Organization, Plan of Business Operations |
6 Months Ended | |
|---|---|---|
Jun. 30, 2018 | ||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] |
Note 1 - Organization, Plan of Business Operations Avenue Therapeutics, Inc. (the “Company” or “Avenue”) was incorporated in Delaware on February 9, 2015, as a wholly owned subsidiary of Fortress Biotech, Inc. (“Fortress”), to develop and market pharmaceutical products for the acute care setting in the United States. The Company is focused on developing its product candidate, an intravenous (“IV”) formulation of tramadol HCI (“IV Tramadol”), for moderate to moderately severe post-operative pain.
Liquidity and Capital Resources The Company has incurred substantial operating losses since its inception and expects to continue to incur significant operating losses for the foreseeable future as it executes on its product development plan and may never become profitable. As of June 30, 2018, the Company had an accumulated deficit of $35.7 million. The Company’s current development plan anticipates that its cash and cash equivalents at June 30, 2018 will provide sufficient liquidity through August 14, 2019. This development plan includes delaying certain previously planned activities in order to preserve cash. The Company will need to raise additional funding through strategic relationships, public or private equity or debt financings, grants or other arrangements. If such funding is not available or not available on terms acceptable to the Company, it may require additional curtailment of the Company’s planned activities and impact the Company’s ability to continue as a going concern. |