Background and restated certificateDescription of incorporation, as amended, currently authorizes the CompanyIssuance Proposal

On December 27, 2023, we entered into a securities purchase agreement (the “Purchase Agreement”) with an institutional accredited investor (the “Purchaser”), for the sale and issuance in a private placement of an aggregate of 2,779,906 pre-funded warrants (the “Pre-Funded Warrants”) to issue a total of 205,000,000 shares of capital stock, consisting of 200,000,000purchase up to 2,779,906 shares of Common Stock and 5,000,000 shares of Preferred Stock. On July 27, 2022, subject to stockholder approval, our Board of Directors approved an amendment to our Restated Certificate to, at the discretion of the Board of Directors, effect the reverse stock split of our common stock at a ratiopurchase price of 1-for-2 to 1-for-25, including any  shares held by the Company as treasury shares, at any time prior to December 19, 2022, with the exact ratio within such range to be determined by our Board of Directors at its discretion without further approval or authorization of our stockholders and included in a public . The full text of the proposed amendment is attached to this Proxy Statement as Appendix A. The primary goal of the Reverse Stock Split is to increase the$0.699 per share market price of our common stock to meet the minimum per share bid price requirements for continued listing on The Nasdaq Capital Market. We believe that a range of Reverse Stock Split ratios provides us with the most flexibility to achieve the desired results of the Reverse Stock Split. The Reverse Stock Split is not intended as, and will not have the effect of, a “going private transaction” covered by Rule 13e-3 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Reverse Stock Split is not intended to modify the rights of existing stockholders in any material respect.

Concurrently with the Private Placement, the Company also entered into an inducement letter agreement (the “Inducement Letter”) with the holder (the “Holder”) of certain of our existing warrants to purchase up to an aggregate of 2,934,380 shares of Common Stock issued to the Holder in July 2022 and November 2022 (collectively, the “Existing Warrants”). Pursuant to the Inducement Letter, the Holder agreed to exercise for cash its Existing Warrants to purchase an aggregate of 2,934,380 shares of Common Stock at a reduced exercise price of $0.70 per share in consideration of the Company’s agreement to issue new Common Stock purchase warrants (the “New Warrants” and, together with the Common Warrants, the “Warrants”) to purchase up to an aggregate of 5,868,760 shares of Common Stock (the “New Warrant Shares” and, together with the Common Warrant Shares, the “Warrant Shares”) at an exercise price of $0.70 per share (as adjusted from time to time). The foregoing transaction is referred to herein as the “Warrant Exercise” and the Warrant Exercise and the Private Placement are collectively referred to herein as the “Offerings.”

We also previously entered into an Engagement Letter, dated as of December 4, 2023 (as amended, the “Engagement Letter”) with H.C. Wainwright & Co., LLC (the “Placement Agent”), pursuant to which we agreed to pay the Placement Agent, as the exclusive placement agent in connection with the Offerings, a cash fee equal to 6.5% of the aggregate gross proceeds raised in the Offerings. The Company also paid the Placement Agent approximately $75,000 for non-accountable expenses and $15,950 for clearing fees. The Engagement Letter has indemnity and other customary provisions.

Nasdaq Listing Rule 5635 requires that a listed company seek stockholder approval and without further action by the stockholders, to abandon the Reverse Stock Split if, at any timein certain circumstances, including prior to the effectivenessissuance, in a transaction other than a public offering, of 20% or more of the filingcompany’s outstanding common stock or voting power outstanding before the issuance at a price that is less than the lower of (i) the Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the signing of the amendmentbinding agreement in connection with such transaction, or (ii) the Secretary of State of the State of Delaware, the Board of Directors, in its sole discretion, determines that it is no longer in the Company’s best interest and the best interests of our stockholders to proceed in light of, among other things, our ability to increase the trading price of our common stock to meet the minimum stock price standards of Theaverage Nasdaq Capital Market without effecting the Reverse Stock Split, the per share priceOfficial Closing Price of the common stock (as reflected on Nasdaq.com) for the five trading days immediately priorpreceding the signing of such binding agreement (the “Minimum Price”).

