Trevi Therapeutics Secures $115 Million in Public Stock Offering
Trevi Therapeutics Completes a Successful $115 Million Offering
Trevi Therapeutics, Inc. (NASDAQ: TRVI), a forefront player in the biopharmaceutical industry, proudly announces the completion of its remarkable underwritten public stock offering. This move showcases the company’s unwavering commitment to advancing its innovative therapeutic solution, Haduvio™. The offering raised approximately $115.1 million, marking a pivotal moment for Trevi's initiatives against chronic cough conditions.
Details of the Offering
In this public offering, Trevi issued a total of 20,010,000 shares of common stock priced at $5.75 each. This figure accounts for an additional 2,610,000 shares acquired as a result of the full exercise of the underwriters' option to purchase extra shares. All proceeds from this event are allocated toward supporting ongoing clinical investigations and enhancing operations for the company’s promising investigational therapy, Haduvio™.
Key Financial Partners
The offering witnessed strategic collaboration with key financial partners. Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald acted as joint book-running managers to facilitate this successful transaction, showcasing their commitment to aiding Trevi's mission in the biopharmaceutical arena.
Using Funds to Propel Future Growth
The substantial capital raised will empower Trevi Therapeutics to accelerate the development of Haduvio™, designed specifically for treating chronic cough in patients afflicted with idiopathic pulmonary fibrosis (IPF) and those suffering from refractory chronic cough. As the only company developing this unique therapy, Trevi is well-positioned to make significant strides in these challenging areas of medicine.
Expanded Research and Development
Haduvio™ employs a dual mechanism; it acts both centrally and peripherally on the cough reflex, making it a groundbreaking opioid receptor modulator. By functioning as a kappa agonist and a mu antagonist (collectively termed KAMA), Haduvio targets critical opioid receptors that influence the sensation and management of chronic cough. Its development is propelling forward thanks to new funds, which will aid in broader clinical trials and potentially expedite its path to market.
Regulatory Framework and Future Steps
This phase comes under the backdrop of careful planning and compliance, with the shares being offered through a shelf registration statement that had received official clearance from the Securities and Exchange Commission (SEC). The thorough review of the offering ensures all terms and conditions align with regulatory standards, showcasing Trevi's dedication to transparent and responsible corporate governance.
Engaging Stakeholders
Trevi encourages its stakeholders, investors, and interested parties to remain engaged. Final terms of the offering are accessible via a detailed prospectus supplement which Trevi filed with the SEC. Moreover, shareholders can expect to see continued updates as Trevi embarks on its ambitious endeavors in developing new treatment protocols.
About Trevi Therapeutics, Inc.
Trevi Therapeutics, Inc. stands at the cutting edge of biopharmaceutical development, focusing on therapies for unmet medical needs. Their flagship product, Haduvio™, targets serious conditions like chronic cough associated with IPF and RCC. With a distinct formulation, Haduvio significantly benefits patients by providing a novel approach to managing chronic cough symptoms. Nalbuphine, as an active ingredient, remains outside the constraints of the U.S. Drug Enforcement Agency, ensuring better accessibility for patients seeking relief.
Contact Information for Investors and Media
For investors seeking further information, Jonathan Carlson from Trevi Therapeutics can be reached at (203) 654 3286. Media inquiries can be directed to Rosalia Scampoli at 914-815-1465. Both representatives remain at the forefront of facilitating communication concerning the company's strategic goals and operational progress.
Frequently Asked Questions
What was the total amount raised in Trevi's recent offering?
Trevi Therapeutics raised approximately $115.1 million in their latest public offering.
What will the funds from the offering be used for?
The proceeds are designated for advancing the clinical development of Haduvio™ and enhancing the company’s operational capabilities.
Who were the financial partners in this offering?
Morgan Stanley, Leerink Partners, Stifel, and Cantor Fitzgerald acted as joint book-running managers for this transaction.
What is Haduvio™ and its significance?
Haduvio™ is Trevi's investigational therapy aimed at treating chronic cough in patients with conditions like IPF and RCC, utilizing a unique mechanism that affects opioid receptors.
How can stakeholders stay informed about Trevi Therapeutics?
Stakeholders can access updates and detailed information through the SEC filings and are encouraged to contact investor relations for more personalized information.
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