Trevi Therapeutics steadies after pricing $55 mln stock offering

Trevi Therapeutics

23/09/2022 11:36

** Trevi Therapeutics Inc's  TRVI.O  shares flat premarket
after follow-on prices
    ** Co sells 28.5 mln shares, including pre-funded warrants,
at $1.93  urn:newsml:reuters.com:*:nPn20f8kqa
    ** TRVI closed at $1.94 on Thurs and has shed about 40%
since co early Mon reported its drug to treat chronic cough in
patients with lung diseases met main goal in mid-stage study
 urn:newsml:reuters.com:*:nL4N30Q1XR  urn:newsml:reuters.com:*:nPn3YJb3Ta
    ** Co has ~42.77 mln shares outstanding for ~$83 mln market
cap, per Refinitiv data
    ** At end-Jun, co had ~$25 mln of cash/cash equivalents and
~$53 mln of marketable securities, per 10-Q filing
    ** SVB Secs and Oppenheimer jt bookrunners for offering
    ** YTD, shares up 147%
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))