Trevena, Inc. (NASDAQ: TRVN) has been reiterated with a ‘Buy’ rating and $14 price target at Aegis Capital Corp., which noted that the commercial potential of the company’s Olinvo is “under-appreciated.” Olinvo differs from existing active drugs indicated for post-operative pain management by its mechanism of action, and it could be the first in a new class of molecules to receive FDA approval. The Aegis analyst noted that phase 3 read-outs demonstrated efficacy near the equivalent of morphine, as well as with improved side effect profiles, especially for respiratory depression and GI side effects. Aegis also estimated that Olinvo could generate $300 million in peak annual revenue.
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Trevena, Inc. is a biopharmaceutical company developing innovative therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. The company has discovered four novel and differentiated drug candidates, including OLINVO. Trevena also has discovered TRV250, in preclinical development for the treatment of migraine, and TRV734 for pain. The company maintains an early stage portfolio of drug discovery programs.
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