Trevena rises after $3 mln milestone payment on pain therapy's approval in China

Trevena

31/05/2023 13:18

** Shares of drugmaker Trevena Inc  TRVN.O  rise ~20% to
$1.39 premarket 
    ** Co receives $3 million milestone payment from its partner
in China on approval of Olinvyk injection in the country 
     ** Olinvyk has been approved in China for use in adults for
the management of acute pain severe enough to require an
intravenous opioid analgesic and for whom alternative treatments
are inadequate
    ** Co's partner Jiangsu Nhwa Pharmaceutical Co Ltd
 002262.SZ  holds an exclusive license agreement to develop,
manufacture, and commercialize Olinvyk in China
    ** Up to last close, stock down ~18% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))