Pursuant to the Reverse Stock SplitPurchase Agreement and the expected stabilityInducement Letter, we agreed to seek approval by our stockholders for the issuance of the per share priceWarrant Shares. See the “Securities Purchase Agreement” and “Inducement Letter” below.

Reasons for the Offerings

In approving the Offerings, the Board considered the pros and cons of the common stock followingOfferings versus other alternatives for raising capital, the Reverse Stock Split. Ifworking capital needs of the Company, and the opportunities and risks presented with the Securities Purchase Agreement and the Inducement Letter. We believe the Offerings, which yielded gross proceeds of approximately $4.0 million, was necessary in light of the Company’s cash and funding requirements at the time. In addition, at the time of the Offerings, our Board considered numerous other alternatives to the transaction, none of Directors determineswhich proved to be feasible or, in the opinion of our Board, would have resulted in aggregate terms equivalent to, or more favorable than, the terms obtained in the Offerings. In light of the foregoing, the Company determined that it isthe Offerings were in the best interests of the Company and its stockholdersstockholders.

Securities Purchase Agreement

The Purchase Agreement provides that the Purchaser, whose purchase of Common Stock in the Private Placement would result in such Purchaser’s beneficial ownership exceeding 4.99% (or, at the election of the Purchaser, 9.99%) of the Company’s outstanding Common Stock, the option of purchasing Pre-Funded Warrants in lieu of shares of Common Stock in such manner as to result in the same aggregate purchase price being paid by such Purchaser to the Company.

In light of the foregoing beneficial ownership limitations, at the closing of the Private Placement, the Company issued to the Purchaser (i) Pre-Funded Warrants to purchase an aggregate of 2,779,906 shares of Common Stock and (ii) Common Warrants to purchase up to an aggregate of 2,779,906 shares of Common Stock. No shares of Common Stock were issued to the Purchaser in the Private Placement.

The Pre-Funded Warrants have an exercise price of $0.001 per Pre-Funded Warrant and can be exercised at any time from the date and time of issuance until the Pre-Funded Warrants are exercised in full. The terms of the Pre-Funded Warrants preclude a holder thereof from exercising such holder’s Pre-Funded Warrants, and the Company from giving effect to such exercise, if after giving effect to the issuance of Common Stock upon such exercise, the holder (together with the holder’s affiliates and any other persons acting as a group together with the holder or any of the holder’s affiliates) would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon such exercise.

The Common Warrants issued to the Purchaser in the Private Placement have an exercise price of $0.70 per share, become exercisable upon the date of stockholder approval and will expire five years thereafter. The terms of the Common Warrants preclude a holder thereof from exercising such holder’s Common Warrant, and the Company from giving effect to such exercise, if after giving effect to the issuance of Common Stock upon such exercise, the holder (together with the holder’s affiliates and any other persons acting as a group together with the holder or any of the holder’s affiliates) would beneficially own in excess of 4.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of Common Stock upon such exercise.

A holder may increase or decrease the beneficial ownership thresholds relating to the Pre-Funded Warrants and Common Warrants specified above, except that the beneficial ownership limitation may not exceed 9.99% in any event.

The Company agreed not to effect any variable rate transaction, subject to certain exceptions, until one year after the Reverse Stock Split, it will hold a Board of Directors meeting to determine the ratioeffective date of the ReverseResale Registration Statement (as defined below). The Company further agreed not to issue any shares of Common Stock Split. For additional information concerningor Common Stock equivalents or to file a registration statement (other than as provided in the factorsInducement Letter and the Board of Directors will consider in deciding whetherRegistration Rights Agreement (as defined herein)) with the SEC (in each case, subject to effectcertain exceptions) until 60 days after the Reverse Stock Split, see “Determinationeffective date of the Reverse Stock Split Ratio” and “Board Discretion to EffectResale Registration Statement.

In addition, the Reverse Stock Split” below.

Common Warrants

The Common Warrants issued to the Purchaser in the Private Placement are exercisable for Common Warrant Shares upon the date of authorized sharesstockholder approval and expire five years from the date of our common stock or Preferred Stock, but it will reduce the number of outstanding shares of common stock and Preferred Stock. The Reverse Stock Split will also affect outstanding equity awards and warrants, as described in “Principal Effects of the Reverse Stock Split” below.

