Trevi Therapeutics Q4 net loss narrows on lower R&D costs

Overview

• U.S. biopharma firm's Q4 net loss narrowed yr/yr on lower R&D expenses

• Company ended 2025 with $188.3 mln in cash and projects runway into 2028

Outlook

• Company plans to initiate first Phase 3 trial for IPF-related chronic cough in Q2 2026

• Company anticipates cash runway into 2028

Result Drivers

• LOWER R&D SPENDING - Q4 R&D expenses fell due to decreased clinical development costs for the Phase 2a RIVER and Phase 2b CORAL trials, which were actively enrolling in the prior year period

• HIGHER G&A EXPENSES - Q4 G&A expenses rose due to increased professional fees and personnel-related costs

• INCREASED INTEREST INCOME - Other income rose due to higher interest income from larger cash and marketable securities balances

Company press release: ID:nGNX87yCZd

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Trevi Therapeutics Inc is $21.00, about 88.2% above its March 16 closing price of $11.16

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