In after-hours trading, shares of Trevena Inc. (TRVN) were down -12.76% on Friday. The stock closed the previous trading session up 2.62% or $0.05 at $1.96. The stock fluctuated between $1.93 and $2.00 throughout the day. A total of 22.49 million shares were exchanged, more than TRVN’s 50-day volume of 3.41 million as well as its year-to-date volume of 3.46 million.
The TRVN stock has lost 13.95 percent in the past 12 months, and in the last week the stock has gained 2.62%. A total of -20.33 % has been lost by TRVN stock over the last six months, and 7.10 % has been gained over the last three months. The TRVN stock price is down by 8.41% this year. In response to the reinstatement of patient recruitment for one of its studies, TRVN stock rose.
In what study did TRVN take part?
Trevena specializes in developing and commercializing treatments for patients with disorders of the central nervous system. A TRVN product, OLINVYK (oliceridine) injection, is approved in the United States for the treatment of adults who have acute pain severe enough to require intravenous opioid analgesic therapy and for whom alternative treatments are ineffective.
TRRVN’s novel pipeline includes four investigational drug candidates that are the result of Nobel Prize-winning research. TRV027 is used to treat acute respiratory distress syndrome, abnormal blood clotting, and COVID-19-related symptoms; TRV734 treats opioid use disorder; TRV250 treats migraines and TRV045 treats epilepsy.
Trevena announced recently that NIDA has reopened enrollment for its TRV734 prospective patient study, which tests the new mu opioid receptor selective agonist.
- As part of TRVN’s ongoing collaboration with NIDA, TRV734 is being evaluated as potential maintenance therapy for opioid use disorder (OUD).
- As a result of the global COVID-19 pandemic in March 2020, TRVN has paused its study.
- In spite of COVID-19, opioid use disorder (OUD) is still a public health emergency.
- TRVN believes it is important to continue developing effective treatments for patients suffering from opioid addiction.
- By resuming their TRV734 study, NIDA emphasizes the unmet need for treatments for OUD, as TRV734 may be an effective treatment option with improved tolerability.
- NIH and TRVN will join forces to explore a number of its pipeline assets as part of this collaboration.
- This study aims to enroll approximately 50 opioid-dependent people undergoing stable methadone maintenance therapy in a double-blind, placebo- and positive-controlled study.
- Using the Clinical Opioid Withdrawal Scale, this study will also evaluate whether TRVN’s TRV734 suppresses withdrawal symptoms.
How the TRVN candidate will be evaluated?
TRV734 will be the third Trevena (TRVN) investigational drug product being studied by NIDA. According to the Subjective Opioid Withdrawal Scale, the primary outcome is a reduction in withdrawal symptoms through TRVN drug. Additionally, secondary outcomes will include an assessment of safety, tolerability, and measure of changes in neurocognitive function of TRVN candidate.