Inducement Letter

The Inducement Letter contains representations and warranties of us and the Investor, which are typical for transactions of this type. In addition, the Inducement Letter contains customary covenants on our common stockpart that are typical for transactions of this type, as well as the following additional covenants: (i) we agreed not to meetenter into any variable rate transactions for a period of one year following the minimum per share bid price requirementclosing date of the Warrant Exercise, subject to certain exceptions, (ii) we agreed not to issue any shares of Common Stock or Common Stock equivalents or to file any registration statements with the SEC (in each case, subject to certain exceptions) until 60 days after the closing date of the Warrant Exercise, (iii) we agreed to file a registration statement on Form S-3 (or other appropriate form, including on Form S-1, if we are not eligible to utilize Form S-3) providing for continued listing on The Nasdaq Capital Market. We also believe effecting the Reverse Stock Split (i) will align our outstanding sharesresale of the New Warrant Shares issued or issuable upon the exercise of the New Warrants (the “Resale Registration Statement”), as soon as practicable after the closing date of the Warrant Exercise, and share price more closely with companiesto use commercially reasonable efforts to have such Resale Registration Statement declared effective by the SEC within 90 days following the date of the Inducement Letter and to keep the Resale Registration Statement effective at all times until no holder of the New Warrants owns any New Warrants or New Warrant Shares, and (iv) we agreed to hold a meeting of our sizestockholders no later than 90 days following the date of the Inducement Letter to solicit our stockholders’ affirmative vote for approval of the issuance of the maximum New Warrant Shares upon exercise of the New Warrants in accordance with the applicable law and scope, (ii) may have the effect of making our shares more attractive to institutionalrules and individual investors by increasing the market price of our common stock; (iii) will result in a greater number of shares of common stock available for issuance by us; and (iv) will help us leverage strategic opportunities that will benefit the Company and our stockholders.

Pursuant to the Warrant Exercise, the Holder exercised for cash its Existing Warrants to purchase an aggregate of this Proxy, we were not2,934,380 shares of Common Stock (1,234,380 of which shares of Common Stock are being held in complianceabeyance for the benefit of the Holder due to certain beneficial ownership limitations) at a reduced exercise price of $0.70 per share, and in consideration therefor, the Company issued New Warrants to purchase up to an aggregate of 5,868,760 shares of Common Stock.

The resale of the Common Stock underlying the exercised Existing Warrants is registered pursuant to an effective registration statement on Form S-3 (File No. 333-251006), filed with Rule 5550(a)(2). If we do not regain compliance with Rule 5550(a)(2)the SEC on November 27, 2020 and declared effective by the Second Compliance DateSEC on December 4, 2022 (as supplemented by the prospectus supplements dated as of July 28, 2022 and November 16, 2022, respectively, filed with the SEC pursuant to Rule 424(b) of the Securities Act).

The Inducement Letter provides that the Company’s obligations with respect to the registration of the New Warrant Shares for resale shall be governed by the Registration Rights Agreement and the New Warrant Shares are not eligibleincluded as Registrable Securities (as defined therein) under the Registration Rights Agreement.

New Warrants

The New Warrants are exercisable for an additional compliance period at that time,New Warrant Shares upon the date of stockholder approval and expire five years from the date of stockholder approval of the issuance of the New Warrant Shares, pursuant to the applicable rules of the Nasdaq staff will provide written notification to us that our common stock will be subject to delisting. A decrease inStock Market. The New Warrants have an exercise price of $0.70 per share. The exercise price and the number of outstanding sharesNew Warrant Shares issuable upon exercise of our commonthe New Warrants are subject to customary adjustments for stock resulting from the Reverse Stock Split should, absent other factors, assist in ensuring that the per share market price of our commondividends, stock remains above the requisite price for continued listing. However, we cannot provide any assurance that our minimum bid price would remain over the minimum bid price requirement of The Nasdaq Capital Market following the Reverse Stock Split.

Registration Rights Agreement

The Company also entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchaser requiring the Company to register the resale of the shares of available but unissued common stock,Common Stock, the Reverse Stock Split will increaseshares issuable upon exercise of the numberPre-Funded Warrants, the shares issuable upon exercise of authorized but unissued shares. the Common Warrants, and the shares issuable upon the exercise of the New Warrants.

