Trevena, Inc (TRVN) saw its loss widen to $36.10 million, or $0.67 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $15.46 million, or $0.30 a share.
The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $1.88 million for the previous year period.
Operating loss for the quarter was $35.84 million, compared with an operating loss of $15.49 million in the previous year period.
“The recent successful completion of the pivotal efficacy studies for OLINVO puts us in a strong position to bring this innovative analgesic to physicians and patients in need of a new option for managing moderate-to-severe acute pain in the hospital,” said Maxine Gowen, Ph.D., chief executive officer. “We believe the data from these studies highlight the potential for OLINVO to reduce the burden of opioid-related adverse effects, particularly for those patients who are at elevated risk for serious consequences from post-operative nausea and vomiting or opioid-induced respiratory depression.”
Working capital drops significantly
Trevena, Inc has witnessed a decline in the working capital over the last year. It stood at $90.34 million as at Dec. 31, 2016, down 43.87 percent or $70.62 million from $160.96 million on Dec. 31, 2015. Current ratio was at 5.10 as on Dec. 31, 2016, down from 12.86 on Dec. 31, 2015.
Debt remains almost stable
Trevena, Inc has witnessed an increase in total debt over the last one year. It stood at $18.33 million as on Dec. 31, 2016, up 0.73 percent or $0.13 million from $18.19 million on Dec. 31, 2015. Short-term debt stood at $5.04 million as on Dec. 31, 2016. Total debt was 15.98 percent of total assets as on Dec. 31, 2016, compared with 10.38 percent on Dec. 31, 2015. Debt to equity ratio was at 0.23 as on Dec. 31, 2016, up from 0.13 as on Dec. 31, 2015.
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