Avenue Therapeutics Q1 net loss $7.5M; advances AJ201 and IV Tramadol programs

AVENUE THERAPEUTICS, INC.

Net loss of $7.5M ($1.37 per share) vs $2.9M loss ($2.05 per share) in Q1 2022.
Cash and equivalents $8.2M at March 31, 2023, up from $6.7M at December 31, 2022.
R&D expenses $1.2M plus $4.2M in licenses acquired (AJ201) vs $1.8M prior-year period.
Entered exclusive license for AJ201 (SBMA treatment); Phase 1b/2a trial ongoing; FDA orphan drug designation.
FDA agreed on most aspects of IV Tramadol safety confirmatory trial protocol; pending final statistical analysis plan.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AVENUE THERAPEUTICS, INC. reported the first quarter ended March 31, 2023 results: net income $7.5 million, or $1.37 per share, EPS $1.37 per share.

Period: the first quarter ended March 31, 2023
Net income: $7.5 million, or $1.37 per share
EPS: $1.37 per share
Result: reported results

Exact text from the filing

Net loss attributable to common stockholders for the first quarter of 2023 was $7.5 million, or $1.37 per share, compared to a net loss of $2.9 million, or $2.05 per share, for the first quarter of 2022.

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Source: SEC EDGAR

accession 0001104659-23-059454

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