I think Jiangsu better buys the company for $5 - $6, It will be cheaper.
TREVENA (TRVN) : 0.6449+0.0149 (+2.37%)
Pre-Market: 0.998 +0.3531 (+54.7527%)
The number of shares of the registrant’s Common Stock outstanding as of April 27, 2023 was 8,975,072
We finished the year with $38.3 million in cash and marketable securities.
= $4.27 / share
Trevena’s partner, Jiangsu Nhwa, receives approval from Chinese National Medical Products Administration (NMPA)
Approval achieves $3 million milestone to Trevena from Jiangsu Nhwa
Additional $15 million to Trevena expected on first commercial sale in China, based on ex-US Royalty-Based Financing with R-Bridge Healthcare Fund, an affiliate of CBC Group
CHESTERBROOK, Pa., May 08, 2023 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced that its partner in China, Jiangsu Nhwa, received formal approval from the National Medical Products Administration for OLINVYK. It 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.
“We are very pleased to see our partners, Jiangsu Nhwa, achieve this important milestone which will allow Chinese patients to benefit from OLINVYK,” said Carrie Bourdow, President and CEO of Trevena. “We have worked closely with our partners during their submission process, and look to our continued collaboration as they move forward with launch and full commercialization of OLINVYK in China.”
The Chinese regulatory agency (NMPA) accepted the NDA in January 2022. The approval is based on results of two bridging trials conducted in China and also leveraged US clinical data. Results from the bridging studies demonstrated that the safety, tolerability and pharmacokinetic profile of OLINVYK in Chinese patients is consistent with what has been seen in other OLINVYK clinical trials. Jiangsu Nhwa has an exclusive license agreement for the development and commercialization of OLINVYK in China.
Trevena is due to receive a $3 million milestone payment from Jiangsu Nhwa with the approval. The Company is also eligible to receive $15 million upon first commercial sale of OLINVYK in China, in connection with its non-dilutive royalty-based financing with an affiliate of R-Bridge Healthcare Fund (the R-Bridge Financing). As part of the R-Bridge Financing, Trevena previously received a $15 million upfront payment and may receive an additional $10 million upon achievement of either a commercial or financing milestone.
