Trevi Therapeutics(US:TRVI)2025-11-13 21:08Financial Performance - Trevi Therapeutics ended Q3 2025 with $194.9 million in cash, cash equivalents, and marketable securities, providing a cash runway into 2028[5]. - R&D expenses decreased to $10.1 million in Q3 2025 from $11.2 million in Q3 2024, primarily due to reduced clinical development expenses[6]. - G&A expenses increased to $3.8 million in Q3 2025 from $2.9 million in Q3 2024, mainly due to higher professional fees and personnel-related expenses[7]. - Net loss for Q3 2025 was $11.8 million, an improvement from a net loss of $13.2 million in Q3 2024[8]. Clinical Development - The company is preparing to initiate a comprehensive Phase 3 program for chronic cough in patients with idiopathic pulmonary fibrosis in the first half of 2026[1]. - Trevi Therapeutics plans to submit an End-of-Phase 2 meeting request to the FDA in Q4 2025[2]. - The Phase 1 safety study for IPF patients showed no safety signals, allowing for the completion of enrollment[3]. - Topline results from the Phase 2b CORAL trial were presented at the CHEST 2025 Annual Meeting[4]. - The company intends to initiate a Phase 2b study for refractory chronic cough in the first half of 2026 following positive Phase 2a RIVER trial results[10]. Market Opportunity - There are approximately 150,000 U.S. patients with IPF, with two-thirds experiencing uncontrolled chronic cough, highlighting a significant unmet medical need[12].