Trevena rises on approval of pain management therapy in China

Trevena

08/05/2023 12:30

** Shares of drugmaker Trevena Inc  TRVN.O  rise 22.38% to 77 cents premarket, among top
pct. gainers across U.S. exchanges
    ** Co says its partner in China, Jiangsu Nhwa, received formal approval from the National
Medical Products Administration for Olinvyk 
    ** The therapy has been approved 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
    ** TRVN is due to receive a $3 million milestone payment from Jiangsu Nhwa with the approval
and also eligible to receive $15 million upon first commercial sale in China
    ** Jiangsu Nhwa has an exclusive license agreement for the development and commercialization
of Olinvyk in China
   ** Up to last close, stock down ~56% YTD

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