The immediate capital raise after earnings suggests underlying concerns about funding needs despite improved cash position. Monitor for potential delays in trial timelines or additional financing needs beyond current runway.
Price Chart
Executive Summary
Trevi Therapeutics priced a $150 million follow-on offering just one day after reporting earnings, raising concerns about capital needs despite improved cash runway. The company provided updates on its Phase 3 trials for Haduvio, with topline results expected in 2027-2028.
Key Financial Metrics
Key Facts
- Priced $150 million follow-on offering at $13.00/share, one day after earnings report
- Cash runway extended to 2029 from $171.8 million as of March 31, 2026
- Net proceeds estimated at $141.1 million after fees
- Company maintains it will fund development through FDA approval for IPF indication
- No commercial expenses included in current cash runway estimates
Financial Impact
$150 million capital raise at $13.00/share with 13.8% discount to prior day's close
Risk Factors
- Dilution from 13.8% discounted offering
- Insufficient funds for commercial launch or development beyond IPF indication
- Potential trial delays if additional financing is needed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-160355 |
| Document: d587027d8k.htm | 0001193125-26-160355 |
| Document: d587027dex991.htm | 0001193125-26-160355 |
| Document: d587027dex51.htm | 0001193125-26-160355 |
| Document: 0001193125-26-160355-index-headers.html | 0001193125-26-160355 |
| Document: 0001193125-26-160355-index.html | 0001193125-26-160355 |
| Document: 0001193125-26-160355.txt | 0001193125-26-160355 |
| 8-K Data (Synthetic) | 0001193125-26-160355 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | $13.46 $17.26 | ▲ +28.23% | ▲ +23.84% | $14.03 (+4.23%) |
Jun 11, 2026 16w ago | Institutional Cluster | $13.46 $17.26 | ▲ +28.23% | ▲ +23.84% | $14.03 (+4.23%) |
Apr 21, 2026 23w ago | DEFA14A | $14.80 $19.07 | ▲ +28.85% | ▲ +24.07% | $14.03 (−5.20%) |
Apr 20, 2026 23w ago | Press Release | $14.62 $17.36 | ▲ +18.74% | ▲ +11.84% | $14.03 (−4.04%) |
Apr 17, 2026 23w ago | 424B5 | $15.40 $18.15 | ▼ −17.82% | ▼ −11.05% | $14.03 (+8.90%) |
Apr 17, 2026 24w ago | 8-K | $15.23 $17.91 | ▼ −17.60% | ▼ −11.45% | $14.03 (+7.88%) |
Apr 17, 2026 24w ago | Press Release | $15.23 $17.91 | ▲ +17.60% | ▲ +11.45% | $14.03 (−7.88%) |
Mar 17, 2026 28w ago | Press Release | $10.69 $13.46 | ▲ +25.91% | ▲ +14.39% | $14.03 (+31.24%) |
Mar 10, 2026 29w ago | Press Release | $11.94 $13.45 | ▲ +12.65% | ▲ +1.12% | $14.03 (+17.50%) |
Mar 9, 2026 29w ago | Press Release | $11.70 $13.50 | ▲ +15.38% | ▲ +3.40% | $14.03 (+19.91%) |
US Market Status
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