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. Approximately 1,464,714 shares traded hands during mid-day 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 12.2%
The stock has a market cap of $426.37 million, a P/E ratio of -4.92 and a beta of 0.95. The business has a 50 day moving average price of $20.29 and a two-hundred day moving average price of $19.75.
Aerovate Therapeutics Company Profile
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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