Avenue Therapeutics Shares Drop 28% After FDA Meeting Scheduled
November 29 2021 - 9:51AM
Dow Jones News
By Chris Wack
Avenue Therapeutics Inc. shares were up 28% to $1.42 Monday
after the U.S. Food and Drug Administration informed the company
that a joint meeting of the Anesthetic and Analgesic Drug Products
Advisory Committee and the Drug Safety and Risk Management Advisory
Committee is tentatively scheduled for Feb. 15, 2022.
The company said the committees will discuss the IV tramadol new
drug application.
The FDA previously said that input from an advisory committee is
needed for the Office of New Drugs to reach a decision on Avenue's
formal dispute resolution request and that the OND will respond to
Avenue's appeal within 30 calendar days after the advisory
committee meeting.
Volume for the stock was 2.4 million shares at 10:15 a.m. ET,
compared with a 65-day average volume of 103,000 shares. The stock
hit its 52-week low on Wednesday.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 29, 2021 10:36 ET (15:36 GMT)
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