Avenue Therapeutics Inc. shares were up 160% to $9.16 on volume of more than 41.2 million shares, compared with a 65-day average of 239,812.
The stock was briefly paused several times due to volatility and was recently in first place on the Stocktwits "Watchers" list.
Avenue focuses on central nervous system diseases. Last week, the company implemented a 1-for-15 reverse split and said it received official meeting minutes from the Food and Drug Administration for IV Tramadol. The FDA said the company's proposed study design for a safety trial appears reasonable, Avenue said.
The stock more than doubled to $6.60 Thursday and declined in the next two sessions.
https://www.morningstar.com/news/dow-jones/202209276227/avenue-therapeutics-shareas-surge-160
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