Trevi Raises $162M, Extends Cash Runway to 2030, Accelerating Haduvio Phase 3 Trials
Summary
Trevi Therapeutics reported its first quarter 2026 financial results and provided significant business updates. The company successfully completed an underwritten common stock offering in April 2026, generating approximately $162 million in net proceeds. This substantial financing extends Trevi's expected cash runway into 2030, potentially funding operations through the FDA approval of Haduvio for IPF-related chronic cough. This follows the company's recent 10-K filing which indicated positive Phase 2 results and FDA alignment for Phase 3 trials, with the current news confirming the successful execution of the financing strategy. The extended cash runway is highly material for a clinical-stage biopharmaceutical company, significantly de-risking its ability to fund pivotal Phase 3 trials for Haduvio in IPF-related chronic cough, as well as Phase 2b trials in non-IPF ILD-related chronic cough and refractory chronic cough. Investors will now closely monitor the initiation of the two Phase 3 trials for IPF-related chronic cough in Q2 and H2 2026, with topline results anticipated in H1 2028 and H2 2027, respectively, and further details from the upcoming Investor and Analyst Day.
At the time of this announcement, TRVI was trading at $14.66 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $5.38 to $16.12. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.