Avenue Therapeutics (NASDAQ:ATXI) Stock Price Down 23.7% – Here’s Why

Avenue Therapeutics, Inc. (NASDAQ:ATXI) shares fell 23.7% during trading on Thursday . The company traded as low as $0.28 and last traded at $0.29. 2,966 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 6,696 shares. The stock had previously closed at $0.38.

Avenue Therapeutics Stock Performance

The stock has a market capitalization of $988,500.00, a P/E ratio of 0.02 and a beta of -0.09. The stock has a 50-day simple moving average of $0.40 and a 200 day simple moving average of $0.47.

Avenue Therapeutics Company Profile

Avenue Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for disorders of the central nervous system, with an initial emphasis on acute pain management. The company’s research and development efforts are centered on reformulating established active pharmaceutical ingredients to address unmet needs in hospital and outpatient settings, aiming to improve safety profiles, reduce opioid exposure and support enhanced patient recovery.

The company’s lead product candidate is intravenous tramadol, a unique non-solicited opioid analgesic that combines dual mechanisms of action to manage moderate to severe acute pain.