Trevi Therapeutics (NASDAQ: TRVI) is a clinical-stage biopharmaceutical company developing treatments for chronic cough in patients with serious pulmonary and renal conditions. The company generates no product revenue as of the 10-K filed March 17, 2026, funding operations through equity issuances including at-the-market sales and private placements. Its lead candidate, Haduvio, is being evaluated for chronic cough associated with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (ILD), and renal cell carcinoma (RCC). The company expects its existing cash, cash equivalents, and marketable securities to fund planned Phase 3 trials in IPF-related chronic cough, a Phase 2b adaptive design trial in non-IPF ILD-related chronic cough, a Phase 2b trial in RCC, and Phase 1 NDA supportive studies into 2028. Jennifer L. Good serves as President and Chief Executive Officer, with David C. Hastings as Chief Financial Officer as of March 17, 2026.

Revenue model

No product revenue. Operations are funded through equity capital markets, including at-the-market common stock sales. Any future revenue is contingent on regulatory approval and potential commercialization of Haduvio or collaboration agreements with third parties.

Products and services

Haduvio: a drug candidate in clinical development for chronic cough in patients with IPF, non-IPF ILD, and RCC. Planned studies include Phase 3 trials (IPF-related chronic cough), a Phase 2b adaptive design trial (non-IPF ILD-related chronic cough), a Phase 2b trial (RCC), and Phase 1 NDA supportive studies, per the 10-K filed March 17, 2026.

Customers and end markets

Target end markets are patients with chronic cough associated with IPF, non-IPF ILD, and RCC. No commercial customers as of the 10-K filed March 17, 2026. The company is exploring potential collaboration partners for development and commercialization of Haduvio.

Value-chain role

Clinical-stage drug developer. Relies on contract research organizations for trial execution. Manufacturing of any approved product would require compliance with FDA and EU cGMP standards. No internal commercial manufacturing disclosed in the filing excerpts.

Geographic exposure

U.S.-incorporated company. Regulatory filings reference FDA requirements as well as EU regulatory frameworks including EMA, GDPR, and EU cGMP, indicating awareness of potential international development or approval pathways. No commercial geographic footprint disclosed.

Source: SEC 10-K, filed 2026-03-17

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