2019 Q4 Form 10-K Financial Statement
#000156459021015506 Filed on March 25, 2021
Income Statement
| Concept | 2019 Q4 | 2019 | 2018 Q4 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $1.940M | $7.310M | $1.410M |
| YoY Change | 37.59% | 68.43% | 127.42% |
| % of Gross Profit | |||
| Research & Development | $4.820M | $19.34M | $4.520M |
| YoY Change | 6.64% | 37.44% | 182.5% |
| % of Gross Profit | |||
| Depreciation & Amortization | $10.00K | $39.00K | $10.00K |
| YoY Change | 0.0% | 69.57% | |
| % of Gross Profit | |||
| Operating Expenses | $6.770M | $26.65M | $5.930M |
| YoY Change | 14.17% | 89.35% | 167.12% |
| Operating Profit | |||
| YoY Change | |||
| Interest Expense | $230.0K | $792.0K | $40.00K |
| YoY Change | 475.0% | 355.17% | -125.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | $577.0K | -$140.0K |
| YoY Change | -100.0% | -125.52% | |
| Pretax Income | -$6.540M | -$26.07M | -$6.030M |
| YoY Change | 8.46% | 26.12% | 152.3% |
| Income Tax | $0.00 | -$18.00K | -$50.00K |
| % Of Pretax Income | |||
| Net Earnings | -$6.540M | -$26.05M | -$5.980M |
| YoY Change | 9.36% | 26.79% | 151.26% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$365.4K | -$2.219M | -$387.3K |
| COMMON SHARES | |||
| Basic Shares Outstanding | |||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q4 | 2019 | 2018 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $57.31M | $57.31M | $7.200M |
| YoY Change | 695.97% | 695.97% | |
| Cash & Equivalents | $57.31M | $57.31M | $7.202M |
| Short-Term Investments | |||
| Other Short-Term Assets | $1.680M | $1.680M | $1.440M |
| YoY Change | 16.67% | 16.67% | |
| Inventory | |||
| Prepaid Expenses | $1.681M | $1.438M | |
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $59.55M | $59.55M | $8.824M |
| YoY Change | 574.89% | 575.17% | |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $118.0K | $430.0K | $149.0K |
| YoY Change | -20.81% | 186.67% | |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $20.00K | $20.00K | $1.550M |
| YoY Change | -98.71% | -98.71% | |
| Total Long-Term Assets | $449.0K | $450.0K | $1.702M |
| YoY Change | -73.62% | -73.68% | |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $59.55M | $59.55M | $8.824M |
| Total Long-Term Assets | $449.0K | $450.0K | $1.702M |
| Total Assets | $60.00M | $60.00M | $10.53M |
| YoY Change | 470.03% | 469.8% | |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.599M | $1.600M | $603.0K |
| YoY Change | 165.17% | 166.67% | |
| Accrued Expenses | $3.501M | $3.300M | $2.073M |
| YoY Change | 68.89% | 65.0% | |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | ||
| YoY Change | |||
| Total Short-Term Liabilities | $5.199M | $5.200M | $2.676M |
| YoY Change | 94.28% | 94.03% | |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $1.100M |
| YoY Change | -100.0% | -100.0% | |
| Other Long-Term Liabilities | $260.0K | $260.0K | $510.0K |
| YoY Change | -49.02% | -49.02% | |
| Total Long-Term Liabilities | $260.0K | $260.0K | $1.610M |
| YoY Change | -83.85% | -83.85% | |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $5.199M | $5.200M | $2.676M |
| Total Long-Term Liabilities | $260.0K | $260.0K | $1.610M |
| Total Liabilities | $5.460M | $5.460M | $4.280M |
| YoY Change | 27.57% | 27.57% | |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$114.2M | -$109.5M | |
| YoY Change | 4.31% | ||
| Common Stock | $18.00K | $4.000K | |
| YoY Change | 350.0% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $54.55M | $54.55M | -$109.5M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $60.00M | $60.00M | $10.53M |
| YoY Change | 470.03% | 469.8% |
Cashflow Statement
| Concept | 2019 Q4 | 2019 | 2018 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$6.540M | -$26.05M | -$5.980M |
| YoY Change | 9.36% | 26.79% | 151.26% |
| Depreciation, Depletion And Amortization | $10.00K | $39.00K | $10.00K |
| YoY Change | 0.0% | 69.57% | |
| Cash From Operating Activities | -$6.200M | -$23.09M | -$4.730M |
| YoY Change | 31.08% | 26.27% | 66.55% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $9.000K | -$90.00K |
| YoY Change | -100.0% | -94.3% | 800.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | $0.00 | -$9.000K | -$90.00K |
| YoY Change | -100.0% | -94.3% | 800.0% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 0.000 | 73.21M | -1.510M |
| YoY Change | -100.0% | 1917.44% | -18.38% |
| NET CHANGE | |||
| Cash From Operating Activities | -6.200M | -23.09M | -4.730M |
| Cash From Investing Activities | 0.000 | -9.000K | -90.00K |
| Cash From Financing Activities | 0.000 | 73.21M | -1.510M |
| Net Change In Cash | -6.200M | 50.11M | -6.330M |
| YoY Change | -2.05% | -438.18% | 34.68% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$6.200M | -$23.09M | -$4.730M |
| Capital Expenditures | $0.00 | $9.000K | -$90.00K |
| Free Cash Flow | -$6.200M | -$23.10M | -$4.640M |
| YoY Change | 33.62% | 25.23% | 63.96% |
