Backtested results are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Backtested performance is not an indicator of future actual results. The company has priced these pre-funded units as “equal to the price per unit being sold to the public in this offering, minus $0.0001, and the exercise price of each pre-funded warrant included in the pre-funded units will be $0.0001 per share.”Īvenue had announced a 1-for-15 reverse stock split late last month.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. The pre-funded units would be up to 1.8 million units consisting of one pre-funded warrant to buy its common stock and one warrant to purchase its common stock. These pre-funded units would be “in lieu of units that would otherwise result in such purchaser’s beneficial ownership exceeding 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding shares of common stock.” In addition, the company stated that it was offering buyers owning more than approximately 5% of its outstanding shares following this public offering to purchase pre-funded units. Shares of Avenue Therapeutics ( NASDAQ: ATXI) plunged in morning trading on Wednesday after the specialty pharmaceutical company stated in an SEC filing that it was offering up to 1.8 million units consisting of one share of common stock and one warrant to purchase shares of common stock as a part of its public offering.
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