Summary by Moomoo AI
Avenue Therapeutics reported a net loss of $2.7 million for Q2 2024, compared to $4.0 million in Q2 2023, with cash and cash equivalents of $4.9 million as of June 30, 2024. Research and development expenses decreased 55% to $1.4 million, while general and administrative expenses increased 63% to $1.5 million. The company completed several warrant inducement transactions that generated net proceeds of approximately $8.2 million during the first half of 2024.The company continues to advance its key pipeline candidates, including AJ201 for spinal and bulbar muscular atrophy, with top-line Phase 1b/2a data expected in H2 2024. Avenue has also reached final agreement with the FDA on the Phase 3 safety study protocol for IV tramadol and plans to initiate the study pending financing. Additionally, the company established an ATM facility in May 2024 that allows for sales of...Show More
