Avenue Therapeutics Q2 net loss $4.0M; first AJ201 patient dosed, FDA agrees on tramadol Phase 3 design

AVENUE THERAPEUTICS, INC.

Net loss of $4.0M ($0.52 per share) vs $0.6M ($0.41) in Q2 2022; cash $1.6M down from $6.7M at year-end 2022.
First patient dosed in Phase 1b/2a trial of AJ201 for SBMA; topline data expected H1 2024.
BAER-101 preclinical results show full seizure suppression at 0.3 mg/kg in GAERS model; Phase 2a planned for 2024.
FDA alignment on Phase 3 safety study design for IV tramadol; subject to financing, company aims to start soon.
R&D expense surged to $3.0M from $0.2M; G&A $0.9M vs $0.5M, reflecting clinical progress.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVENUE THERAPEUTICS, INC. reported second quarter ended June 30, 2023 results: net income Net loss attributable to common stockholders for the second quarter of 2023 was $4.0 million, or $0.52 per share, EPS $0.52 per share.

Period: second quarter ended June 30, 2023
Net income: Net loss attributable to common stockholders for the second quarter of 2023 was $4.0 million, or $0.52 per share
EPS: $0.52 per share
Result: reported results

Exact text from the filing

On August 10, 2023, 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 June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-023068

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