Trevena Announces $10 Million Registered Direct Offering of Common Stock
January 30 2019 - 7:00AM
Trevena, Inc. (Nasdaq: TRVN) (the “Company”) today announced that
it entered into securities purchase agreements with two
healthcare-focused institutional investors, pursuant to which
Trevena agreed to sell to the purchasers an aggregate of 10,000,000
shares of its common stock at an offering price of $1.00 per share,
in a registered direct offering, for gross proceeds of $10.0
million, before deducting placement agent fees and offering
expenses payable by Trevena. The offering is expected to close on
or about February 1, 2019, subject to customary closing
conditions.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering.
Trevena intends to use the net proceeds from the
offering primarily for the development of its lead product
candidate, oliceridine, and for other general corporate
purposes.
The shares of common stock described above are
being offered by Trevena pursuant to a shelf registration statement
(File No. 333-225685) previously filed and declared effective by
the Securities and Exchange Commission (“SEC”) on June 29, 2018.
The offering of the shares of common stock will be made only by
means of a prospectus supplement that forms a part of the
registration statement. A final prospectus supplement and
accompanying prospectus relating to the offering will be filed with
the SEC. When available, electronic copies of the final prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained from H.C. Wainwright & Co., LLC, 430
Park Avenue, New York, NY 10022, by e-mailing placements@hcwco.com
or by calling (646) 975-6996, or by accessing the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such jurisdiction.
About Trevena
Trevena, Inc. is a biopharmaceutical company
focused on the development and commercialization of new and
innovative treatment options for patients in pain. The Company has
three novel and differentiated investigational drug candidates,
including IV oliceridine, for the management of moderate to severe
acute pain in hospitals, TRV250 for the treatment of acute
migraine, and TRV734 for pain and/or management of opioid
dependence. In its preclinical programs, Trevena is evaluating a
set of novel S1P receptor modulators that may offer a new,
non-opioid approach to managing chronic pain.
Cautionary note on 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 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 uncertainties related to market
conditions and the completion of the offering on the anticipated
terms or at all, the use of proceeds from the offering, the status,
timing, costs, results and interpretation of the Company’s clinical
trials or any future trials; the uncertainties inherent in
conducting clinical trials; expectations for regulatory
interactions, submissions and approvals; availability of funding
sufficient for the Company’s foreseeable and unforeseeable
operating expenses and capital expenditure requirements and whether
cash, cash equivalents, and marketable securities as of December
31, 2018 will be sufficient to fund operating expenses and capital
expenditure requirements into the second quarter of 2020;
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 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.
Contacts
Bob Yoder610-354-8840Trevena, Inc.
Investors:ir@trevena.comorMedia:pr@trevena.com
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