Full Press Release Details
Receipt of Nasdaq Delisting Notification
CHESTERBROOK, Pa., October 4, 2024 (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 on October 4, 2024 the Company received notice that the
Nasdaq Hearings Panel (the "Panel") had determined to delist the Company's common stock from The Nasdaq Stock Market
LLC ("Nasdaq") due to the Company's failure to comply with the minimum stockholder's equity requirement under
Nasdaq Listing Rule 5550(b)(1) (the "Equity Standard Rule"). As previously disclosed, the Panel had provided the Company
until October 2, 2024, to regain compliance with the Equity Standard Rule.
Trading in the Company's common stock will
be suspended on Nasdaq effective with the open of business on October 8, 2024. As a result, the Company expects its common stock to begin
trading on the Pink Open Market operated by the OTC Markets Group, Inc. (commonly referred to as the "pink sheets"). There
can be no assurance that a broker will continue to make a market in the Company's common stock or that trading of the common stock
will continue on an over-the-counter market or elsewhere.
Trevena, Inc. is a biopharmaceutical
company focused on the development and commercialization of innovative medicines for patients with CNS disorders. The Company has one
approved product in the United States, OLINVYK (oliceridine) injection, indicated in adults for the management of
acute pain severe enough to require an intravenous opioid analgesic and for whom alternative treatments are inadequate. The Company's
novel pipeline is based on Nobel Prize winning research and includes three differentiated investigational drug candidates: TRV045 for
diabetic neuropathic pain and epilepsy, TRV250 for the acute treatment of migraine and TRV734 for maintenance treatment of opioid use
For more information, please visit www.Trevena.com
For more information, please contact:
SVP and Chief Business Officer