Trevi Therapeutics Inc. (TRVI), a clinical-stage biopharmaceutical company, announced on Thursday the pricing for an underwritten public offering of 11,600,000 shares of common stock at $13 per share.
Following the announcement, shares hit a 52-week high at $14.75.The company expects proceeds from the offering to amount to $150 million. Additionally, underwriters will have a 30-day option to purchase 1,740,000 shares at the public offering price. The public offering will close on April 20, 2026.
Trevi is currently developing an investigational therapy Haduvio (oral nalbuphine extended release) for treating chronic cough, which is associated with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (non-IPF ILD) and refractory chronic cough (RCC). It is the first and only investigational therapy showing statistically significant reductions in cough frequency through clinical trials for IPF and RCC.
TRVI has traded between $5.38 and $14.75 over the past year. The stock closed Thursday at $14.54, up 1.89%. In the pre-market trading at stock is at $13.88, down 4.54%.
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