Avenue Therapeutics Shares Jump 30% on FDA Meeting Minutes

By Denny Jacob

Avenue Therapeutics Inc. shares jumped 30% to $1.49 in aftermarket trading Monday after receiving minutes from a meeting with the Food and Drug Administration, which it said indicated that the two sides are in agreement with a majority of proposals and are in active discussions about remaining open items.

The specialty pharmaceutical company in March participated in a Type C meeting with the Food and Drug Administration on Thursday regarding a study assessing risks related to opioid stacking.

"We are finalizing the protocol based on the FDA's feedback and look forward to the continued collaborative discussions with the FDA with the goal of partnering or initiating a Phase 3 safety study this year," said Chief Executive Alexandra MacLean.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

04-17-23 1636ET