Avenue Therapeutics, a specialty pharmaceutical company, has entered into a sales agreement with H.C. Wainwright & Co., LLC, dated May 10, 2024, to offer and sell up to $3,850,000 of its common stock. The common stock is listed on the Nasdaq Capital Market under the symbol 'ATXI.' As of May 8, 2024, the closing sale price of Avenue's common stock was $4.40 per share. The sales agreement allows for the sale of shares through an 'at the market offering,' as defined by Rule 415(a)(4) under the Securities Act of 1933. H.C. Wainwright will act as a sales agent and will use commercially reasonable efforts to sell the shares on behalf of Avenue Therapeutics. The Agent will receive a commission of up to 3% of the gross...Show More

Avenue Therapeutics, a specialty pharmaceutical company, has entered into a sales agreement with H.C. Wainwright & Co., LLC, dated May 10, 2024, to offer and sell up to $3,850,000 of its common stock. The common stock is listed on the Nasdaq Capital Market under the symbol 'ATXI.' As of May 8, 2024, the closing sale price of Avenue's common stock was $4.40 per share. The sales agreement allows for the sale of shares through an 'at the market offering,' as defined by Rule 415(a)(4) under the Securities Act of 1933. H.C. Wainwright will act as a sales agent and will use commercially reasonable efforts to sell the shares on behalf of Avenue Therapeutics. The Agent will receive a commission of up to 3% of the gross proceeds from any sales made under the agreement. The sales agreement also includes indemnification and contribution provisions for certain liabilities. As of May 10, 2024, the public float of Avenue's common stock was approximately $11,600,000. The company is eligible to offer and sell shares of common stock up to approximately $3,850,000 under General Instruction I.B.6 of Form S-3. The prospectus supplement for this offering was dated May 10, 2024.