CHESTERBROOK, Pa. - Trevena, Inc. (NASDAQ:TRVN), a biopharmaceutical company, has revealed preclinical data indicating that its investigational drug TRV045 may offer sustained analgesic effects without desensitizing receptors, a common issue with current treatments.
The findings, stemming from collaborations with Virginia Commonwealth University and the NIH-supported Epilepsy Therapy Screening Program (ETSP), were presented at the American Society for Pharmacology and Experimental Therapeutics annual meeting in May 2024.
TRV045, a novel S1P1 receptor modulator, was tested in a mouse model of chemotherapy-induced peripheral neuropathy (CIPN) and showed sustained analgesic-like properties without the receptor desensitization observed with other S1P modulators like fingolimod. This suggests a potential for TRV045 as a long-term therapeutic for neuropathic pain.
In epilepsy models, TRV045 demonstrated a clear anticonvulsant effect across various animal models. While it didn't show a statistically significant effect in a preliminary model of epileptogenesis, the results provide a direction for additional studies in epilepsy prevention and treatment.
The studies also found that TRV045 did not cause lymphopenia or significant changes in blood pressure, heart rate, or respiratory function, indicating a favorable safety profile in preclinical models.
The data supports the potential of TRV045 as a differentiated treatment option for patients with CNS disorders, particularly those with neuropathic pain and epilepsy. Trevena's pipeline includes TRV045 for diabetic neuropathic pain and epilepsy, TRV250 for acute migraine treatment, and TRV734 for opioid use disorder maintenance treatment.
While these results are promising, TRV045 remains an investigational product and has not yet been approved by the FDA.
The information reported is based on a press release statement from Trevena, Inc.
In other recent news, biopharmaceutical company Trevena has experienced adjustments in stock price targets from two analyst firms. H.C. Wainwright reduced its price target from $9.00 to $5.00, while maintaining a Buy rating. The adjustment was attributed to uncertainties surrounding the early-stage asset TRV045, despite positive results from two studies, the PainCart Study and the TMS study.
Meanwhile, JMP Securities also adjusted its price target for Trevena, from $4.00 to $3.00, maintaining its Market Outperform rating. This change was made following Trevena's recent financial report and corporate updates, which included the decision to scale back commercial support for its product OLINVYK to conserve capital and reallocate resources towards the development of TRV045.
Trevena reported ending the fourth quarter of 2023 with approximately $33 million in cash and equivalents, which is anticipated to support operational costs well into 2025.
InvestingPro Insights
As Trevena, Inc. (NASDAQ:TRVN) continues its journey to develop innovative treatments for CNS disorders, the company's financial health and market performance provide critical context for investors. According to recent data from InvestingPro, Trevena's market capitalization stands at a modest $6.5 million. The company has experienced an exceptional revenue growth of 826.62% over the last twelve months as of Q1 2024, which is a notable achievement in the biopharmaceutical industry.
Despite these gains, Trevena is quickly burning through cash, a common challenge for biotech companies in the development stage. This is reflected in the company's significant operating income margin loss of -1116.5% for the same period, underscoring the high costs associated with research and development efforts. Additionally, the stock has taken a substantial hit over the last six months, with a price total return of -45.56%, suggesting investor caution amid the company's ongoing investments in its drug pipeline.
InvestingPro Tips indicate that analysts do not anticipate the company will be profitable this year and expect a sales decline in the current year. With these insights in mind, investors may want to consider the potential risks and rewards associated with Trevena's future prospects. For those looking to delve deeper into Trevena's financials and market performance, InvestingPro offers additional tips at https://www.investing.com/pro/TRVN. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 9 additional InvestingPro Tips available that can further inform investment decisions regarding Trevena, Inc.
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