Traverna Inc. (TRVN) stock prices surged an astounding 31.58% on April 15th, 2021, coming to a market close price of USD$2.25. Subsequent pre-market fluctuations saw a 4.89% dip to bring the price of TRVN shares to USD$2.14. The dip is most likely a result of investors cashing out from the monumental gains for fear of a reversal.
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Is TRVN Profitable?
Currently, TRVN has a quarterly net loss of USD$11.9 million and no product revenue being generated, yet it still has a market cap of USD$283 million. Given how TRVN is eyeing a USD$1.5 billion market opportunity, the company valuation is clearly based on future earnings potential based on its assets.
What is OLINVYK?
2020 saw TRVN secure regulatory approval of Olinvyk, the biopharma company’s flagship drug and primary asset. The opioid will be used in hospitals and controlled clinical settings to treat patients’ acute pain, with a launch anticipated for Q1 2021 and a price of USD$17.50/mg.
Appeal of OLINVYK
TRVN used the AMCP 2021 Annual Meeting as a platform to showcase two poster presentations outlining economic models for their OLINVYK drug. In the Base Case Model, the substitution of OLYNVYK in lieu of traditional IV morphine resulted in cost savings of almost USD$230,000 in cost of care per 1,000 patients. These savings are attributed to the reduced AEs for patients who had been administered OLINVYK. This claim is based on observational evidence in Phase 3 pivotal trials and draws its estimates from reliable literary and government sources.
Further Savings from OLINVYK
In a High-Risk Model, the use of OLINVYK over IV morphine offers savings of nearly UDS$364,000 in the total cost of care per 1,000 patients. In this model, the total cost of care of patients who had been administered IV morphine would surpass USD$1.25 million per 1,000 patients.
TRVN Financials Moving Forward
2020 had seen TRVN bolster its financial position with the undertaking of a public offering of its common stock, netting USD$57.5 million, and OLINVYK approval resulting in a USD$3 million milestone payment from its partner in China. As of December 31st, 2020, TRVN reported USD$109.4 million in cash and cash equivalents, which it anticipates being enough to fund operating expenses and capital expenditure until Q4 2022.
Promising Road Ahead for TRVN
With such a promising financial outlook and the progress made by OLINVYK, TRVN seems set for a successful and lucrative future.