The shares of Trevena Inc. (TRVN) were up 6.44% in premarket trading at $2.15. TRVN stock closed at $2.02 yesterday, down -8.18% or $0.18. TRVN stock fluctuated between $2.01 and $2.18 on the day.
TRVN stock traded at 2.63 million shares, less than the company’s average daily volume of 3.22 million during its 50-day period. On the resumption of patient recruitment by the NIH, TRVN stock jumped.
Why were patients recruited?
Trevena focuses on the development and commercialization of innovative drugs for patients with diseases related to the central nervous system (CNS). OLINVYK (oliceridine) injection is TRVN’s only U.S.-approved product. As an opioid analgesic, OLINVYK has been indicated in the treatment of acute pain in adults who are unable to be managed using alternative treatments.
As announced by Trevena today, NIDA is once again recruiting patients for TRV734, the Company’s novel mu-opioid receptor selective agonist.
- TRVN has been collaborating with NIDA to evaluate TRV734 as a potential treatment for opioid use disorder (OUD).
- The TRVN study was halted in March 2020 due to the global COVID-19 pandemic.
- Despite COVID-19, opioid use disorder is an urgent public health issue that must be addressed.
- In order to meet the needs of opioid addicted individuals, it is important to continue to develop effective treatments.
TRN plans to go further:
NIDA’s willingness to re-open the TRV734 study, which may present a treatment option that is effective and more tolerable than the current recommendations, demonstrates the unmet need for OUD medicines. Trevena (TRVN) will leverage this collaboration to explore several pipeline assets in the NIH.
