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Trevi Therapeutics Q3 2026 Earnings Update
Trevi Therapeutics reports cash runway extending into 2030 with key clinical trials advancing for chronic cough treatments.
In brief
Trevi Therapeutics reports cash runway extending into 2030 with key clinical trials advancing for chronic cough treatments. Trevi Therapeutics has a cash runway extending into 2030 to fund lead clinical programs for chronic cough treatments in IPF and non-IPF-ILD indications. Originally reported by The Motley Fool.
Cash Position Update
Trevi Therapeutics reported $299.4 million in cash and marketable securities as of Sept. 30, 2026, up from $188.3 million at the end of 2025.
Cash Runway Extension
Management stated cash runway extends into 2030, sufficient to fund lead clinical programs through potential FDA approval.
Q3 Net Loss
Trevi reported a $21.5 million net loss for Q3 2026, up from $11.8 million in Q3 2025, driven by increased clinical trial expenditures.
R&D Expenses
Research and development expenses reached $19.1 million in Q3 2026, up from $10.1 million due to OCEAN-1, OCEAN-2, and LAKE clinical trials.
G&A Expenses
General and administrative expenses increased to $5.4 million in Q3 2026 from $3.8 million, driven by higher personnel costs and stock-based compensation.
OCEAN-2 Trial
OCEAN-2 Phase III trial top-line results expected in second half of 2027 for chronic cough in IPF patients.
OCEAN-1 Trial
OCEAN-1 Phase III trial top-line results anticipated in first half of 2028 for chronic cough efficacy and safety in IPF patients.
LAKE Trial
LAKE Phase IIb trial SSRE results expected in early first quarter of 2027 to confirm trial powering for chronic cough patients.
Non-IPF-ILD Trial
Non-IPF-ILD Phase II trial initiation planned for first quarter of 2027 targeting approximately 120 patients to confirm optimal dosing.
Market Opportunity
Approximately 1 million U.S. patients with severe refractory chronic cough represent the target population for Haduvio.
Intellectual Property
New patent extends protection for non-IPF-ILD indication until 2041 through nalbuphine ER dosing in hepatically impaired patients.
LAKE Trial Scale
LAKE trial conditional power range of 40% to 80% would result in enrollment increase of four to 52 patients to ensure statistical significance.
Severe Cough Impact
Patients with target populations experience up to 1,500 coughs per day, leading to higher risks of morbidity and hospitalization.
FDA Alignment
Trevi aligned with FDA on development pathway for non-IPF-ILD-related chronic cough, utilizing Phase II dose-ranging study.
Commercial Rights
Jennifer Good stated company intends to retain global commercial rights for Haduvio after FDA discussions.
SSRE Outcomes
LAKE trial SSRE will yield one of three outcomes: maintain current enrollment, upsize proportionally, or indicate futility.
Here's the gist
Trevi Therapeutics has a cash runway extending into 2030 to fund lead clinical programs for chronic cough treatments in IPF and non-IPF-ILD indications.
