Avenue Therapeutics Q1 net loss $4.3M; $9.4M raised; pipeline progress on AJ201, BAER-101, IV tramadol

AVENUE THERAPEUTICS, INC.

Net loss $4.3M ($15.40/share) vs $7.5M ($101.57) in Q1 2023; R&D $2.4M, G&A $1.3M.
Cash $3.2M at Mar 31, up from $1.8M; additional $4.4M gross proceeds from May 2024 warrant exercise.
AJ201 topline data for Kennedy's Disease expected mid-2024; received FDA agreement on IV tramadol Phase 3 protocol.
Total $9.4M raised from warrant exercises in Jan and May 2024; 1-for-75 reverse split in April to regain Nasdaq compliance.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AVENUE THERAPEUTICS, INC. reported the first quarter ended March 31, 2024 results: net income $4.3 million, or $15.40 per share, EPS $15.40 per share.

Period: the first quarter ended March 31, 2024
Net income: $4.3 million, or $15.40 per share
EPS: $15.40 per share
Result: reported results

Exact text from the filing

Net loss attributable to common stockholders for the first quarter of 2024 was $4.3 million, or $15.40 per share, compared to a net loss of $7.5 million, or $101.57 per share, for the first quarter of 2023.

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AVENUE THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-016818

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