Trevena (NASDAQ: TRVN) is reiterated with a ‘Buy’ rating and $14 price target by Aegis Capital Corp. following the biopharmaceutical company’s report of financial results for the quarter ended March 31, 2017. Trevena reported cash, cash equivalents, and marketable securities at $97.9 million as of March 31, 2017. Trevena expects its cash on hand will fund operations into the third quarter of 2018. This includes funding enrollment in the phase 3 ATHENA study by mid-year adequate to support the submission of the NDA for OLINVO, submitting the NDA to the FDA in the fourth quarter of 2017, advancing TRV250 through a first-time-in-human study, and the continuous development of the company’s pipeline.
For more information, visit www.trevena.com
Trevena, Inc. is a biopharmaceutical company developing innovative therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. The company has discovered four novel and differentiated drug candidates, including OLINVO. Trevena also has discovered TRV250, in preclinical development for the treatment of migraine, and TRV734 for pain. The company maintains an early stage portfolio of drug discovery programs.
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