Trevi hits 4-year high as chronic cough therapy succeeds in study

Shares of therapy developer Trevi Therapeutics TRVI.O rise 40.5% to touch a four-year high of $6.04

Co says its therapy, Haduvio, met the main goal in a mid-stage trial testing in patients with a type of chronic cough

Currently, there are no approved treatments in the U.S. for coughing bouts that don't have an identifiable cause or those that persist despite treating underlying conditions

GSK GSK.L is developing a chronic cough treatment, and Merck has an experimental drug for the disease that faced two FDA rejections in the past

*Brokerage Raymond James upgrades its rating to "strong buy" from "outperform"

Up to last close, TRVI up 45.8% in the last 12 months