Trevena Inc (TRVN) Wednesday reported fourth-quarter losses that were wider than analysts’ estimates, sending its shares down 5.4% during pre-market trading. Helped by substantially lower research and development expenses during the quarter, net loss narrowed to 10 cents per share from 24 cents per share a year ago.
However, this wasn’t good enough for the street, which was expecting a loss of only 6 cents per share.
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.
On the heels of lawmakers moving closer to passing the stimulus bill, inflations concerns gripped the market after Federal Reserve chief Jerome Powell at a meeting said the reopening would
Though the retail boom triggered by the pandemic was estimated to be short-lived initially, the shopping spree continued as customers stocked up on essential items, concerned about the persistent market
Shares of Gap Inc. (NYSE: GPS) were up 5.8% in afternoon hours on Friday. The stock has gained 103% over the past 12 months. Gap reported mixed results for the