What's Going On With Neurological Disease Focused Trevena On Thursday?
Portfolio Pulse from Vandana Singh
Trevena Inc (NASDAQ:TRVN) shares are down 33.7% following the release of preclinical data from two research collaborations. The studies focused on TRV045, a novel S1P1 receptor modulator, and its effects on chemotherapy-induced peripheral neuropathy and seizure protection. Despite some positive findings, the data did not show statistically significant anti-epileptogenic effects, leading to a sharp decline in the stock price.
June 20, 2024 | 4:50 pm
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Trevena Inc (NASDAQ:TRVN) shares fell 33.7% after releasing preclinical data on TRV045. The data showed mixed results, with some positive findings but no statistically significant anti-epileptogenic effects, leading to a sharp decline in the stock price.
The sharp decline in TRVN's stock price is directly related to the mixed results from the preclinical data on TRV045. While there were some positive findings, the lack of statistically significant anti-epileptogenic effects likely disappointed investors, leading to a sell-off.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Novartis AG's (NYSE:NVS) Gilenya was compared to Trevena's TRV045 in the study. Gilenya showed significant S1P1R functional desensitization and protein reduction, unlike TRV045. This comparison highlights the differences in the effects of the two drugs.
While Novartis' Gilenya was mentioned in the study, the primary focus was on Trevena's TRV045. The comparison highlights differences but does not significantly impact Novartis' stock in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30