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<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;color:#000000;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><font style="font-weight:normal;"></font>Nature of the Business </p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Trevi Therapeutics, Inc. (“Trevi” or the “Company”) is a clinical-stage biopharmaceutical company focused on the development and commercialization of Haduvio (nalbuphine ER) to treat serious neurologically mediated conditions. The Company is currently developing Haduvio for the treatment of chronic pruritus associated with prurigo nodularis and chronic cough in patients with idiopathic pulmonary fibrosis (“IPF”). The Company is also in the planning stages for developing Haduvio in levodopa-induced dyskinesia (“LID”) in patients with Parkinson’s disease. These conditions share a common pathophysiology that is mediated through opioid receptors in the central and peripheral nervous systems. Due to nalbuphine’s mechanism of action as a modulator of opioid receptors, the Company believes Haduvio has the potential to be effective in treating each of these conditions. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Haduvio is an oral extended release formulation of nalbuphine. Nalbuphine is a mixed κ-opioid receptor agonist and μ-opioid receptor antagonist that has been approved and marketed as an injectable for pain indications for more than 20 years in the United States and Europe. The κ- and μ-opioid receptors are known to be critical mediators of itch, cough and certain movement disorders. Nalbuphine’s mechanism of action also mitigates the risk of abuse associated with μ-opioid agonists because it antagonizes, or blocks, the μ-opioid receptor. Nalbuphine is currently the only opioid approved for marketing that is not classified as a controlled substance in the United States and most of Europe. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 22, 2019, the Company filed an amendment to the Company’s amended and restated certificate of incorporation to effect a one-for-9.5 reverse stock split of the Company’s common stock, which resulted in a proportional adjustment to the existing conversion ratios for each series of the Company’s redeemable convertible preferred stock. Accordingly, all share and per share amounts in the Consolidated Financial Statements have been retrospectively adjusted, where applicable, to reflect the effect of the reverse stock split and adjustments of the redeemable convertible preferred stock conversion for all periods presented. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business. Since inception, the Company has financed its operations primarily through private placements of its redeemable convertible preferred stock and convertible notes as well as borrowings under term loan facilities, with proceeds from the Company’s initial public offering (“IPO”) and concurrent private placement completed in May 2019 and with sales of common stock under the Company’s sales agreement with SVB Leerink LLC (the “ATM Sales Agreement”). The Company has incurred recurring losses since inception, including net losses attributable to the Company of $32.8 million and $26.1 million for the years ended December 31, 2020 and 2019, respectively. In addition, as of December 31, 2020, the Company had an accumulated deficit of $147.0 million. The Company expects to continue to generate operating losses for the foreseeable future. As of March 25, 2021, the issuance date of these Consolidated Financial Statements, the Company expects that its cash and cash equivalents of $45.0 million as of December 31, 2020, in addition to proceeds from the ATM Sales Agreement subsequent to December 31, 2020, will be sufficient to fund its operating expenses and capital expenditure requirements through at least 12 months from the date of issuance of these Consolidated Financial Statements.</p> | |
| CY2019Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
77000 | |
| CY2020Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
562000 | |
| CY2020 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:18pt;margin-bottom:0pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of the expenses during the reporting periods. Significant estimates and assumptions reflected in these Consolidated Financial Statements include, but are not limited to the recognition of research and development expenses (“R&D”) and the valuation of redeemable convertible preferred stock, common stock and stock-based awards. On an ongoing basis, management evaluates its estimates in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. </p> | |
| CY2019Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
491000 | |
| CY2020Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
108000 | |
| CY2020Q4 | trvi |
Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
|
333000 | |
| CY2019Q4 | trvi |
Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
|
1113000 | |
| CY2020 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | |
| CY2019 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | |
| CY2019Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
one-for-9.5 | |
| CY2018 | trvi |
Loan Success Fee Payable
LoanSuccessFeePayable
|
460000 | |
| CY2019Q2 | trvi |
Loan Success Fee Payable
LoanSuccessFeePayable
|
675000 | |
| CY2020 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | |
