Trevi Therapeutics Stock Earnings Reports

Trevi Therapeutics provided a focused Q1 2026 update emphasizing clinical execution and a strengthened financial position. Management reported a positive FDA End-of-Phase-II meeting for the IPF-related chronic cough program, finalized Phase III protocols, and expects to initiate the first pivotal IPF-related chronic cough study this quarter and the second later in 2026. They plan to seek FDA alignment on an adaptive Phase II/III design for a non-IPF-ILD chronic cough program and aim to start that trial in H2 2026 if agreed with the agency. A Phase IIb dose-ranging RCC (refractory chronic cough) trial with three doses plus placebo was submitted to regulators and is expected to begin this quarter; it includes a sample size reestimation (SSRE) with a planned readout at 50% completion (expected Q4 2026). Management highlighted recent strengthening of the IP portfolio (core method-of-treatment patent for IPF-related chronic cough issued in Europe and the U.S., providing protection through 2039, with additional U.S. filings that could extend coverage to 2046) and described ongoing filings to build label-enabling patents. Financially, Trevi ended Q1 with ~$172M in cash and excluded $162M net proceeds from an April 2026 common stock offering; management said the raise removes financial overhang at key clinical milestones and extends runway into 2030, funding planned development (including potential through FDA approval for IPF-related chronic cough) and pre-commercial activities (but not launch expenses). Management reiterated upcoming investor events (Investor & Analyst Day and ATS presentations) and confidence in execution, site selection and enrollment plans across programs.