Trevi Therapeutics Secures $173 Million in Fully Exercised Share Offering
Trevi Therapeutics closed an underwritten public offering of 13.34 million common shares at $13.00 each, including 1.74 million option shares, raising approximately $173 million before fees. The proceeds will fund ongoing development of Haduvio™ for chronic cough in IPF and non-IPF ILD patients and strengthen Trevi’s clinical-stage cash runway.
1. Offering Details
Trevi completed an underwritten public offering of 13,340,000 common shares at a public offering price of $13.00 per share. The offering included 1,740,000 additional shares issued upon full exercise of the underwriters’ option, generating gross proceeds of approximately $173 million before underwriting discounts and commissions.
2. Use of Proceeds and Cash Position
Net proceeds from the offering will be used to advance clinical development of Haduvio™ (oral nalbuphine extended-release) for treating chronic cough in IPF, non-IPF ILD and RCC patients. The capital infusion also strengthens Trevi’s cash runway to support upcoming regulatory filings and commercialization planning.
3. Company Overview
Trevi Therapeutics is a clinical-stage biopharmaceutical company developing Haduvio™, the first investigational therapy to show statistically significant cough reduction in IPF and RCC trials. Haduvio acts as a kappa agonist and mu antagonist on opioid receptors, targeting both central and peripheral cough reflex pathways.