Avenue therapeutics announces closing of $5.0 million public offering

Miami, nov. 02, 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 closing of its previously announced public offering of an aggregate of 16,633,400 units (or pre-funded units in lieu thereof) at a public offering price of $0.3006 per unit (inclusive of the pre-funded warrant exercise price of $0.0001 per share). each unit consisted 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 approximately $5.0 million.
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