Trevena stock jumps ~400% as partner gets Chinese approval for pain drug Olinvyk

$Trevena(TRVN.US)$ said its partner Jiangsu Nhwa received approval from China's National Medical Products Administration (NMPA) for opioid pain drug Olinvyk.
The NMPA approved Olinvyk (oliceridine) for use in adults for managing acute pain severe enough to require an intravenous opioid analgesic and for whom alternative therapies are inadequate.
The approval was backed by results from two bridging trials in China and clinical data in the U.S.
Following this approval, Trevena is due to get a $3M milestone payment from Jiangsu Nhwa.
Trevena added that it is also eligible to receive $15M upon first commercial sale of Olinvyk in China, in connection with its non-dilutive royalty-based financing with an affiliate of R-Bridge Healthcare Fund, an affiliate of CBC Group.
As part of the R-Bridge Financing, Trevena previously received $15M upfront and may get an additional $10M upon achieving either a commercial or financing milestone, the company noted.