Why Is Neurology Focused Trevena Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Trevena Inc (NASDAQ:TRVN) released preliminary topline data from two Phase 1 proof-of-concept studies of TRV045, demonstrating CNS penetration and target engagement. The studies showed a statistically significant, dose-dependent reduction in mechanical allodynia. No serious adverse events were reported. Full safety and tolerability data is expected in early 4Q 2023. Concurrently, Trevena received a $15 million tranche under its non-dilutive ex-US royalty-based financing, triggered by the first commercial sale of Olinvyk in China. TRVN shares are up 23.4% at $1.08 during the premarket session.
September 06, 2023 | 1:23 pm
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POSITIVE IMPACT
Trevena's preliminary data from Phase 1 studies of TRV045 shows promising results, and the company received a $15 million tranche from the sale of Olinvyk in China. This news has led to a 23.4% increase in TRVN shares.
The positive preliminary data from Trevena's Phase 1 studies of TRV045 and the receipt of a $15 million tranche from the sale of Olinvyk in China have likely contributed to the increase in TRVN shares. The absence of serious adverse events in the studies also adds to the positive sentiment around the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100