Trevi Therapeutics IncTRVI
Price$14.32

Qualitative Analysis

Business overview

Business Overview

Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of its sole investigational therapy, Haduvio (oral nalbuphine ER), for neurologically mediated conditions. The company's primary clinical focus is on treating chronic cough in patients with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough (RCC). Haduvio is an oral extended-release formulation of nalbuphine, designed to target both central and peripheral nervous system pathways to reduce the cough reflex. Trevi operates as a single reportable segment dedicated to the development of this therapeutic candidate.

Research as of 20 Jun 2026

Strategic Initiatives

Growth programs, investments, and their expected impact

AI-assisted
Clinical Development of Haduvio for IPF-Related Chronic CoughInnovation

Following alignment with the FDA during an End-of-Phase 2 meeting, Trevi is initiating a Phase 3 program consisting of two parallel clinical trials (approximately 300 and 130 patients) to evaluate the safety and efficacy of Haduvio (nalbuphine ER) for chronic cough in IPF.

Expected impact: Establish clinical efficacy and safety to support a future New Drug Application (NDA) submission.

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InvestmentA significant portion of the $173 million gross proceeds raised in the April 2026 public offering is allocated to fund these trials.
TimelineFirst Phase 3 trial expected to initiate in Q2 2026, with the second trial starting in H2 2026.
Pipeline Expansion in Refractory Chronic Cough (RCC) and non-IPF ILDGrowth

Expanding the clinical utility of Haduvio by initiating a Phase 2b trial in RCC and a Phase 2b trial in non-IPF ILD-related chronic cough to target broader patient populations with high unmet medical needs.

Expected impact: Broaden the addressable market and diversify clinical indications for the lead asset.

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InvestmentFunded through existing cash reserves and recent equity financing.
TimelineRCC Phase 2b trial targeted to start in Q2 2026; non-IPF ILD Phase 2b trial targeted to start in H2 2026.
Sources: 2
AI-assisted, source-linked narrative; figures from company filings (SEC EDGAR) and market data. Dates shown per section. Not investment advice. Terms of Use.