TRVN Overview

Trevena's Analyst Rating: Trevena (TRVN) received a Hold rating from JMP Securities with a price target of $5.00, while the company's shares closed at $1.69. The analyst, Jason Butler, has an average return of -7.5% and a 37% success rate on his stock recommendations.

Financial Performance: In its latest earnings report for Q3, Trevena reported a revenue of $342 thousand and a GAAP net loss of $4.94 million, showing improvement compared to last year's revenue of $357 thousand and a net loss of $7.93 million.

Leadership Change at Trevena: Trevena, Inc. has appointed Katrine Sutton as the new principal financial and accounting officer, effective November 26, 2024, replacing Barry Shin. Sutton has been with the company since 2019 and previously worked at Synergy Pharmaceuticals.

Amicable Transition: The leadership change is described as amicable and not due to any internal disagreements within the company.

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.

U.S. Stock Market Performance: U.S. stocks declined with the Dow down 0.97%, Nasdaq falling over 150 points, and S&P 500 dropping 0.77%. Energy shares rose by 0.6%, while utilities fell by 1.7%.

International Market Updates: European shares mostly increased, with retail sales in the Eurozone rising 0.2% in August. Asian markets were mixed, with Japan's Nikkei gaining 1.80% and India's BSE Sensex dipping 0.78%.

U.S. Stock Market Performance: U.S. stocks declined, with the Dow Jones falling over 200 points and notable drops in the S&P 500 and NASDAQ; however, energy shares saw a slight increase.

International Market Updates: European shares mostly rose, while Asian markets were mixed; Eurozone retail sales increased slightly, and Japan's economic indicators showed declines.

Trevena Inc Delisting Notification: Trevena Inc's shares fell by 43.3% to $2.61 after the company announced it received a delisting notification from Nasdaq due to failing to meet minimum stockholder equity requirements.

Future Trading on OTC Market: Following the delisting effective October 8, Trevena's stock will trade on the Pink Open Market (OTC), but there is no assurance that brokers will continue to facilitate trading.