Avenue Therapeutics reports Q3 net loss $0.7M; FDA meeting on IV Tramadol and acquisition of Baergic Bio

AVENUE THERAPEUTICS, INC.

2022-Q3 EPS reported -$2.86

Q3 2022 net loss $0.7M ($0.45/share) vs $0.9M ($0.79/share) in Q3 2021.
Cash $0.2M at Sep 30, 2022 (down from $3.8M at Dec 31, 2021); then raised ~$10.4M net in October offering.
FDA agreed proposed IV Tramadol study design appears reasonable; detailed protocol submission planned.
Completed acquisition of Baergic Bio, adding BAER-101 (GABA-A α2/3 PAM) for refractory epilepsies and panic disorders.
Effected 1-for-15 reverse stock split and closed $12M public offering; regained Nasdaq compliance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

AVENUE THERAPEUTICS, INC. reported the third quarter ended September 30, 2022 results: net income Net loss attributable to common stockholders for the third quarter of 2022 was $0.7 million, or $0.45 per share.

Period: the third quarter ended September 30, 2022
Net income: Net loss attributable to common stockholders for the third quarter of 2022 was $0.7 million, or $0.45 per share
Result: reported results

Exact text from the filing

Avenue Therapeutics, Inc. (the “Company” or “Avenue”) issued a press release to provide a corporate update and to announce its financial results for the three months ended September 30, 2022.

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Source: SEC EDGAR

accession 0001104659-22-117179

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