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Biotech / Medical : biotech firesales

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From: tuck2/21/2017 9:08:35 AM
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Trevena (TRVN) off 34% premarket. They needed a home run in P3 post op pain trials and got a triple. Hit primary endpoints, but weren't stat sig on certain safety related secondary ones at all doses (only the lowest dose). Throws label/marketability in doubt. The PR doesn't give the data for the higher dose safety measures, so one can't discern the strength of the trend towards stat sig (company says the complete data being held for medical meeting). If they got close, might be enough. If not, cost/benefit versus morphine will be a tough sell.

Had a modest position in this one ( less modest in charity portfolio, oh well) and will hold for the moment, but not recommending anything here on these equivocal results, as it's the only program the company has that matters.

Cheers, Tuck
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