Shares of Avenue Therapeutics (ATXI) have fallen in tandem with broader market sentiment. However, since my last update, the FDA accepted Avenue’s NDA submission for IV tramadol, the drug that InvaGen’s proposed acquisition of Avenue for $13.92 per share is contingent upon, and additionally received a PDUFA (Prescription Drug User Fee Act) action date of October 10, 2020, meaning we are likely to have resolution of the acquisition within the next six months.
Although I suspect COVID-19 could negatively impact FDA review cycles, as the work force not only must work remotely