Trevena Inc. (NASDAQ: TRVN) stock declined by 8.16% at the last close while the TRVN stock price rises by 4.44% in the after-hours trading session. Trevena is a biopharmaceutical firm specializing on the discovery and marketing of novel treatments for people suffering from CNS diseases.
Trevena has been included to the Russell 2000 Index for small companies, the Russell 3000 Index for large companies, and the Russell Microcap Index for tiny companies, effective after Monday, June 28th, 2021.
Investment managers and institutional investors utilize Russell indexes for index funds and as standards for active investment strategies. Russell’s US indices are used to benchmark over $9 trillion in assets.
Carrie Bourdow, President and CEO of Trevena stated,
Trevena’s placement in the Russell indices underscores the considerable value produced by the approval and launch of OLINVYK, as well as their pipeline’s wide progress. This will raise Trevena’s profile, even more, widen their shareholder base, and improve stock liquidity. They plan to build on this significant step in the future to provide long-term benefit to their shareholders.
Trevena reported that NIDA has restarted patient recruitment for TRV734, TRVN’s new mu-opioid receptor selective agonist, in its proof-of-concept trial. TRV734 is now being evaluated by Trevena in cooperation with NIDA as a possible maintenance treatment for opioid use disorder (OUD). Due of the widespread COVID-19 epidemic, the study was halted in March 2020.
TRV734 is the third experimental medicinal candidate in Trevena’s pipeline to be studied by the National Institutes of Health. About 50 opioid-dependent individuals on stable methadone maintenance treatment will be included in this randomized, double-blind, four-period, placebo- and positive-controlled trial. The primary endpoint, as evaluated by the Subjective Opioid Withdrawal Scale, is the suppression of withdrawal symptoms. The Clinical Opioid Withdrawal Scale will be used to see if TRV734 reduces withdrawal symptoms. Safety, tolerability, and neurocognitive alterations will all be assessed as secondary outcomes.