Avenue Therapeutics Announces Closing of Public Offering of Common Stock
16 December 2021 - 4:00AM
Avenue Therapeutics, Inc. (or the “Company”) (NASDAQ: ATXI), a
company focused on the development of intravenous (“IV”) tramadol
for the U.S. market, today announced the closing of its public
offering of 1,910,100 shares of common stock at a public offering
price of $1.07. The gross proceeds of the offering were
approximately $2.0 million before deducting underwriting discounts,
commissions and offering expenses. In addition, the Company has
granted Aegis Capital Corp. a 45-day option to purchase up to an
additional 286,430 shares of common stock to cover over-allotments,
if any, at the public offering price, less the underwriting
discount.
The common stock is trading on The Nasdaq
Capital Market under the symbol “ATXI”.
Aegis Capital Corp. acted as the sole
book-running manager for the offering.
A registration statement on Form S-3 relating to
common stock being sold in this offering was declared effective by
the Securities and Exchange Commission (the “SEC”) on December 10,
2021. The offering was made only by means of a prospectus. Copies
of the final prospectus may be obtained on the SEC’s
website, www.sec.gov, or by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 810 7th Avenue,
18th Floor, New York, NY 10019, by email
at syndicate@aegiscap.com, or by telephone at (212)
813-1010.
This press release shall not constitute an offer
to sell, or a solicitation of an offer to buy these securities, nor
shall there be any sale of, these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Avenue Therapeutics
Avenue Therapeutics is a specialty
pharmaceutical company whose mission is to develop IV tramadol, a
potential alternative that could reduce the use of conventional
opioids, for patients suffering from acute pain in the U.S. Avenue
is headquartered in New York City. For more information, visit
www.avenuetx.com.
Forward-Looking Statement
Disclaimer
This press release may contain “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. Such statements include, but are not limited to,
any statements relating to our growth strategy and product
development programs and any other statements that are not
historical facts. Forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results, financial condition and stock value. Factors that could
cause actual results to differ materially from those currently
anticipated include: risks related to us obtaining regulatory
approval from the FDA for our product candidate, risks relating to
the COVID-19 outbreak and its potential impact on our employees’
and consultants’ ability to complete work in a timely manner, risks
relating to our growth strategy; risks relating to the results of
research and development activities; risks relating to the timing
of starting and completing clinical trials; our ability to obtain,
perform under and maintain financing and strategic agreements and
relationships; uncertainties relating to preclinical and clinical
testing; our dependence on third-party suppliers; our ability to
attract, integrate and retain key personnel; the early stage of
products under development; our need for substantial additional
funds; government regulation; patent and intellectual property
matters; competition; as well as other risks described in our SEC
filings. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by law,
and we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
Contacts:Jaclyn Jaffe and Bill BegienAvenue
Therapeutics, Inc. (781) 652-4500ir@avenuetx.com
Avenue Therapeutics (NASDAQ:ATXI)
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