Trevena’s OLINVYK Receives Chinese Approval

May 8, 2023

Update- 9 May 2023 9 a.m. EDT- This morning’s attempt by the shorters to hammer the price down in the premarket may end up having the opposite effect of what they intended. We’re not saying that this will happen, but keep an eye out for a potentially even more powerful short squeeze.

(24/7 MARKET NEWS) – Trevena, Inc. (NASDAQ:TRVN) reported, this morning, that its Chinese partner, Jiangsu Nhwa, received formal approval from the Chinese National Medical Products Administration for OLINVYK for use in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. This approval triggers a $3 million milestone payment to Trevena from Jiangsu Nhwa

Trevena is trading at $0.75, up 0.1051 (+16.30%), on 1.73M premarket shares traded.

Its 52-week range is $0.58 to $12.22. It’s trying to bounce off the 52-week low that it hit on May third.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.