Principal Effects of the Issuance of the Warrant Shares

The Boardpotential issuance of Directors believes thatthe Common Warrant Shares and the New Warrant Shares would result in an increase in the number of shares available for issuance is necessary because, at the current level of authorized shares of common stock, we are limited in our abilities to move the company forward in key strategic areas. In addition to the 165,681,085 million shares of common stockCommon Stock outstanding, as of July 29, 2022, the Board has reserved 30,781,586 million shares for issuance upon exercise of outstanding options and warrants, vesting of outstanding restricted stock units, and under our equity incentive, inducement and employee stock purchase plans. Without implementing the Reverse Stock Split Proposal set forth in this Proxy Statement, this leaves 3,537,329 million shares of our authorized common stock available for future issuance.

Reasons for Nasdaq Stockholder Approval

Nasdaq Listing Rule 5635(d) requires us to obtain stockholder approval prior to the issuance of securities in anyconnection with a transaction other than a public offering involving the sale, issuance or potential issuance by us of our stockholders receiving a cash payment in lieu of owning a fractional share, as described in the section titled “Fractional Shares” below. Common stock issued pursuant to the Reverse Stock Split will remain fully paid and non-assessable. The Reverse Stock Split will not affect the Company’s continuing obligations under the periodic reporting requirements of the Exchange Act. Following the Reverse Stock Split, our common stock will continue to be listed on The Nasdaq Capital Market, under the symbol “TRVN,” although it would receive a new CUSIP number.

Immediately prior to the execution of the Securities Purchase Agreement and the Inducement Letter, we had 15,564,545 shares of common stock issuable upon exercise or conversionCommon Stock issued and outstanding. Therefore, the potential issuance of 8,648,666 shares of our Common Stock (consisting of 2,779,906 Common Warrant Shares and 5,868,760 New Warrant Shares) would have constituted greater than 20% of the shares of Common Stock outstanding stock options, warrants and restricted stock awards will be rounded downimmediately prior to the nearest whole shareexecution of the Securities Purchase Agreement and the exercise prices will be rounded upInducement Letter. We are seeking stockholder approval under Nasdaq Listing Rule 5635(d) for the sale, issuance or potential issuance by us of our Common Stock (or securities exercisable for our Common Stock) in excess of 3,112,909 shares, which is 20% of the shares of Common Stock outstanding immediately prior to the nearest cent,execution of the Securities Purchase Agreement and no cash payment will be made in respect of such rounding. In addition, the number of shares of common stock reserved under the Company’s equity incentive plan and employee stock purchase plan will automatically be proportionately adjusted for the reverse stock split ratio, such that fewer shares will be subject to such plans.

We cannot predict whether the Warrant holders will exercise their Warrants. For these reasons, we are unable to accurately forecast or predict with any certainty the total amount of July 29, 2022, relating toWarrant Shares that may ultimately be issued. Under certain circumstances, however, it is possible, that we will issue more than 20% of our outstanding common stock based onshares of Common Stock to the minimum and maximum reverse split ratioWarrant holders. Therefore, we are seeking stockholder approval under this proposal to issue more than 20% of 1-for-2 and 1-for-25, respectively, which isour outstanding shares of Common Stock, if necessary, to the ratio range thatWarrant holders.

Approval by our stockholders are being askedof this Issuance Proposal is also one of the conditions for us to approve. The table sets forth (i)receive additional proceeds up to $6.1 million upon the exercise of the Warrants, if exercised for cash. Loss of these potential funds could jeopardize our ability to execute our business plan.

Any transaction requiring approval by our stockholders under Nasdaq Listing Rule 5635(d) would likely result in a significant increase in the number of shares of our common stockCommon Stock outstanding, and, as a result, our current stockholders will own a smaller percentage of our outstanding shares of Common Stock.

Under the Nasdaq Listing Rule 5635(b), we are not permitted (without risk of delisting) to undertake a transaction that could result in a change in control of us without seeking and obtaining separate stockholder approval. Because the terms of the Warrants include beneficial ownership limitations that prohibit the exercise of the Warrants to the extent that such exercise would result in the holder and its affiliates, collectively, beneficially owning or controlling more than 4.99% (which percentage can be issued andincreased to 9.99%) of the total outstanding (ii) the number of shares of our common stock that would be reservedCommon Stock the Offerings do not constitute a change of control for the purposes of Nasdaq Listing Rule 5635(b).

