Shares of Avenue Therapeutics, Inc. (NASDAQ:ATXI – Get Free Report) shot up 9.3% during mid-day trading on Thursday . The stock traded as high as $0.70 and last traded at $0.6815. 1,486 shares traded hands during trading, a decline of 20% from the average session volume of 1,855 shares. The stock had previously closed at $0.6236.
Avenue Therapeutics Price Performance
The stock has a market cap of $2.17 million, a price-to-earnings ratio of 0.04 and a beta of -0.51. The business’s fifty day simple moving average is $0.72 and its 200 day simple moving average is $0.65.
About Avenue Therapeutics
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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