Avenue Therapeutics (NASDAQ:ATXI) Shares Down 4.4% – Here’s What Happened

Shares of Avenue Therapeutics, Inc. (NASDAQ:ATXIGet Free Report) were down 4.4% during trading on Monday . The company traded as low as $0.2294 and last traded at $0.2294. Approximately 3,320 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 7,466 shares. The stock had previously closed at $0.24.

Avenue Therapeutics Price Performance

The stock’s 50-day moving average price is $0.33 and its 200 day moving average price is $0.60. The firm has a market capitalization of $755,873.00, a PE ratio of 0.01 and a beta of -0.50.

Avenue Therapeutics Company Profile

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Avenue Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for disorders of the central nervous system, with an initial emphasis on acute pain management. The company’s research and development efforts are centered on reformulating established active pharmaceutical ingredients to address unmet needs in hospital and outpatient settings, aiming to improve safety profiles, reduce opioid exposure and support enhanced patient recovery.

The company’s lead product candidate is intravenous tramadol, a unique non-solicited opioid analgesic that combines dual mechanisms of action to manage moderate to severe acute pain.

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