secwatch.observer — SEC 8-K summary
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Issuer:     TREVENA INC (—)
CIK:        0001429560
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001104659-24-061566
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trevena Q1 net loss $7.7M ($0.36/sh); Nasdaq extends compliance deadline to Aug 28
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- Net loss $7.7M ($0.36/sh) in Q1 2024; cash and equivalents $23.6M as of March 31, 2024.
- Nasdaq panel granted extension until Aug 28, 2024 to regain compliance with bid price and equity requirements; delisting stay in effect.
- TRV045 Phase 1 PK study with optimized formulation ongoing; data expected 2H 2024; favorable tolerability profile maintained.
- Cost reductions of $3.5-4.0M annualized from ~35% workforce reduction since year-end 2023.
- OLINVYK strategic review ongoing; exploring sale, license, divestiture, or discontinuation of U.S. commercial sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429560/000110465924061566/0001104659-24-061566-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429560/000110465924061566/tm2414526d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-061566

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer