today announced that by decision dated March
11, 2024, the Nasdaq Hearings Panel granted the Company’s request
for an extension to evidence compliance with all applicable
criteria for continued listing on The Nasdaq Capital Market,
including the $1.00 bid price and $2.5 million stockholders’ equity
requirements, through May 20, 2024. The Company is considering all
available options that may enable it to timely evidence compliance
with the continued listing criteria and maintain its listing on
Nasdaq; however, there can be no assurance that the Company will be
able to do so.
About Avenue TherapeuticsAvenue
Therapeutics, Inc. (Nasdaq: ATXI) is a specialty pharmaceutical
company focused on the development and commercialization of
therapies for the treatment of neurologic diseases. It is currently
developing three assets including AJ201, a first-in-class asset for
spinal and bulbar muscular atrophy, BAER-101, an oral small
molecule selective GABAA α2, α3 receptor positive allosteric
modulator for CNS diseases, and IV tramadol, which is in Phase 3
clinical development for the management of acute postoperative pain
in adults in a medically supervised healthcare setting. Avenue is
headquartered in Miami, FL and was founded by Fortress Biotech,
Inc. (Nasdaq: FBIO). For more information, visit
www.avenuetx.com.
Forward-Looking StatementsThis
press release contains predictive or “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of current or
historical fact contained in this press release, including
statements that express our intentions, plans, objectives, beliefs,
expectations, strategies, predictions or any other statements
relating to our future activities or other future events or
conditions are forward-looking statements. The words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “predict,” “project,” “will,” “should,” “would” and
similar expressions are intended to identify forward-looking
statements. These statements are based on current expectations,
estimates and projections made by management about our business,
our industry and other conditions affecting our financial
condition, results of operations or business prospects. These
statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in, or implied by, the
forward-looking statements due to numerous risks and uncertainties.
Factors that could cause such outcomes and results to differ
include, but are not limited to, risks and uncertainties arising
from: expectations for increases or decreases in expenses;
expectations for the clinical and pre-clinical development,
manufacturing, regulatory approval, and commercialization of our
pharmaceutical product candidate or any other products we may
acquire or in-license; our use of clinical research centers and
other contractors; expectations for incurring capital expenditures
to expand our research and development and manufacturing
capabilities; expectations for generating revenue or becoming
profitable on a sustained basis; expectations or ability to enter
into marketing and other partnership agreements; expectations or
ability to enter into product acquisition and in-licensing
transactions; expectations or ability to build our own commercial
infrastructure to manufacture, market and sell our product
candidates; acceptance of our products by doctors, patients or
payors; our ability to compete against other companies and research
institutions; our ability to secure adequate protection for our
intellectual property; our ability to attract and retain key
personnel; availability of reimbursement for our products;
estimates of the sufficiency of our existing cash and cash
equivalents and investments to finance our operating requirements,
including expectations regarding the value and liquidity of our
investments; the volatility of our stock price; expected losses;
expectations for future capital requirements; the ability to
achieve and maintain continued compliance with certain Nasdaq
continued listing rules; and those risks discussed in our filings
which we make with the SEC. Any forward-looking statements speak
only as of the date on which they are made, and we undertake no
obligation to publicly update or revise any forward-looking
statements to reflect events or circumstances that may arise after
the date of this press release, except as required by applicable
law. Investors should evaluate any statements made by us in light
of these important factors.
Contact: Jaclyn Jaffe Avenue Therapeutics, Inc.
(781) 652-4500ir@avenuetx.com
Avenue Therapeutics (NASDAQ:ATXI)
Historical Stock Chart
From Nov 2024 to Dec 2024
Avenue Therapeutics (NASDAQ:ATXI)
Historical Stock Chart
From Dec 2023 to Dec 2024