Trevena, Inc. (NASDAQ: TRVN)
TRVN surged today on good news after the company announced positive results from its Phase 2b study of TRV130 in Acute Postoperative Pain. The company announced positive data from its randomized, double-blind, placebo- and active-controlled Phase 2b trial of TRV130 in moderate to severe acute postoperative pain after abdominoplasty surgery. The study achieved its primary endpoint of statistically greater pain reduction than placebo over 24 hours. In addition, TRV130 was superior to morphine in pre-specified secondary measures, exhibiting significantly reduced nausea, vomiting, and hypoventilation events Trevena.
TRVN CSO Comments
“The data from this trial showed that TRV130, when given on-demand, matched morphine efficacy for pain relief with a markedly improved safety and tolerability profile,” said Neil Singla, M.D., chief scientific officer of Lotus Clinical Research and lead investigator of the study. “The challenges of safely and adequately titrating morphine are well recognized, and these data suggest that, if approved, TRV130 may provide a better option than currently available opioid analgesics.” YahooFinance
TRVN gapped up in price today 51.5% to $9.09, a $3.09 increase. Looking at the chart, we see that it has not traded this high since March 5, 2014 when it closed at $9.07. Volume today was very high, as TRVN closed over 32 times its normal volume, a 54.33% change from Monday’s close. TRVN also crossed over its 50 day moving average. At one point the stock traded up as high as $10.64, representing a new 52 week high.
Trevena Inc. Recent Financials
On 08/11/2015 Trevena released 2nd quarter financial results:
Net loss attributable to common stockholders for the quarter ended June 30, 2015 was $11.5 million, or $0.28 per share, compared to $11.5 million, or $0.44 per share for the quarter ended June 30, 2014. Research and development expenses were $10.3 million in the second quarter of 2015 compared to $9.0 million for the same period in 2014.
Trevena, Inc., a clinical stage biopharmaceutical company, discovers, develops, and intends to commercialize therapeutics for G protein coupled receptors. The company’s central nervous system product pipeline includes TRV130, a small molecule G protein biased ligand at the mu-opioid receptor, which is in Phase II clinical trials for patients experiencing moderate to severe acute pain where IV administration is preferred; and TRV734, a small molecule G protein biased ligand at the mu-opioid receptor that is in Phase I clinical trials for the treatment of moderate to severe acute and chronic pain. Its central nervous system product pipeline also comprises TRV250, a small molecule G protein biased ligand of the delta-opioid receptor, which is in preclinical development stage for the treatment-refractory migraine headaches. In addition, the company develops cardiovascular programs, such a TRV027, a peptide beta-arrestin biased ligand that targets the angiotensin II type 1 receptor and is in Phase II clinical trials for the treatment of acute heart failure in combination with standard diuretic therapy. Trevena, Inc. was founded in 2007 and is headquartered in King of Prussia, Pennsylvania Bloomberg