Q4 revenue of the clinical-stage biopharmaceutical company stood at $232 million, surpassing analysts’ estimate.
TRVN shares have slipped 23% in the trailing 52 weeks. Meanwhile, it has gained 16% since the beginning of this year.
Trevena announced that it has identified a new candidate for its S1P receptor program, designated as TRV045, which holds promise as a new mechanism for non-opioid treatment of chronic pain and other central nervous system disorders.
CEO Carrie Bourdow said, “We have achieved meaningful milestones with our early-stage pipeline assets and, in 2019, expect to continue the development of these assets to build long-term stockholder value.”
On Tuesday, shares of Cara Therapeutics (CARA) surged about 10% during the extended trading hours, after reporting better-than-expected results in the fourth quarter. Viking Therapeutics (VKTX) is scheduled to report quarterly results after the closing bell today.