Trevena, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 07:16 am EST
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Trevena, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 0.18 million compared to negative revenue of USD 0.438 million a year ago. Net loss was USD 7.93 million compared to USD 15.3 million a year ago. Basic loss per share from continuing operations was USD 0.57 compared to USD 2.24 a year ago. Diluted loss per share from continuing operations was USD 0.57 compared to USD 2.24 a year ago.
For the nine months, revenue was USD 3.21 million compared to negative revenue of USD 0.418 million a year ago. Net loss was USD 23.76 million compared to USD 46.67 million a year ago. Basic loss per share from continuing operations was USD 2.03 compared to USD 6.97 a year ago. Diluted loss per share from continuing operations was USD 2.03 compared to USD 6.97 a year ago.
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of medicines for patients with central nervous system (CNS) disorders. The Company has one approved product in the United States, OLINVYK (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Companyâs pipeline includes three differentiated investigational drug candidates: TRV045 for diabetic neuropathic pain and epilepsy, TRV250 for the acute treatment of migraine and TRV734 for maintenance treatment of opioid use disorder. TRV045 is a novel, highly selective sphingosine-1-phosphate subtype 1 (S1P1) receptor modulator being developed as a potential treatment for acute and chronic neuropathic pain secondary to diabetic peripheral neuropathy. TRV734 is a small molecule G-protein biased ligand of the mu opioid receptor (MOR).
TREVENA, INC. 
