# Trevi Therapeutics Q3 2026 Earnings Update

> Trevi Therapeutics reports cash runway extending into 2030 with key clinical trials advancing for chronic cough treatments.
- Title: Trevi Therapeutics Q3 2026 Earnings Update · The Motley Fool
- Summary: Trevi Therapeutics reports cash runway extending into 2030 with key clinical trials advancing for chronic cough treatments.
- Keywords: trevi therapeutics, trvi, q3 2026, earnings call, ipf, non-ipf-ild, chronic cough, haduvio, ocean-1, ocean-2, lake trial, ssre
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/11/10/trevi-therapeutics-trvi-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-11-10T06:27:10+00:00
- Read time: 2 min
- Topics: trevi therapeutics, trvi, q3 2026, earnings call, ipf, non-ipf-ild, chronic cough, haduvio, ocean-1, ocean-2, lake trial, ssre
## 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.
## Key takeaway

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.