Wed, May 15, 11:16 AM (72 days ago)
Trevena, Inc.'s Q1 2024 10-Q report reveals a challenging financial period. The company reported a net loss of $7.7 million, slightly improved from a $7.8 million loss in Q1 2023. Revenue was minimal at $20,000, derived from product sales of OLINVYK, an opioid analgesic. Operating expenses were $9.9 million, down from $10.1 million in Q1 2023, with reductions in selling, general, and administrative costs. The company's cash and equivalents decreased to $23.6 million from $33.5 million at year-end 2023, raising concerns about its ability to continue as a going concern. Trevena is exploring strategic alternatives for OLINVYK and seeking additional funding through equity or debt financings. The company also faces compliance challenges with Nasdaq listing requirements.