Trevena (TRVN): Commercial Countdown Begins - HCWainwright
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H.C. Wainwright analyst, Ed Arce, reiterated his Buy rating on shares of Trevena (NASDAQ: TRVN) and raised his price target to $7 from $5 looking ahead 8 months to the PDUFA date of November 2, 2018. In January 2018, Trevena announced that the FDA accepted its NDA for OLINVO (IV oliceridine), the first G protein biased ligand of the mu receptor designed to provide IV opioid pain relief.
The analyst stated "given that DEA scheduling of controlled substances (management fully expects Schedule II for OLINVO) is normally due within 90 days of approval, management has guided to a 1Q19 commercial launch in the U.S. As we continue the countdown to critical near-term value inflection points for TRVN shares, we affirm our Buy rating and raise our PT".
Shares of Trevena closed at $1.88 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesPDUFA, H.C. Wainwright, Ed Arce, FDA
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