Potential Consequences of Not Approving the Issuance Proposal

The Board is not seeking the approval of our stockholders to authorize our entry into or consummation of the transactions contemplated by the Securities Purchase Agreement or the Inducement Letter, as the Offerings have already been completed and the Warrants have already been issued. We are only asking for approval to issue the shares of Common Stock underlying the Warrants upon exercise thereof.

The failure of our stockholders to approve the Issuance Proposal will mean that: (i) we cannot permit the exercise of the Warrants and (ii) we may incur substantial additional costs and expenses, including the costs and expense of seeking stockholder approval until our stockholders approve the issuance of the shares of Common Stock underlying the Warrants pursuant to outstanding options, restricted stock unitsthe Securities Purchase Agreement and warrantsthe Inducement Letter.

We would realize an aggregate of up to approximately $6.1 million in gross proceeds if all the Warrants were exercised for cash. If our stockholders do not approve the Issuance Proposal and (iii) the weighted-average exercise price of outstanding options and warrants, each giving effectWarrants cannot be exercised, we will not receive any such proceeds, which could adversely impact our ability to fund our operations.

After extensive efforts to raise capital on more favorable terms, we believed the Reverse Stock Split and based on securities outstandingOfferings were the only viable financing alternatives available to us at the time. In addition, unless we obtain stockholder approval for the Issuance Proposal at the initial meeting, we will be required to incur additional costs in order to hold additional stockholder meetings every 90 days following the initial meeting to seek such approval. Further, until such time as of July 29, 2022.

Further Information

The terms of the Series A Convertible Preferred Stock are set forth in a Certificate of Designation of Preferences,Purchase Agreement, the Inducement Letter, the Registration Rights and Limitations of Series A Convertible Preferred Stock (the “Series A Certificate of Designation”),Agreement and the termsWarrants are only briefly summarized above. For further information, please refer to the forms of the Series B Convertible Preferred Stock are set forth in a Certificate of Designation of Preferences, RightsPurchase Agreement, Inducement Letter, the Pre-Funded Warrant, the Common Warrants and Limitations of Series B Convertible Preferred Stock (the “Series B Certificate of Designation” and together with the Series A Certificate of Designation, the “Certificates of Designation”), eachNew Warrants, which were filed with the State of DelawareSEC as exhibits to our Current Report on Form 8-K, filed with the SEC on December 28, 2023, and were made effective on July 29, 2022.

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposal except to the extent of their ownership of shares of our common stock.

If at the Special Meeting, the number of votes represented by shares of the common stock, Series A Convertible Preferred Stock and Series B Convertible PreferredCommon Stock present or represented and voting in favor of the Issuance Proposal 1(Proposal 1) is insufficient to approve the proposal or establish a quorum, our management may move to adjourn the Special Meeting in order to enable our board of directorsBoard to continue to solicit additional proxies in favor of Proposal 1.

In this proposal, we are asking our stockholders to authorize the holder of any proxy solicited by our board of directorsBoard to vote in favor of adjourning, postponing or continuing the Special Meeting and any later adjournments. If our stockholders approve the adjournment, postponement or continuation proposal, we could adjourn, postpone or continue the Special Meeting, and any adjourned session of the Special Meeting, to use the additional time to solicit additional proxies in favor of Proposal 1, including the solicitation of proxies from stockholders that have previously voted against the proposals. Among other things, approval of the adjournment, postponement or continuation proposal could mean that, even if proxies representing a sufficient number of votes against Proposal 1 have been received, we could adjourn, postpone or continue the Special Meeting without a vote on Proposal 1 and seek to convince the holders of those shares to change their votes to votes in favor of the approval of Proposal 1.

The affirmative vote of the majority of votes represented by shares present, either in person or represented by proxy, and entitled to vote thereon at the Special Meetingon this proposal is required to approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes to adoptapprove Proposal 1. Abstentions will be the equivalent of votes against“AGAINST” this proposal and brokerproposal. Broker non-votes will not have an effect on the outcome of this proposal