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Wednesday, May 25, 2022

Trevena, Inc. (TRVN) stock surged in the Current market; here is why?

Trevena, Inc. (TRVN) stock gained in the current market after announcing receiving $40 million in funds from R-Bridge Healthcare Fund. TRVN’s share price is $0.55, gaining more than 23.96% compared to yesterday’s closing price. TRVN stock closed at $0.44 at the end of the last trading session. TRVN’s stock volume was around 694.79K shares in the previous trading session. The current market cap of the company is about $86.29 million.


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TRVN Announced Receiving Funding 

Trevena, Inc. (TRVN) announced royalty-based financing with the R-Bridge Healthcare Fund subsidiary. Trevena will get $15 million upfront and $15 million when they complete the first sale of OLINVYK in China under the R- Bridge Financing. If any milestone is met, the company will get an extra $10 million.

A 4 percent net sales interest in the Company’s US net sales of OLINVYK will repay the R-Bridge Financing. If China approves OLINVYK by year-end 2023, the US revenue interest ceiling will be $10 million. If the Chinese do not approve by then, the US revenue interest rises to 7% and continues until the combined US revenue interest, and Chinese royalties are compensated. In addition to the $3 million milestones, the Company maintains all other milestones under its Nhwa collaboration.

TRVN CEO’s Remarks

As Carrie Bourdow, president and chief executive officer of Trevena, said, this transaction boosts the business’s financial performance while also providing an innovative and efficient approach to generating immediate value from a valuable asset. Having established itself as the world’s premier global healthcare royalty fund, R-Bridge was ideally positioned to recognize the tremendous value produced by Trevena and our partner Jiangsu Nhwa, among others.

Conclusion

The company has received funding, which could increase the trust of other investors. The company has to meet NASDAQ compliance of having a value of $1.00 per share. It will prove a vital investment to meet the NASDAQ’s compliance.

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