Trevena Q3 2023 Earnings Report
Key Takeaways
Trevena reported its financial results for the third quarter ended September 30, 2023. The company reported promising proof-of-concept data for its two TRV045 studies, including favorable safety and tolerability topline data, and strengthened its balance sheet with the receipt of the $15 million R-Bridge tranche.
Reported statistically significant topline TRV045 data from two proof-of-concept studies.
Reported favorable safety and tolerability data from TRV045 POC studies.
Three abstracts for OLINVYK presented at American Society of Anesthesiologists (ASA) Conference.
Received $15 million tranche from ex-US royalty-based financing agreement in September.
Trevena
Trevena
Forward Guidance
Cash and cash equivalents were $35.0 million as of September 30, 2023, which the Company believes will be sufficient to fund the Company’s operating expenses and capital expenditure requirements into the third quarter of 2024.