Avenue therapeutics prices $2.0 million underwritten public offering of common stock

New york, dec. 12, 2021 (globe newswire) -- avenue therapeutics, inc. (nasdaq: atxi) (“avenue”), a company focused on the development of intravenous (“iv”) tramadol for the u.s. market, today announced the pricing of an underwritten public offering with gross proceeds to the company expected to be approximately $2.0 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the company. the offering equates to 1,910,100 shares at a price to the public of $1.07 per share. the company intends to use the net proceeds from this offering for working capital and general corporate purposes.
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