Trevi Therapeutics, Inc.

NASDAQ•TRVI

CEO: Ms. Jennifer L. Good

Sector: Healthcare

Industry: Biotechnology

Listing Date: 2019-05-07

Trevi Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems. The company is developing Haduvio, an oral extended-release formulation of nalbuphine, which is in phase 2b Cough Reduction in IPF with nalbuphine ER (CORAL) clinical trial for treatment of chronic cough in patients with IPF; phase 2a Refractory Chronic Cough Improvement Via NAL ER (RIVER) clinical trial for reducing chronic cough in RCC patients; phase 2 clinical trial in patients with pruritus; phase 2b/3 clinical trial in patients with prurigo nodularis. It has a license agreement with Endo Pharmaceuticals Inc. to develop and commercialize products incorporating nalbuphine hydrochloride in any formulation. The company was incorporated in 2011 and is headquartered in New Haven, Connecticut.

Contact Information

195 Church Street, 16th Floor, New Haven, CT, 06510, United States

203-304-2499

www.trevitherapeutics.com

Market Cap

$2.01B

P/E (TTM)

-45.1

22.9

Dividend Yield

52W High

$16.12

52W Low

$5.38

52W Range

82%

Rank62Top 92.6%

1.9

F-Score

Modified Piotroski Analysis

Based on 9-year fundamentals

Weak • 1.9 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2017-2025

Financial Dashboard

Q1 2026 Data

Revenue

$0.00+0.00%

4-Quarter Trend

EPS

-$0.09+0.00%

4-Quarter Trend

FCF

-$16.79M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Loss Narrows Significantly Net loss decreased $5.2M to $42.8M for 2025, reflecting reduced R&D spending versus prior year.

Strong Cash Position Maintained Cash and marketable securities reached $188.3M by year-end 2025, funding operations into 2028.

Positive Cough Trial Results Phase 2b CORAL trial achieved primary endpoint showing significant 24-hour cough frequency reduction.

Phase 3 Trials Scheduled FDA alignment secured; first pivotal Phase 3 trial for IPF-related cough set to initiate Q2 2026.

Risk Factors

Continued Operating Losses Expected Significant losses incurred since inception; substantial additional capital required to fund operations beyond 2028.

Sole Product Candidate Dependency Business success entirely dependent on Haduvio development, approval, and commercialization success across indications.

Clinical Trial Design Uncertainty Trial outcomes are uncertain; regulatory changes or enrollment difficulties could delay approval or increase costs.

Opioid Class Label Warning Nalbuphine carries opioid class warning; potential restrictive marketing/distribution regulations could harm profitability.

Outlook

Initiate Pivotal Phase 3 Studies Plan to initiate two pivotal Phase 3 trials for IPF chronic cough starting Q2 2026, running in parallel.

Expand Chronic Cough Development Adaptive Phase 2b trials planned for non-IPF ILD and RCC indications starting second half of 2026.

Complete NDA Supportive Testing Progressing remaining Phase 1 NDA supportive studies, including respiratory safety assessment, targeting completion mid-2026.

Maintain Intellectual Property Focus remains on maintaining, expanding, and protecting proprietary patent portfolio across key territories globally.

Peer Comparison

Revenue (TTM)

NVAX

$596.34M

-52.5%

ARDX

$427.68M

+18.2%

SNDX

$217.17M

+396.7%

Gross Margin (Latest Quarter)

NBTX

100.0%

+0.0pp

IMTX

100.0%

+0.0pp

WVE

100.0%

+0.0pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
TERN	$4.77B	-51.3	-20.0%	0.1%
SYRE	$4.44B	-141.7	-31.2%	0.0%
NBTX	$2.04B	-67.4	31.2%	140.7%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

N/M

Revenue Volatile

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Aug 6, 2026

EPS:-$0.10

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data