On March 28, 2022, Lucy Lu, M.D. notified Avenue Therapeutics, Inc. that she was resigning from her role as the Company's CEO, and from her position as a member of the Company's Board of Directors, effective in each case as of March 31, 2022, in order to pursue an opportunity outside of the Company. Dr. Lu did not resign from these positions as a result of any disagreement with the Company on any matter relating to the Company's operations, financial reporting or controls. The Company has entered into a consulting arrangement with Dr. Lu effective March 31, 2022.

David Jin, who was previously serving as the Company's Chief Operating Officer, will begin acting as the Company's interim principal executive officer as of March 31, 2022.