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Avenue Therapeutics Inc. (ATXI+2.40%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Avenue's focus on developing therapies for neurologic diseases, including AJ201 for spinal and bulbar muscular atrophy, IV tramadol for post-operative acute pain, and BAER-101 for epilepsy and panic disorders.
Avenue reported a net loss of $11.7 million for the year, compared to a net loss of $10.5 million in the previous year. The increase in net loss was attributed to higher research and development expenses.
Research and development expenses totaled $6.6 million, reflecting increased clinical trial expenses and personnel costs. General and administrative expenses were $4.6 million, primarily due to increased payments to InvaGen and personnel costs.
Avenue highlighted a dispute with AnnJi Pharmaceutical Co., Ltd. regarding the AJ201 license agreement, which could impact their clinical efforts for AJ201.
The company does not currently have any products approved for commercial sale and continues to rely on financing activities to fund operations.
Avenue's common stock was delisted from Nasdaq and began trading on the OTC Pink Open Market on March 19, 2025, following a Nasdaq determination to delist due to stockholders’ equity requirements.
The company is exploring additional financing options to support its development programs and potential commercialization efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Avenue Therapeutics Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.