Monitor upcoming clinical trial readouts for Haduvio, as the new capital extends the runway but does not change the underlying development risk. Watch for any updates on FDA discussions or trial enrollment progress.
Price Chart
Executive Summary
Trevi Therapeutics (TRVI) completed a public offering of 13.34 million shares at $13.00 per share, raising approximately $173 million in gross proceeds. The capital raise, which included full exercise of the underwriters' option for 1.74 million additional shares, will support development of its investigational therapy Haduvio for chronic cough conditions.
Key Financial Metrics
Key Facts
- Closed public offering of 13,340,000 shares at $13.00 per share
- Gross proceeds of approximately $173 million before underwriting discounts and expenses
- Underwriters fully exercised option to purchase 1,740,000 additional shares
- Proceeds to fund development of Haduvio™ (oral nalbuphine ER) for chronic cough in IPF, non-IPF ILD, and RCC
- Offering conducted under shelf registration (Form S-3) filed November 13, 2025
Financial Impact
$173 million raised, ~35% dilution based on pre-offering market cap of $2.0B and prior share price near $13
Risk Factors
- Significant shareholder dilution from the offering
- Clinical-stage biotech risk: Haduvio has not yet received regulatory approval
- Future financing needs if trial costs exceed expectations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3277454 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 11, 2026 16w ago | Institutional Cluster | $13.46 $17.26 | ▲ +28.23% | ▲ +23.84% | $14.12 (+4.90%) |
Jun 11, 2026 16w ago | Institutional Cluster | $13.46 $17.26 | ▲ +28.23% | ▲ +23.84% | $14.12 (+4.90%) |
Apr 21, 2026 23w ago | DEFA14A | $14.80 $19.07 | ▲ +28.85% | ▲ +24.07% | $14.12 (−4.59%) |
Apr 20, 2026 23w ago | Press Release | $14.62 $17.36 | ▲ +18.74% | ▲ +11.84% | $14.12 (−3.42%) |
Apr 17, 2026 23w ago | 424B5 | $15.40 $18.15 | ▼ −17.82% | ▼ −11.05% | $14.12 (+8.31%) |
Apr 17, 2026 24w ago | 8-K | $15.23 $17.91 | ▼ −17.60% | ▼ −11.45% | $14.12 (+7.29%) |
Apr 17, 2026 24w ago | Press Release | $15.23 $17.91 | ▲ +17.60% | ▲ +11.45% | $14.12 (−7.29%) |
Mar 17, 2026 28w ago | Press Release | $10.69 $13.46 | ▲ +25.91% | ▲ +14.39% | $14.12 (+32.09%) |
Mar 10, 2026 29w ago | Press Release | $11.94 $13.45 | ▲ +12.65% | ▲ +1.12% | $14.12 (+18.26%) |
Mar 9, 2026 29w ago | Press Release | $11.70 $13.50 | ▲ +15.38% | ▲ +3.40% | $14.12 (+20.68%) |
US Market Status
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