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Trevena, Inc.

Case Summary

Trevena, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 10/10/2018 (Ongoing date of last review)

Filing Date: October 10, 2018

According to the Complaint, Trevena, Inc. ("Trevena" or the Company) is a clinical stage biopharmaceutical company that discovers, develops and intends to commercialize therapeutics that use a novel approach to target G protein coupled receptors, or GPCRs. Using its proprietary product platform, Trevena has identified four biased ligand product candidates, including oliceridine (TRV130) to treat moderate to severe acute pain intravenously.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's interactions with the FDA. Specifically, Trevena misled its shareholders to believe that its April 28, 2016 End-of-Phase 2 Meeting with the United States Food and Drug Administration ("FDA") was far more successful than it actually was. The Company did so by issuing a press release entitled "Trevena Announces Successful End-of-Phase 2 Meeting with FDA and Outlines Phase 3 Program for Oliceridine," on May 2, 2016, in which it announced that it had "reached general agreement" with the FDA on key elements of its Phase 3 program for oliceridine (TRV130) and was "very pleased" with the outcome of its discussions with the FDA. In reality, the FDA disagreed with Trevena on several key factors relating to whether oliceridine would ultimately be approved for commercial distribution. Trevena's filings therefore concealed the true risks faced by the Company in gaining ultimate FDA approval.

Company & Securities Information

Defendant: Trevena, Inc.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TRVN
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Dr. William Tomaszewski, et al. v. Trevena, Inc., et al.

COURT: E.D. Pennsylvania
DOCKET #: 18-CV-04378
JUDGE: Hon. Cynthia M. Rufe
DATE FILED: 10/10/2018
CLASS PERIOD START: 05/02/2016
CLASS PERIOD END: 10/08/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  2. Kaufman, Coren & Ress, P.C.
    Two Commerce Square, Suite 3900 , Kaufman, Coren & Ress, P.C., PA 19103
    215-735-8700 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 10/10/2018
2 U.S. District Court Civil Docket 10/10/2018
 
 

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