Trevena Regains Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Trevena, Inc. (Nasdaq: TRVN) has announced that it has regained compliance with Nasdaq's minimum bid price requirement. This notice was received on November 28, 2022, confirming that the company maintained a closing bid price of $1.00 or more for at least 10 consecutive trading days. As a result, Trevena’s common stock will continue to be listed on the Nasdaq Capital Market. Trevena develops innovative medicines for central nervous system disorders and has one approved product in the U.S., OLINVYK (oliceridine) injection.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Maintained a closing bid price of $1.00 or more for 10 consecutive trading days.
• Continues to be listed on Nasdaq Capital Market.

Negative

• None.

CHESTERBROOK, Pa., Nov. 29, 2022 (GLOBE NEWSWIRE) -- Trevena, Inc. (Nasdaq: TRVN), a biopharmaceutical company focused on the development and commercialization of novel medicines for patients with central nervous system (CNS) disorders, today announced that it has received notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (Nasdaq) by letter dated November 28, 2022 informing Trevena that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The Company maintained a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days and, as a result of regaining compliance, its common stock will continue to be listed on the Nasdaq Capital Market.

About Trevena
Trevena, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative medicines for patients with CNS disorders. The Company has one approved product in the United States, OLINVYK^® (oliceridine) injection, indicated in adults for the management of acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company’s novel pipeline is based on Nobel Prize winning research and includes three differentiated investigational drug candidates: TRV045 for diabetic neuropathic pain and epilepsy, TRV250 for the acute treatment of migraine and TRV734 for maintenance treatment of opioid use disorder.

For more information, please visit www.Trevena.com

For more information, please contact:

Investor Contact:
Dan Ferry - Managing Director
LifeSci Advisors, LLC
daniel@lifesciadvisors.com
(617) 430-7576

PR & Media Contact:
Sasha Bennett
Associate Vice President
Clyde Group
Sasha.Bennett@clydegroup.com
(239) 248-3409

Company Contact:
Bob Yoder
SVP and Chief Business Officer
Trevena, Inc.
(610) 354-8840

FAQ

What is the recent compliance status of Trevena (TRVN) with Nasdaq?

Trevena (TRVN) has regained compliance with Nasdaq's minimum bid price requirement as of November 28, 2022.

How long did Trevena maintain its minimum bid price to comply with Nasdaq rules?

Trevena maintained a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days.

What will happen to Trevena’s stock listing status?

Trevena’s common stock will continue to be listed on the Nasdaq Capital Market.

What products does Trevena offer?

Trevena offers OLINVYK (oliceridine) injection for the management of acute pain.