| CY2019 | us-gaap |
Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
|
0 | |
| CY2020 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
0 | |
| CY2020 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
| CY2020 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2020Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
293000 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.20 | |
| CY2020Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
36000 | |
| CY2020Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.130 | |
| CY2020 | trvi |
Number Of New Leases
NumberOfNewLeases
|
0 | |
| CY2020Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
257000 | |
| CY2019Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
356000 | |
| CY2020Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
138000 | |
| CY2020Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
131000 | |
| CY2020Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
24000 | |
| CY2020 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
138000 | |
| CY2019 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
125000 | |
| CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
235000 | |
| CY2019Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
203000 | |
| CY2020Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
132000 | |
| CY2019Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
85000 | |
| CY2020Q4 | trvi |
Accrued Research And Development Liabilities
AccruedResearchAndDevelopmentLiabilities
|
1754000 | |
| CY2020Q4 | trvi |
Accrued Consulting And Professional Fees
AccruedConsultingAndProfessionalFees
|
560000 | |
| CY2019Q4 | trvi |
Accrued Consulting And Professional Fees
AccruedConsultingAndProfessionalFees
|
338000 | |
| CY2019Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
776000 | |
| CY2020Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
158000 | |
| CY2020 | trvi |
Loan Success Fee Payable Fairvalue
LoanSuccessFeePayableFairvalue
|
0 | |
| CY2019 | trvi |
Loan Success Fee Payable Fairvalue
LoanSuccessFeePayableFairvalue
|
0 | |
| CY2020 | trvi |
Non Cash Charge
NonCashCharge
|
0 | |
| CY2019 | trvi |
Non Cash Charge
NonCashCharge
|
215000 | |
| CY2020Q4 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
3646200 | |
| CY2019Q4 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
2778812 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1675226 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
764583 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
163463 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
86526 | |
| CY2020 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
18343 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2171477 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1009847 | |
| CY2020Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
1161630 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
5.11 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
7.77 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
9.18 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.82 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.62 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.67 | |
| CY2020Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
6.44 | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y9M18D | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y6M | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y | |
| CY2020 | trvi |
Sharebased Compensation Arrangement By Share Based Payment Award Options Unvested Weighted Average Contractual Term
SharebasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedWeightedAverageContractualTerm
|
P8Y9M18D | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
864000 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
185000 | |
| CY2020Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
185000 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.68 | |
| CY2017 | trvi |
Preferred Stock Risk Free Rate
PreferredStockRiskFreeRate
|
0.0195 | |
| CY2020 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y6M | |
| CY2019Q2 | us-gaap |
Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
|
10381234 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
5.06 | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
2200000 | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
688000 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
81000 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
105000 | |
| CY2017 | trvi |
Preferred Stock Volatility Rate
PreferredStockVolatilityRate
|
0.780 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.012 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.020 | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.815 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.787 | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y9M18D | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
| CY2020Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
4400000 | |
| CY2013Q4 | us-gaap |
Share Price
SharePrice
|
1.00 | |
| CY2020 | us-gaap |
Convertible Preferred Stock Settlement Terms
ConvertiblePreferredStockSettlementTerms
