Aerovate Therapeutics, Inc. (NASDAQ:AVTE – Get Free Report)’s share price traded down 12.2% during trading on Thursday. The stock traded as low as $14.58 and last traded at $14.71. 1,464,714 shares traded hands during trading, an increase of 2,633% from the average daily volume of 53,591 shares. The stock had previously closed at $16.76.
Aerovate Therapeutics Stock Down 2.1%
The company has a fifty day moving average of $20.17 and a two-hundred day moving average of $19.71. The stock has a market capitalization of $417.96 million, a price-to-earnings ratio of -4.82 and a beta of 0.95.
About Aerovate Therapeutics
Aerovate Therapeutics, Inc was a clinical-stage biotechnology company focused on developing therapies for serious pulmonary vascular diseases. The company’s primary product candidate was AV-101, an inhaled dry-powder formulation of imatinib designed to deliver treatment directly to the lungs while limiting systemic exposure.
AV-101 was developed for pulmonary arterial hypertension, a progressive disorder involving elevated blood pressure in the arteries of the lungs. Aerovate evaluated the candidate in the Phase 2b IMPAHCT clinical trial, but reported that the study did not meet its primary endpoint in 2024.
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