Avenue Therapeutics shares are trading lower after the company announced the exercise of warrants for $4.4 million in gross proceeds.
Portfolio Pulse from Benzinga Newsdesk
Avenue Therapeutics' stock price has declined following the announcement of the exercise of warrants, resulting in $4.4 million in gross proceeds.

April 29, 2024 | 1:04 pm
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NEGATIVE IMPACT
Avenue Therapeutics' shares dropped after the company disclosed the exercise of warrants, which generated $4.4 million in gross proceeds.
The exercise of warrants typically dilutes existing shareholders' equity, which can lead to a decrease in stock price. The announcement of $4.4 million in gross proceeds from such an exercise suggests a dilution effect, hence the negative short-term impact on ATXI's stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100