- Thinly traded nano cap Avenue Therapeutics (ATXI +12.1%) is up on average volume in response to its announcement that the first patient has been dosed in a Phase 3 clinical trial assessing IV tramadol for the management of moderate-to-moderately severe pain following bunionectomy surgery. Topline data should be available in Q2 2018.
- If approved, IV tramadol would be the only Schedule IV intravenous opioid available in the U.S. The company says the product will potentially fill the pain treatment gap between IV acetaminophen and NSAIDS and conventional narcotics.
- Schedule IV drugs, including Xanax (alprazolam), Valium (diazepam) and Halcion (triazolam), are considered to pose lower abuse potential than Schedule III drugs which include opioids such as Dilaudid (hydromorphone), OxyContin (oxycodone) and fentanyl.
- Now read: Your Daily Pharma Scoop: Alexion's Catalysts, Amgen (NASDAQ:AMGN)'s Prolia, Ultragenyx Borosumab
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