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.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: TRVN
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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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:
Block & Leviton LLP 155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110 (617) 398-5600 (617) 507-6020 ·
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:
Class Action Complaint for Violation of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available