Trevi Therapeutics up after $100 mln equity raise

Trevi Therapeutics' TRVI.O shares up 1.2% premarket to $6.02 after securing equity raise

New Haven, Connecticut-based co late Tues sold 17.4 mln shares at $5.75 for $100 mln gross raise

Offering priced at 3.4% discount to last sale

TRVI shares on Tues fell 5.8% after co late Mon launched the offering

Morgan Stanley. Leerink, Stifel and Cantor are jt bookrunners

Before the bell on Mon, co announced positive topline results from Phase II trial of its therapy, Haduvio, for patients with a type of chronic cough, and said plans Phase III initiation in 2026

Based on 101.7 mln shares outstanding as of Apr 30, according to latest 10-Q filing, co has $605 mln market cap

Through Tues, shares up ~44% YTD

All 9 analysts covering TRVI are bullish with median PT of $21, according to latest LSEG data