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BRIEF-Trevena announces restructuring to focus resources on commercial strategy
October 11, 2017 / 8:13 PM / in 9 days

BRIEF-Trevena announces restructuring to focus resources on commercial strategy

Oct 11 (Reuters) - Trevena Inc

* Trevena announces restructuring to focus resources on commercial strategy

* Trevena Inc - ‍new drug application for olinvo remains on track​

* ‍New Drug Application for Olinvo remains on track for submission in October​

* Trevena Inc - ‍company is reducing its workforce by approximately 30 percent, or 21 full time employees​

* Trevena Inc - ‍company continues to expect to report data later this year from ongoing phase 1 study of TRV250​

* Trevena Inc - ‍also expects to incur a charge in Q4 of 2017 of approximately $2.0 million related to reduction ​

* Trevena inc - ‍company expects to report cash, cash equivalents and marketable securities as of September 30, 2017 of approximately $76.7 million​

* Trevena-Intends to complete ongoing Phase 1 trial of TRV250 for acute migraine, will also assess options for further development of asset

* Trevena - ‍estimates workforce reduction, other initiatives, will reduce cash expected to be used in activities over next 3 calendar years by about $40 million​

* Trevena Inc - ‍company expects cash, cash equivalents and marketable securities will be sufficient to support operations into Q4 of 2018

* Trevena INC - ‍intends to complete ongoing Phase 1 trial of TRV250 for acute migraine​ Source text for Eikon: Further company coverage:

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