Investor Alert: Kaplan Fox Announces Investigation Of Trevena Inc.

NEW YORK, Nov. 2, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Trevena Inc. ("Trevena" or the "Company") (NASDAQ: TRVN).  Investors who purchased Trevena securities between May 2, 2016 and October 9, 2018 (the "Class Period") may be affected.  A complaint has been filed in the United States District Court for the Eastern District of Pennsylvania against Trevena and certain executives on behalf of investors that purchased or otherwise acquired Trevena securities during the Class Period.

According to the complaint, Trevena is a biopharmaceutical company currently developing OLINVO (oliceridine) Injection, touted as a next generation IV analgesic for the management of moderate-to severe acute pain in the hospital and similar settings and has been granted Breakthrough Therapy designation by the United States Food and Drug Administration ("FDA").

In advance of the FDA's meeting to review the Company's New Drug Application ("NDA") for its post-operative pain drug OLINVO, FDA briefing documents were published which, according to the complaint, revealed that the FDA had informed the Company at a meeting in 2016 that the FDA "did not agree with the proposed dosing in the Phase 3 studies," the proposed primary endpoint, or the "proposed non-inferiority (NI) margin for comparing morphine to oliceridine."

Following this news, shares of Trevena's common stock fell more than 64% on October 9, 2018 to close at $1.07 per share.

On November 2, 2018, Trevena issued a press release reporting that the Company received a Complete Response Letter declining to approve oliceridine.  Following this news, Trevena's common stock fell more then 35% to close at $0.681 per share.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that (1) the FDA had not agreed to key elements of the Company's Phase 3 trial for oliceridine (TRV130), (2) the FDA was unlikely to approve oliceridine based on the Company's Phase 3 trial, and (3) as a result, Trevena's public statements were materially false and misleading at all relevant times.

If you are a member of the proposed Class, you may move the court no later than December 10, 2018 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP