Avenue Therapeutics announces $12 Million Public Offering, as if on Cue

October 7, 2022

(24/7 MARKET NEWS) – I mentioned that Avenue Therapeutics’s (NASDAQ:ATXI) share price was breaking down, yesterday, to another contributor and he replied that a public offering was around the corner.

Avenue Therapeutics announced, this morning, the pricing of an underwritten public offering of 3,636,365 common and pre-funded units, with each common unit consisting of one share of common stock and one warrant to purchase one share of common stock, with a combined purchase price of $3.30 per common unit

Although it traded as high as $8.42, it closed yesterday at $6.29, down $2.18 (-25.74%), on volume of 8.426.140 shares.

This is why we hate holding swings overnight. PEGY and FNGR could be next.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.