Shares of Trevena Inc. (TRVN) were soaring ahead of market's open Thursday thanks to the company's announcement of positive phase three data for its IV opioid drug, Olinvo. The company's shares were up 10.8% ahead of the opening bell, hitting $3.60 apiece. This was after shares lost nearly 5% of their value Wednesday.
"The results suggest that Olinvo can be dosed to manage moderate-to-severe acute pain, so that patients may titrate opioid dosing as needed," said Eugene Viscusi, who worked on the study.
Jazz Pharmaceuticals (JAZZ) was also making positive moves ahead of the opening bell. Shares were up nearly 7% on news that the company has settled with Hikma Pharmaceuticals on its patent lawsuit over its narcolepsy drug. Jazz won the suit, causing its shares to soar to nearly $150 apiece. This was after the company fell nearly 2% Wednesday.
Merrimack Pharmaceuticals (MACK) also saw a nice pop ahead of market's open Thursday. Shares were up nearly 5%, hitting $3.28 apiece. This was after the company fell 3.4% Wednesday when it declared a $140 million special dividend after completing an asset sale.
Synergy Pharma (SGYP) meanwhile continued to fall Thursday. Shares were down 3.3% at Wednesday's close, and then fell another 5% ahead of opening bell Thursday. They were hovering at around $4.10 per share. The drop was likely thanks to the unveiling of a somewhat unconventional launch of a set of emojis called the "Poop Troop" that will "encourage conversation and allow people to better express the physical and emotional impact of chronic idiopathic constipation."