Trevi says $299.4m lasts into 2030 as Haduvio Phase 3 cough trial begins

Trevi Therapeutics ended the third quarter of 2026 with $299.4m in cash and says that is enough to fund operations into 2030. The company reported a net loss of $21.5m for the three months, announcing the figures on 9 November.

The money is backing a pipeline built around one asset, Haduvio, an oral extended-release formulation of nalbuphine. Trevi has begun OCEAN-2, a Phase 3 trial in chronic cough linked to idiopathic pulmonary fibrosis (IPF). The material reviewed gave no detail on the trial's design, endpoints or readout timing, so the timing of any pivotal data is not yet clear.

Trevi is also seeking to widen the drug's potential patient pool. After a meeting with the US Food and Drug Administration (FDA), the company said it had aligned with the agency on its plan for cough in interstitial lung disease (ILD) other than IPF. It intends to start a dose-ranging Phase 2 study of about 120 patients in the first quarter of 2027.

On intellectual property, the US Patent and Trademark Office has allowed claims covering how Haduvio is dosed in patients with hepatic impairment. The patent itself will follow once formalities are completed, and it is expected to run until 2041.