Key Highlights

  • The company reported a net loss of $21.5 million for the third quarter of 2026.
  • Trevi is enrolling patients across three active trials of Haduvio for chronic cough.
  • A Phase 2 dose-ranging trial in non-IPF interstitial lung disease is expected to start in the first quarter of 2027.
  • The company describes itself as clinical-stage.

Trevi Therapeutics, Inc. (NASDAQ:TRVI) reported a net loss of $21.5 million for the third quarter of 2026. The New Haven, Connecticut-based clinical-stage biopharmaceutical company is developing Haduvio, an oral form of nalbuphine extended-release, for chronic cough.

Clinical Progress

The trials address chronic cough in patients with idiopathic pulmonary fibrosis, non-IPF interstitial lung disease and refractory chronic cough.

Good said the company recently aligned with the U.S. Alignment with the regulator on trial design is a milestone that can reduce uncertainty about the path to later stages of development.

Mechanism and Market Need

The company linked the condition to respiratory hospitalizations in the patient populations it is studying, and those factors help frame the potential clinical value of the therapy, which must still be established through trials.

Financial Position and Spending

Chronic cough is a symptom that can persist for months or years and can reduce quality of life, sleep and daily activity. Its three active trials cover distinct patient groups, which allows the company to test the therapy across different disease settings rather than in a single population.

Final Word

Regulatory alignment on the non-IPF interstitial lung disease program and the planned Phase 2 start in early 2027 mark the next stage of development.