Trevena, Inc. (NASDAQ: TRVN) is a clinical stage biopharmaceutical company focused on developing and delivering biased ligands to discover the next generation of GPCR targeted medicine. The company is focused on three product candidates:
- Oliceridine, for moderate to severe acute pain;
- TRV734, an oral use medicine for people in moderate, severe acute, and chronic pain;
- and TRV250, for those suffering from migraines.
On November 7, 2016, Aegis Capital Corp. (http://nnw.fm/6qwiQ) initiated coverage on Trevena, Inc., offering the company a ‘Buy’ rating with a target price of $14. This rating was released soon after the company reported its third quarter 2016 financial results alongside a corporate update. In the press release, CEO Maxine Gowen reported important progress for the quarter ending September 30, 2016.
According to Trevena’s third quarter report, top-line data from its APOLLO-1 and APOLLO-2 phase III efficacy trials of Oliceridine is on track for release in the first quarter of 2017, and the patient enrollment remains on track in the ETHENA multi-procedure safety study of Oliceridine to support an NDA filing in 2H 2017. Trevena, Inc. also announced that its TRV250 program is on track for IND submission this year.
The company has reported continued engagement at pain medicine conferences, and has hosted an investor webcast featuring presentations on acute pain management by leading clinicians.
Out of the seven analysts who have covered Trevena this year, six rated the company at ‘Buy’ and one at ‘Hold’. In the first weeks of November, Trevena has reported a stock price increase of roughly 50 percent to $5.75 per share as of November 11, an increase of $1.94 per share from its November 3 PPS.
For more information, visit the company’s website at www.trevena.com
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