H.C. Wainwright Starts Trevena (TRVN) at Buy

H.C. Wainwright initiates coverage on Trevena (NASDAQ: TRVN) with a Buy rating and a price target of $11.00.

Analyst Ed Arce commented, "Today, opioid analgesics (morphine, hydromorphone, fentanyl) remain the foundation of moderate-to-severe pain management in the hospital (even within multimodal regimens), despite their well-known and burdensome side effects, especially respiratory failure (175,000 annual cases; a few fatal), nausea and vomiting (delays patient recovery) and constipation (delays hospital discharge). In fact, as a class, opioid analgesics are the most prescribed drugs (in units) in the U.S., largely because of its unmatched level of pain relief, and all drugs in the class are available as inexpensive generics. We believe Trevena's lead drug, oliceridine, retains the rapid and potent efficacy of conventional opioids, while addressing the long unmet need of a safer and more tolerable pain killer. In two prior Phase 2 pain trials (bunionectomy and abdominoplasty), oliceridine demonstrated comparable efficacy to morphine (and with a faster onset of action), while inducing significantly fewer opioid-related adverse events (nausea, vomiting and hypoventilation). With Fast Track and Breakthrough Therapy designations, oliceridine represents, in our view, a unique pharmacologic profile in the pain space which offers benefits attractive to hospitals, physicians and patients."

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Shares of Trevena closed at $6.61 yesterday.

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