Shares of Avenue Therapeutics (ATXI) rallied over 15% last week after the company announced that it submitted its New Drug Application (“NDA”) to the FDA this week, putting the company on track to hit the approval milestone ahead of the required deadline from acquirer, Cipla. With a buyout price of $13.92 per share, Avenue continues to provide an incredible opportunity to generate alpha in 2020, with a possible return of roughly 85% in less than a year, without accounting for possible upside from contingent value rights (“CVRs”). Let’s review the situation and why