E XHIBIT 99.1 Trevena Announces FDA Has Set PDUFA Date of

tm2011771d1_ex99-1.htm

Trevena Announces FDA Has Set PDUFA Date

of August 7, 2020 for Oliceridine

FDA considers NDA resubmission a complete

Updated guidance on extended cash

runway, funding operations into Q1 2021

CHESTERBROOK, Pa., March 5, 2020 (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 the U.S. Food and Drug Administration (FDA) has acknowledged

receipt of the resubmitted New Drug Application (NDA) for IV oliceridine, the Company's lead investigational asset for the

management of moderate-to-severe acute pain.

"I am pleased that FDA considers our resubmission to be

a complete response to the Agency's 2018 letter. This represents the crucial next step to bringing oliceridine to patients,"

said Carrie Bourdow, President and Chief Executive Officer of Trevena. "There remains a significant clinical need in the

hospital setting for an effective and well-tolerated IV analgesic to help manage patients' moderate-to-severe pain. We are

committed to delivering oliceridine to these patients and their healthcare providers, and we look forward to supporting the agency's

review of our application."

In their acknowledgement letter, FDA stated that the Company's

resubmission is a complete, Class 2 response to the Agency's action letter dated November 2, 2018. A Prescription Drug User

Fee Act (PDUFA) goal date has been set for August 7, 2020.

In addition, the Company today announced that it is updating

and extending its cash runway guidance. Cash, cash equivalents, and marketable securities were approximately $35.8 million as of

December 31, 2019, which the Company believes will be sufficient to fund the Company's operating expenses, debt service,

and capital expenditure requirements into the first quarter of 2021.

The information above related to the Company's expected operating

results for the year ended and as of December 31, 2019, including revenue and cash, cash equivalents, and marketable securities,

is preliminary, has not been audited and is subject to change upon completion of the audit of the Company's financial statements

as of and for the year ended December 31, 2019.

Oliceridine is a G protein-selective mu-opioid receptor agonist

in development for the management of moderate-to-severe acute pain in hospitals or other controlled clinical settings where intravenous

therapy is warranted. It is a new chemical entity with a novel mechanism of action that enables more selective targeting of newly

discovered pathways with the potential for fewer side effects. Oliceridine is an investigational product and has not been approved

by FDA or any other regulatory agency. If approved, the Company expects that oliceridine will be classified as a Schedule II controlled

Trevena, Inc. is a biopharmaceutical company focused on the

development and commercialization of novel medicines for patients with CNS disorders. The Company has four novel and differentiated

investigational drug candidates, including IV oliceridine, for the management of moderate to severe acute pain in hospitals, TRV250

for the acute treatment of migraine, and TRV734 for maintenance treatment of opioid use disorder. The Company has also identified

TRV045, a novel S1P receptor modulator that may offer a new, non-opioid approach to treating a variety of CNS disorders.

Forward-Looking Statements

Any statements in this press release about future expectations,

plans and prospects for the Company, including statements about the Company's strategy, future operations, clinical development

and trials of its therapeutic candidates, plans for potential future product candidates and other statements containing the words

"anticipate," "believe," "estimate," "expect," "intend," "may,"

"plan," "predict," "project," "suggest," "target," "potential,"

"will," "would," "could," "should," "continue," and similar expressions,

constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results

may differ materially from those indicated by such forward-looking statements as a result of various important factors, including:

the status, timing, costs, results and interpretation of the Company's clinical trials or any future trials of any of the

Company's investigational drug candidates; the uncertainties inherent in conducting clinical trials; expectations for regulatory

interactions, submissions and approvals, including the Company's assessment of the discussions with FDA, FDA's acknowledgement

of the submitted NDA for oliceridine and the timing of FDA's decision on the oliceridine NDA; available funding; uncertainties

related to the Company's intellectual property; other matters that could affect the availability or commercial potential

of the Company's therapeutic candidates; and other factors discussed in the Risk Factors set forth in the Company's

Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (SEC) and in other

filings the Company makes with the SEC from time to time. In addition, the forward-looking statements included in this press release

represent the Company's views only as of the date hereof. The Company anticipates that subsequent events and developments

may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements

at some point in the future, it specifically disclaims any obligation to do so, except as may be required by law.