NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) — Avenue Therapeutics, Inc. (Nasdaq: ATXI) (“Avenue” or the “Company”), a specialty pharmaceutical firm targeted on the event and commercialization of therapies for the therapy of central nervous system ailments, at this time introduced the pricing of its underwritten public providing of 3,636,365 frequent and pre-funded models. Each frequent unit consists of one share of frequent inventory and one warrant to buy one share of frequent inventory, and every pre-funded unit consists of one pre-funded warrant to buy one share of frequent inventory and one warrant to buy one share of frequent inventory. Each share of frequent inventory (or pre-funded warrant) is being offered along with one warrant at a mixed buy value of $3.30 per frequent unit (or $3.2999 per pre-funded unit after decreasing $0.0001 attributable to the train value of the pre-funded warrants).
In addition, Avenue granted the underwriter a 45-day choice to buy extra shares of frequent inventory, representing 15% of the quantity of shares of frequent inventory (or pre-funded warrants) offered within the base providing and extra warrants, representing as much as 15% of the warrants offered within the base providing, solely to cowl over-allotments, if any, which might improve the entire gross proceeds of the providing to roughly $13.8 million, if the over-allotment possibility is exercised in full.
The providing is predicted to shut on October 11, 2022, topic to the satisfaction of customary closing circumstances.
Avenue expects to make use of the web proceeds from the providing, along with its current money, to repurchase all of the shares of its frequent inventory held by InvaGen Pharmaceuticals Inc., with the rest for use for common company functions and dealing capital, together with the event of its drug product candidates.
Aegis Capital Corp. is appearing as sole book-running supervisor for the providing.
A registration assertion on Form S-1 (File No. 333-267206) referring to the providing of the securities was filed with the U.S. Securities and Exchange Commission (SEC) and declared efficient by the SEC on October 6, 2022. The providing is being made solely by means of a prospectus, copies of which can be obtained by contacting Aegis Capital Corp., 1345 Avenue of the Americas, twenty seventh Floor, New York, NY 10105, by phone at (212) 813-1010 or by e-mail at [email protected]. Copies of the registration assertion will be accessed by way of the SEC’s web site at www.sec.gov.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of these securities in any state or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Avenue Therapeutics
Avenue Therapeutics, Inc. (Nasdaq: ATXI) is a specialty pharmaceutical firm targeted on the event and commercialization of therapies for the therapy of central nervous system ailments. Avenue is headquartered in New York City.
Forward-Looking Statements
This press launch incorporates predictive or “forward-looking statements” throughout the which means of the Private Securities Litigation Reform Act of 1995. All statements aside from statements of present or historic reality contained on this press launch, together with statements that categorical our intentions, plans, goals, beliefs, expectations, methods, predictions or another statements referring to our future actions or different future occasions or circumstances are forward-looking statements. The phrases “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” “should,” “would” and related expressions are supposed to determine forward-looking statements. These statements are primarily based on present expectations, estimates and projections made by administration about our business, our business and different circumstances affecting our monetary situation, outcomes of operations or business prospects. These statements should not ensures of future efficiency and contain dangers, uncertainties and assumptions which are troublesome to foretell. Therefore, precise outcomes and outcomes might differ materially from what’s expressed or forecasted in, or implied by, the forward-looking statements resulting from quite a few dangers and uncertainties. Factors that might trigger such outcomes and outcomes to vary embrace, however should not restricted to, dangers and uncertainties arising from: expectations for will increase or decreases in bills; expectations for the medical and pre-clinical improvement, manufacturing, regulatory approval, and commercialization of our pharmaceutical product candidate or another merchandise we might purchase or in-license; our use of medical analysis facilities and different contractors; expectations for incurring capital expenditures to increase our analysis and improvement and manufacturing capabilities; expectations for producing income or changing into worthwhile on a sustained foundation; expectations or potential to enter into advertising and different partnership agreements; expectations or potential to enter into product acquisition and in-licensing transactions; expectations or potential to construct our personal business infrastructure to fabricate, market and promote our product candidate; acceptance of our merchandise by docs, sufferers or payors; our potential to compete towards different firms and analysis establishments; our potential to safe enough safety for our mental property; our potential to draw and retain key personnel; availability of reimbursement for our merchandise; estimates of the sufficiency of our current money and money equivalents and investments to finance our working necessities, together with expectations concerning the worth and liquidity of our investments; the volatility of our inventory value; anticipated losses expectations for future capital necessities; uncertainty surrounding the Baergic Bio acquisition; and people dangers mentioned in our filings which we make with the SEC. Any forward-looking statements converse solely as of the date on which they’re made, and we undertake no obligation to publicly replace or revise any forward-looking statements to replicate occasions or circumstances that will come up after the date of this press launch, besides as required by relevant legislation. Investors ought to consider any statements made by us in gentle of these vital components.
Contact:
Jaclyn Jaffe
Avenue Therapeutics, Inc.
(781) 652-4500
[email protected]
