Trevi Therapeutics up after $100 mln equity raise

Trevi Therapeutics

04/06/2025 11:50

** 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

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))