GlobeNewswire Inc | Apr 23, 2021 11:37PM EDT

April 24, 2021

NEW YORK, April 23, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Avenue Therapeutics Inc. (Avenue or the Company) (NASDAQ:ATXI). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Avenue and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On April 13, 2021, Avenue issued a press release announc[ing] that the U.S. Food and Drug Administration (FDA) was still reviewing its New Drug Application (NDA) for IV tramadol and had not provided a decision regarding the NDA. The Companys resubmitted NDA for the treatment, which followed a complete response letter from the FDA in 2020, had been assigned an action date of April 12, 2021.

On this news, Avenues stock price fell $1.69 per share, or 23.77%, on April 13, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com