On November 14, 2024, Avenue Therapeutics, Inc., a specialty pharmaceutical company, announced its financial results for the third quarter ending September 30, 2024. The company reported a net loss of $3.1 million, or $1.92 per share, a significant shift from the net income of $0.5 million, or $4.86 per share, in the same quarter of the previous year. Research and development expenses increased to $2.3 million from $0.9 million year-over-year, while general and administrative expenses decreased to $0.8 million from $1.2 million. The company's cash and cash equivalents stood at $2.6 million as of September 30, 2024, down from $4.9 million at the end of the previous quarter. Avenue Therapeutics highlighted the completion of patient visits in the Phase 1b/2a clinical trial of AJ201 for spinal and bulbar muscular atrophy (SBMA) in May 2024, with topline...Show More

On November 14, 2024, Avenue Therapeutics, Inc., a specialty pharmaceutical company, announced its financial results for the third quarter ending September 30, 2024. The company reported a net loss of $3.1 million, or $1.92 per share, a significant shift from the net income of $0.5 million, or $4.86 per share, in the same quarter of the previous year. Research and development expenses increased to $2.3 million from $0.9 million year-over-year, while general and administrative expenses decreased to $0.8 million from $1.2 million. The company's cash and cash equivalents stood at $2.6 million as of September 30, 2024, down from $4.9 million at the end of the previous quarter. Avenue Therapeutics highlighted the completion of patient visits in the Phase 1b/2a clinical trial of AJ201 for spinal and bulbar muscular atrophy (SBMA) in May 2024, with topline data expected by year-end. Plans for a Phase 2a clinical trial of BAER-101 for epilepsy and other seizure disorders are contingent on additional financing. The company has also finalized an agreement with the FDA for a Phase 3 safety study of IV tramadol for post-operative pain, with the study's initiation pending further funding or partnership. Avenue Therapeutics is focused on developing treatments for neurologic diseases and is headquartered in Miami, FL.