Avenue Therapeutics (ATXI) expects to raise $50 million in an initial public offering (IPO) on the week of June 5th. The company will issue 5,000,000 shares at a price of $9.00-$11.00 per share.
Avenue Therapeutics has a market-cap of $100.1 million.
Raymond James acted as the underwriter for the IPO and National Securities Corp. was co-manager.
Avenue Therapeutics provided the following description of their company for its IPO: ” We are a specialty pharmaceutical company focused on the development and commercialization of an intravenous, or IV, formulation of tramadol HCl, or IV Tramadol, for the management of moderate to moderately severe postoperative pain. Tramadol is a synthetic dual-acting opioid with a well-established efficacy and safety profile, and has been used throughout the world for more than 30 years, accumulating an abundance of available clinical data. “.
Avenue Therapeutics was founded in 2015 and has 3 employees. The company is located at 2 Gansevoort Street, 9th Floor,New York, NY 10014, US and can be reached via phone at (781) 652-4500 or on the web at http://www.avenuetx.com.