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Trevena, Inc. Reports Fourth Quarter and Full Year 2020 Results
OLINVYK™ approved in U.S.; customer-facing teams now fully deployed
Primary study completion for TRV027 in COVID-19 patients expected in 1H 2021
IND for TRV045 (S1P1 receptor modulator) on track for 1H 2021; focus in epilepsy and neuropathic pain
Year-end cash of $109.4M funds operations through YE 2022
Company to host conference call today, March 9th, 2021, at 8:00 a.m. ET
CHESTERBROOK, PA., Mar. 9, 2021 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today reported its financial results for the fourth quarter and full year ended December 31, 2020, and provided an overview of its 2020 and 2021 year-to-date operational highlights.
“2020 was a year of unprecedented achievement for Trevena. We secured U.S. approval of OLINVYK, laid the groundwork for a successful field launch, and partnered with leading institutions to significantly advance our pipeline – all while navigating the challenges that COVID-19 posed to our industry and our communities,” said Carrie Bourdow, President and Chief Executive Officer of Trevena, Inc. “We enter 2021 with focus and resilience, as we look to deliver a successful first year of launch for OLINVYK and achieve multiple milestone events across our pipeline.”
2020 and 2021 YTD Corporate Highlights:
OLINVYK™ (oliceridine) injection Milestones
|·||Obtained FDA approval and DEA scheduling. In August 2020, the U.S. FDA approved OLINVYK in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. In October 2020 the U.S. DEA classified oliceridine as a Schedule II controlled substance.|
The Company is reiterating its commitment to the ethical promotion of OLINVYK. OLINVYK is a novel and differentiated alternative to existing IV analgesics. In those patients for whom an IV opioid is necessary to manage their acute pain, the Company’s goal is to replace conventional IV opioids, not to increase opioid usage.
The following information was filed by Trevena Inc (TRVN) on Tuesday, March 9, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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