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Trevi Therapeutics (TRVI) investor relations material
Trevi Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Positive data from CORAL (IPF) and RIVER (RCC) trials in chronic cough presented at major conferences, generating significant interest among pulmonologists and investigators.
Preparing to initiate Phase 3 in IPF chronic cough and Phase 2b in RCC in the first half of 2026, following regulatory engagement and positive clinical results.
Ended Q3 2025 with $194.9 million in cash, cash equivalents, and marketable securities, providing a cash runway into 2028.
Focused on specialty indications in chronic cough with no approved therapies in the U.S., targeting significant unmet medical needs.
No approved products or revenue to date; all R&D focused on Haduvio for chronic cough in IPF, non-IPF ILD, and RCC.
Financial highlights
Net loss for Q3 2025 was $11.8 million, improved from $13.2 million in Q3 2024.
R&D expenses decreased to $10.1 million from $11.2 million year-over-year, reflecting lower clinical trial activity.
G&A expenses increased to $3.8 million from $2.9 million, mainly due to higher professional fees and SOX 404(b) compliance preparation.
Cash, cash equivalents, and marketable securities totaled $194.9 million as of September 30, 2025, supporting planned clinical programs through 2028.
Other income, net, rose to $2.1 million from $0.8 million, primarily due to increased interest income.
Outlook and guidance
Planning to initiate Phase 3 program in IPF chronic cough and Phase 2b in RCC in the first half of 2026, pending regulatory alignment.
Preparing to launch a study in non-IPF ILD after regulatory alignment, potentially doubling the market opportunity.
Cash runway expected to last into 2028, supporting ongoing and planned clinical programs.
Additional capital will be required to fund Haduvio through regulatory approval and commercialization.
Rationale for non-IPF ILD FDA meeting timing
Explain RCC Phase IIb dosing strategy
Detail remaining DDI study requirements
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Next Trevi Therapeutics earnings date
Q4 202518 Mar, 2026
Next Trevi Therapeutics earnings date
Q4 202518 Mar, 2026
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Frequently asked questions
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for serious neurological conditions. The company's lead therapeutic candidate targets chronic pruritus (itching) and other disorders related to the central and peripheral nervous systems. Trevi's drug development efforts aim to address unmet needs in conditions where current therapies are limited or ineffective. The company serves the healthcare sector, particularly in neurology and dermatology, with a focus on advancing innovative solutions for challenging medical conditions. The company is headquartered in New Haven, Connecticut, and its shares are listed on the NASDAQ.
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