Trevi Therapeutics Secures $50 Million Funding Through Stock Offering
Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company focusing on innovating treatments, has announced a significant financial step by pricing a new stock offering. The offering comprises 12.5 million shares of common stock, priced at $4.00 per share, summing up to an impressive $50 million. This capital infusion aims to support their investigational therapy, Haduvio™ (oral nalbuphine ER), which is in development for treating chronic cough associated with idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC).
The announcement detailed that all the shares sold in this offering will come directly from Trevi itself. The financing has garnered participation from a mix of new and existing investors, indicating a good level of confidence in the company's future prospects. Notable participants include Adage Capital Partners LP, Frazier Life Sciences, Logos Capital, MPM BioImpact, Rubric Capital Management, and Vivo Capital.
The offering is poised to close on December 17, 2024, pending the satisfaction of typical closing conditions expected in such transactions. Leerink Partners, Stifel, and Oppenheimer & Co. are serving as the joint book-running managers for this offering, while Needham Company is acting as the lead manager, with Jones and B. Riley Securities participating as co-managers.
This funding comes at a critical time when Trevi is advancing its clinical trials and expanding its pipeline towards offering improved therapies for patients affected by chronic cough related to IPF and RCC. Haduvio, with its unique mechanism of action, has the potential to offer substantial relief to patients suffering from these challenging respiratory conditions. The drug works by targeting the cough reflex system both centrally and peripherally, engaging specific opioid receptors to reduce cough sensitivity without the high potential for abuse associated with traditional narcotics. Notably, nalbuphine, the active ingredient in Haduvio, is not currently scheduled by the U.S. Drug Enforcement Administration, further aiding its development and market potential.
In regulatory terms, Trevi’s shares are offered under a shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (SEC). The offering is made solely through a prospectus supplement, which will aid investors by detailing wire transfer and other necessary investment protocols. Interested parties will be able to obtain copies of the prospectus and supplemental documents through the brokers involved in the offering.
This press release serves as a significant indicator of Trevi Therapeutics’ ongoing commitment to addressing unmet medical needs within the realm of chronic cough, enabling access to necessary therapies for patients who currently struggle with limited options. Trevi Therapeutics remains focused on its vision of innovating treatments that can enhance the quality of life for those affected by chronic conditions. As outlined in the press release, the forward-looking statements made herein reflect the company's anticipation and plans moving forward while emphasizing that actual results could vary due to various risks inherent in the biopharmaceutical industry.
The implications of this stock offering and the ensuing funding can galvanize Trevi Therapeutics’ operational abilities and bolster its endeavors to bring Haduvio and other potential therapies to the market, marking a pivotal growth phase for the company. Investors and stakeholders remain hopeful as Trevi embarks on this journey, aiming to transform the treatment landscape for chronic cough disorders.
The announcement detailed that all the shares sold in this offering will come directly from Trevi itself. The financing has garnered participation from a mix of new and existing investors, indicating a good level of confidence in the company's future prospects. Notable participants include Adage Capital Partners LP, Frazier Life Sciences, Logos Capital, MPM BioImpact, Rubric Capital Management, and Vivo Capital.
The offering is poised to close on December 17, 2024, pending the satisfaction of typical closing conditions expected in such transactions. Leerink Partners, Stifel, and Oppenheimer & Co. are serving as the joint book-running managers for this offering, while Needham Company is acting as the lead manager, with Jones and B. Riley Securities participating as co-managers.
This funding comes at a critical time when Trevi is advancing its clinical trials and expanding its pipeline towards offering improved therapies for patients affected by chronic cough related to IPF and RCC. Haduvio, with its unique mechanism of action, has the potential to offer substantial relief to patients suffering from these challenging respiratory conditions. The drug works by targeting the cough reflex system both centrally and peripherally, engaging specific opioid receptors to reduce cough sensitivity without the high potential for abuse associated with traditional narcotics. Notably, nalbuphine, the active ingredient in Haduvio, is not currently scheduled by the U.S. Drug Enforcement Administration, further aiding its development and market potential.
In regulatory terms, Trevi’s shares are offered under a shelf registration statement on Form S-3, filed with the Securities and Exchange Commission (SEC). The offering is made solely through a prospectus supplement, which will aid investors by detailing wire transfer and other necessary investment protocols. Interested parties will be able to obtain copies of the prospectus and supplemental documents through the brokers involved in the offering.
This press release serves as a significant indicator of Trevi Therapeutics’ ongoing commitment to addressing unmet medical needs within the realm of chronic cough, enabling access to necessary therapies for patients who currently struggle with limited options. Trevi Therapeutics remains focused on its vision of innovating treatments that can enhance the quality of life for those affected by chronic conditions. As outlined in the press release, the forward-looking statements made herein reflect the company's anticipation and plans moving forward while emphasizing that actual results could vary due to various risks inherent in the biopharmaceutical industry.
The implications of this stock offering and the ensuing funding can galvanize Trevi Therapeutics’ operational abilities and bolster its endeavors to bring Haduvio and other potential therapies to the market, marking a pivotal growth phase for the company. Investors and stakeholders remain hopeful as Trevi embarks on this journey, aiming to transform the treatment landscape for chronic cough disorders.
Topics Health）
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