Trevi Therapeutics Prices $150M Public Offering, Securing Funding for Haduvio Phase 3 Trials Through 2029

summarizeSummary

Trevi Therapeutics announced the pricing of its underwritten public offering, raising approximately $141.1 million to $162.4 million, which is expected to extend its cash runway through 2029 and fund pivotal Phase 3 clinical trials for Haduvio.

check_boxKey Events

• Public Offering Priced

  Trevi Therapeutics finalized its underwritten public offering, selling 11,600,000 shares of common stock at $13.00 per share. This follows the proposed offering announced on April 16, 2026.

• Significant Capital Raise

  The offering is expected to generate net proceeds of approximately $141.1 million, or $162.4 million if the underwriters fully exercise their option to purchase an additional 1,740,000 shares.

• Extended Cash Runway

  The company estimates that the proceeds, combined with existing cash, will be sufficient to fund operations through 2029, including its planned Phase 3 trials for Haduvio.

• Clinical Development Advancement

  The funding will support two pivotal Phase 3 trials for Haduvio in IPF-related chronic cough, with topline results expected in H2 2027 and H1 2028, as well as Phase 2b trials for non-IPF ILD and refractory chronic cough.

auto_awesomeAnalysis

This 8-K is highly important as it finalizes the terms of a substantial capital raise for Trevi Therapeutics, a clinical-stage biopharmaceutical company. The offering, priced at a modest discount to the current market price, is expected to generate net proceeds of $141.1 million to $162.4 million. Crucially, these funds are projected to extend the company's cash runway through 2029, enabling the advancement of its lead investigational therapy, Haduvio, through two pivotal Phase 3 trials for IPF-related chronic cough and additional Phase 2b trials. For a biotech, securing long-term funding for late-stage clinical development is a significant de-risking event, providing financial stability to pursue regulatory approvals. The detailed clinical development timelines further clarify the path forward for Haduvio.