Avenue Therapeutics (ATXI) Stock: Why The Price Surged

By Amit Chowdhry ● Nov 30, 2021
  • The stock price of Avenue Therapeutics Inc (NASDAQ: ATXI) increased by 53.15% in the most recent trading session. This is why it happened.

The stock price of Avenue Therapeutics Inc (NASDAQ: ATXI) – a company focused on the development of intravenous (IV) tramadol for the U.S. market – increased by 53.15% in the most recent trading session. Investors are responding positively to Avenue Therapeutics announcing that the FDA has informed the company that a joint meeting of the Anesthetic and Analgesic Drug Products Advisory Committee and the Drug Safety and Risk Management Advisory Committee is tentatively scheduled for February 15, 2022. The committees will be discussing the IV tramadol New Drug Application.

The FDA has also previously stated that input from an Advisory Committee is needed for the Office of New Drugs (OND) to reach a decision on Avenue’s formal dispute resolution request and that the OND will respond to Avenue’s appeal within 30 calendar days after the Advisory Committee meeting.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.