Trevi Therapeutics Initiates Public Offering for Common Stock Funding

Trevi Therapeutics Launches Public Offering of Common Stock

Trevi Therapeutics, Inc., a biopharmaceutical company focused on developing innovative therapies for chronic conditions, has announced today the initiation of a public offering for common stock. This offering aims to raise $100 million and is aimed at funding further development of its investigational therapy, Haduvio™.

Overview of Trevi Therapeutics

Trevi Therapeutics, Inc. is a clinical-stage company working on Haduvio, an oral formulation of nalbuphine designed to treat chronic cough, specifically for individuals suffering from idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC). Haduvio targets the cough reflex by functioning both centrally and peripherally, acting as a kappa agonist and mu antagonist. It has the potential to provide relief in cases where conventional treatments have failed.

Details of the Public Offering

The public offering will encompass 100% of the shares being offered by Trevi itself. Alongside the primary offering, the underwriters have been granted a 30-day option to purchase up to an additional $15 million in shares at the public offering price, minus underwriting fees. This indicates a keen interest from underwriters who are key players in the financial market.

Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald have been appointed as joint book-running managers for this transaction. However, the offering is contingent upon market conditions and is subject to various uncertainties, meaning that its completion is not guaranteed.

The shares will be sold under a shelf registration statement on Form S-3, which has already been approved by the Securities and Exchange Commission (SEC). Detailed terms of the offering will be provided subsequently through a prospectus supplement.

Understanding Haduvio's Potential

The focus of Trevi Therapeutics’ research lies predominantly in the area of chronic cough management. With the unique action mechanism of Haduvio, there is hope for better management of symptoms associated with severe chronic cough, particularly among those who have few available options. As it is not classified under controlled substances by the Drug Enforcement Administration (DEA), it may have a unique position in the market.

Market Implications

The timing of this offering comes at a pivotal moment as Trevi continues to navigate the complexities of clinical trials and regulatory approvals. Investors will be keenly monitoring how market conditions evolve regarding this offering, as they could significantly influence Trevi’s financial positioning and future developments.

Conclusion

As Trevi Therapeutics progresses with this public offering, stakeholders, investors, and market analysts will be watching closely. With the promise of Haduvio on the horizon, there is a substantial interest in not just the financial implications of this offering but also the potential health impacts on patients suffering from chronic cough conditions. The next steps will be crucial as Trevi elaborates further on this opportunity both to enhance its financial foundation and to expand its therapeutic offerings.

For further details, interested parties should watch for updates on the SEC's website or contact the marketing managers listed in the prospectus. This offering represents a significant milestone for Trevi Therapeutics as it seeks to fulfill its mission of addressing unmet medical needs in chronic cough management.