|
In addition, TPG had the right to purchase, on the same terms and conditions as the Series B Initial Closing, including the $1.15 per share purchase price, the lesser of 4,347,826 additional shares of Series B Preferred Stock and the number of shares equal to 25% of the total number of shares it previously purchased for cash under the Series B Purchase | |
| CY2019Q2 | us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.06 | |
| CY2017 | trvi |
Preferred Stock Weighted Estimated Maturity Term
PreferredStockWeightedEstimatedMaturityTerm
|
P2Y8M15D | |
| CY2019Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
1 | |
| CY2018 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
1 | |
| CY2020 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
holders of common stock on any matter presented to the stockholders of the Company for their action or consideration at any meeting of stockholders of the Company (or by written consent of stockholders in lieu of a meeting), and each holder of outstanding shares of redeemable convertible preferred stock was entitled to cast the number of votes equal to the number of whole shares of common stock into which the shares of redeemable convertible preferred stock held by such holder were convertible as of the record date for determining stockholders entitled to vote on the matter | |
| CY2019 | trvi |
Cost Incurred For Health Care And Life Insurance Benefits
CostIncurredForHealthCareAndLifeInsuranceBenefits
|
289000 | |
| CY2020 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-18000 | |
| CY2019 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-18000 | |
| CY2020 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
-18000 | |
| CY2019 | us-gaap |
Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
|
-18000 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.061 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.059 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.291 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.282 | |
| CY2020 | trvi |
Effective Income Tax Rate Reconciliation Refundable Tax Credit
EffectiveIncomeTaxRateReconciliationRefundableTaxCredit
|
0.001 | |
| CY2019 | trvi |
Effective Income Tax Rate Reconciliation Refundable Tax Credit
EffectiveIncomeTaxRateReconciliationRefundableTaxCredit
|
0.001 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.020 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.014 | |
| CY2019 | trvi |
Effective Income Tax Rate Reconciliation Lease Standard Adoption
EffectiveIncomeTaxRateReconciliationLeaseStandardAdoption
|
-0.001 | |
| CY2020 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.001 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.001 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
37048000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
28745000 | |
| CY2020Q4 | trvi |
Deferred Tax Assets Federal And State Tax Credits
DeferredTaxAssetsFederalAndStateTaxCredits
|
4054000 | |
| CY2019Q4 | trvi |
Deferred Tax Assets Federal And State Tax Credits
DeferredTaxAssetsFederalAndStateTaxCredits
|
3350000 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1727000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1200000 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
42829000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
33295000 | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
42829000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
33295000 | |
| CY2020Q4 | trvi |
Current Research Tax Credit Receivable
CurrentResearchTaxCreditReceivable
|
18000 | |
| CY2019Q4 | trvi |
Current Research Tax Credit Receivable
CurrentResearchTaxCreditReceivable
|
18000 | |
| CY2020 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
9500000 | |
| CY2019 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
7400000 | |
| CY2020Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
| CY2019Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
| CY2020 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2171477 | |
| CY2019 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1675226 | |
| CY2013Q1 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.50 | |
| CY2013Q1 | trvi |
Defined Contribution Plan Employer Elective Contributions Percent Of Match
DefinedContributionPlanEmployerElectiveContributionsPercentOfMatch
|
0.06 | |
| CY2013Q1 | trvi |
Defined Contribution Plan Vesting Over Period
DefinedContributionPlanVestingOverPeriod
|
P4Y | |
| CY2013Q1 | us-gaap |
Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
|
0.25 | |
| CY2020 | trvi |
Defined Contribution Plan Employers Matching Contribution Compliance With Regulatory Capital Requirements
DefinedContributionPlanEmployersMatchingContributionComplianceWithRegulatoryCapitalRequirements
|
68000 | |
| CY2019 | trvi |
Defined Contribution Plan Employers Matching Contribution Compliance With Regulatory Capital Requirements
DefinedContributionPlanEmployersMatchingContributionComplianceWithRegulatoryCapitalRequirements
|
111000 | |
| CY2020 | trvi |
Cost Incurred For Health Care And Life Insurance Benefits
CostIncurredForHealthCareAndLifeInsuranceBenefits
|
407000 |
