Trevi Therapeutics raises $162M, extends cash runway to 2030, advances chronic cough drug trials.

Trevi Therapeutics completed a $162 million stock offering, extending its cash runway into 2030 to support ongoing development of Haduvio for chronic cough related to IPF, non-IPF ILD, and refractory chronic cough. The company plans to initiate multiple clinical trials in 2026, including Phase 3 trials for IPF-related chronic cough and Phase 2b trials for RCC and non-IPF ILD-related cough. With recent FDA alignment and a new European patent, Trevi is positioned to advance toward potential FDA approval. Financially, the company reported a net loss of $13.2 million for Q1 2026, with increased R&D and administrative expenses reflecting clinical progress.