initial public offerings (IPOs) trading on American exchanges

Friday, January 31, 2014

Trevena (TRVN) began trading on the NASDAQ on 31 January 2014

Two months after postponing its proposed initial public stock offering because of unfavorable market conditions, Trevena Inc. will be trading on NASDAQ.

The King of Prussia, PA biopharmaceutical company will begin trading Friday in a $64.75 million IPO. It is selling 9.25 million shares of common stock at $7 per share.

Trevena’s focus is on developing the next generation of medicines that target G-protein coupled receptors (GPCRs). GPCRs are a large family of cell surface receptors that trigger signaling pathways linked to cellular function and disease processes. The The 6-year-old company’s “biased” GPCR ligands work by binding to receptors that are “biased” toward either activating or blocking specific signaling pathways to treat a disease.

Trevena, according to its SEC filing, plans to use the bulk of its proceeds from the proposed stock offering to continue the development of its two lead drug candidates: TRV027, an acute heart failure treatment, and TRV130, a treatment of moderate-to-severe acute pain. It also plans to advance additional product candidates, including two preclinical programs focused on central nervous system indications.

The company, led by CEO Maxine Gowen, has granted the underwriters a 30-day option to purchase up to 1.4 million additional shares of common stock to cover overallotments. The offering is expected to close on February 5, 2014, subject to customary closing conditions.

Barclays Capital and Jefferies are joint book-running managers for the offering. Canaccord Genuity Inc., JMP Securities and Needham & Co. are acting as co-managers.

From those keeping track at home, Trevena's stock sale makes four initial public stock offerings by Philadelphia region’s life sciences company since last summer.

Onconova Therapeutics of Newtown, Pa., and TetraLogic Pharmaceuticals of Malvern, Pa., completed IPO’s last year. Akers Biosciences Inc. of Thorofare, N.J., raised $15 million in a public stock offering that put the company’s stock on NASDAQ. It previously traded only on the London Stock Exchange.


Suite A, 1018 West 8th Avenue
United States

Key stats and ratios

Q3 (Sep '13)2012
Net profit margin--1936.07%
Operating margin--1932.89%
EBITD margin--1835.38%
Return on average assets-65.90%-113.73%
Return on average equity--

No comments:

Post a Comment