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.
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(END) Dow Jones Newswires