Why Trevena's Stock Is Moving Today

Trevena TRVN shares traded higher on Monday after the company announced the initiation of its TRV027 study in COVID-19 patients in collaboration with Imperial College London.

Trevena is an American biotechnology company. The portfolio pipeline is focused on medicines targeting pain management: TRV734: oral medicine for moderate to severe pain; TRV250: oral medicine for migraines; and TRV027: treatment for acute heart failure. Its leading product is oliceridine (TRV130), a protein-based chemical meant to manage moderate to severe acute pain.

After opening at $1.77, Trevena's shares were trading lower at $1.56 at the time of publication. The stock has a 52-week high of $3.68 and a 52-week low of 46 cents.