Trevena Reports Third Quarter 2024 Results and Provides Business Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2024
0mins
Source: Newsfilter
Financial Performance and Corporate Changes: Trevena, Inc. reported a net loss of $4.9 million for Q3 2024, down from $7.9 million in the same quarter last year, while also announcing significant corporate restructuring including the termination of three senior executives and several board member resignations as part of cost-cutting measures.
Stock Market Transition and Strategic Review: Following a delisting from Nasdaq due to equity compliance issues, Trevena's stock began trading on OTC Pink Sheets. The company is currently exploring strategic alternatives for its product pipeline, including potential sales or licensing of its assets.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
