Organization and Description of the Business

6 Months Ended

Jun. 30, 2016

Organization and Description of the Business

Organization and Description of the Business

TREVENA, INC.

Notes to Unaudited Financial Statements

1. Organization and Description of the Business

Trevena, Inc. (the “Company”) was incorporated in Delaware as Parallax Therapeutics, Inc. on November 9, 2007. The Company began operations in December 2007, and its name was changed to Trevena, Inc. on January 3, 2008. The Company is a clinical stage biopharmaceutical company that discovers, develops and intends to commercialize therapeutics that use a novel approach to target G protein coupled receptors. The Company operates in one segment and has its principal office in King of Prussia, Pennsylvania.

Liquidity

At June 30, 2016, the Company had an accumulated deficit of $219.5 million. The Company’s net loss was $37.0 million and $24.4 million for the six months ended June 30, 2016 and 2015, respectively. The Company expects its cash and cash equivalents of $36.8 million and marketable securities of $107.7 million as of June 30, 2016, together with interest thereon, to be sufficient to fund its operating expenses and capital expenditure requirements into 2018.