Avenue therapeutics announces pricing of $5.0 million public offering

Miami, oct. 31, 2023 (globe newswire) -- avenue therapeutics, inc. (nasdaq: atxi) (“avenue” or the “company”), a specialty pharmaceutical company focused on the development and commercialization of therapies for the treatment of neurologic diseases, today announced the pricing of its public offering of an aggregate of 16,633,400 units at a public offering price of $0.3006 per unit. each unit consists of (i) one share of common stock (or one pre-funded warrant in lieu thereof), (ii) one series a warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring five years from the date of issuance, and (iii) one series b warrant to purchase one share of common stock, immediately exercisable at a price of $0.3006 per share and expiring eighteen months from the date of issuance. the gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $5.0 million.
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