$TRVI
Trevi Therapeutics, Inc.

2022 Q3 Form 10-Q Financial Statement

#000156459022029142 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.636M $2.717M $2.380M
YoY Change 18.26% 1.8% -4.8%
% of Gross Profit
Research & Development $5.769M $5.103M $4.645M
YoY Change 22.28% -21.47% -16.89%
% of Gross Profit
Depreciation & Amortization $9.000K $8.000K $11.00K
YoY Change -30.77% -46.67% -15.38%
% of Gross Profit
Operating Expenses $8.405M $7.820M $7.025M
YoY Change 20.99% -14.69% 25.69%
Operating Profit -$8.405M -$7.820M -$7.025M
YoY Change 20.99% -14.69% -13.15%
Interest Expense $292.0K $295.0K -$309.0K
YoY Change -3.63% -0.34% -205.1%
% of Operating Profit
Other Income/Expense, Net $132.0K -$236.0K -$309.0K
YoY Change -62.48% 4.04%
Pretax Income -$8.273M -$8.056M -$7.334M
YoY Change 14.06% -17.76% -12.54%
Income Tax -$7.000K -$4.000K -$5.000K
% Of Pretax Income
Net Earnings -$8.266M -$8.052M -$7.329M
YoY Change 13.94% -17.79% -12.45%
Net Earnings / Revenue
Basic Earnings Per Share -$0.12 -$0.14 -$0.24
Diluted Earnings Per Share -$0.12 -$0.14 -$237.9K
COMMON SHARES
Basic Shares Outstanding 42.77M 59.54M 30.81M
Diluted Shares Outstanding 68.90M 59.54M 30.81M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.6M $77.86M $29.11M
YoY Change 328.42% 113.74% -29.97%
Cash & Equivalents $66.57M $24.70M $29.11M
Short-Term Investments $59.03M $53.16M
Other Short-Term Assets $421.0K $382.0K $249.0K
YoY Change -69.69% -81.41% -57.8%
Inventory
Prepaid Expenses $1.294M $1.648M $477.0K
Receivables
Other Receivables
Total Short-Term Assets $127.3M $79.89M $29.84M
YoY Change 314.62% 107.6% -29.22%
LONG-TERM ASSETS
Property, Plant & Equipment $68.00K $34.00K $149.0K
YoY Change -69.37% -86.87% -50.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.000M
YoY Change
Other Assets $922.0K $413.0K $398.0K
YoY Change 38.23% 0.73% -2.93%
Total Long-Term Assets $1.043M $1.529M $547.0K
YoY Change 17.32% 128.55% -21.97%
TOTAL ASSETS
Total Short-Term Assets $127.3M $79.89M $29.84M
Total Long-Term Assets $1.043M $1.529M $547.0K
Total Assets $128.4M $81.41M $30.39M
YoY Change 306.26% 107.96% -29.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.333M $3.938M $1.738M
YoY Change 4.48% 12.9% 117.25%
Accrued Expenses $5.249M $4.403M $3.881M
YoY Change 56.22% 32.78% 0.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $7.000M $7.125M
YoY Change 64.71% 180.56% 1128.45%
Total Short-Term Liabilities $14.64M $15.43M $12.87M
YoY Change 47.69% 64.01% 140.96%
LONG-TERM LIABILITIES
Long-Term Debt $3.800M $5.428M $7.056M
YoY Change -62.91% -54.43% -48.57%
Other Long-Term Liabilities $15.00K $35.00K $0.00
YoY Change -74.14% -61.54% -100.0%
Total Long-Term Liabilities $15.00K $35.00K $7.056M
YoY Change -99.85% -99.71% -49.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.64M $15.43M $12.87M
Total Long-Term Liabilities $15.00K $35.00K $7.056M
Total Liabilities $18.46M $20.90M $19.92M
YoY Change -8.7% -2.4% 3.88%
SHAREHOLDERS EQUITY
Retained Earnings -$204.6M -$196.3M
YoY Change 18.66% 18.9%
Common Stock $58.00K $40.00K
YoY Change 90.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $109.9M $60.52M $10.46M
YoY Change
Total Liabilities & Shareholders Equity $128.4M $81.41M $30.39M
YoY Change 306.26% 107.96% -29.1%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$8.266M -$8.052M -$7.329M
YoY Change 13.94% -17.79% -12.45%
Depreciation, Depletion And Amortization $9.000K $8.000K $11.00K
YoY Change -30.77% -46.67% -15.38%
Cash From Operating Activities -$8.576M -$6.176M -$7.092M
YoY Change 18.44% -21.78% -6.41%
INVESTING ACTIVITIES
Capital Expenditures -$43.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$4.807M -$54.22M
YoY Change
Cash From Investing Activities -$4.850M -$54.22M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $583.0K
YoY Change
Cash From Financing Activities 55.30M 55.98M -625.0K
YoY Change 41170.15% 1935.56% -115.07%
NET CHANGE
Cash From Operating Activities -8.576M -6.176M -7.092M
Cash From Investing Activities -4.850M -54.22M
Cash From Financing Activities 55.30M 55.98M -625.0K
Net Change In Cash 41.88M -4.415M -7.717M
YoY Change -689.22% -14.21% 124.92%
FREE CASH FLOW
Cash From Operating Activities -$8.576M -$6.176M -$7.092M
Capital Expenditures -$43.00K
Free Cash Flow -$8.533M
YoY Change 17.84%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
131000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
120000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
12724000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2849000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3808000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9796000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15390000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-9794000
us-gaap Net Income Loss
NetIncomeLoss
-15381000
us-gaap Net Income Loss
NetIncomeLoss
-18165000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45253599
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19772201
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.92
CY2022Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
1000000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
334000
CY2021Q4 us-gaap Assets
Assets
38475000
CY2021Q4 us-gaap Loans Payable Current
LoansPayableCurrent
5833000
CY2021Q4 trvi Derivative Fair Value Of Derivative Liability Current
DerivativeFairValueOfDerivativeLiabilityCurrent
114000
CY2021Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
8652000
CY2022Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
35000
CY2021Q4 us-gaap Liabilities
Liabilities
21400000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
28505804
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28505804
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
29000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
197963000
CY2022Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-135000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-180917000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
17075000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
38475000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12087000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5169000
us-gaap Operating Expenses
OperatingExpenses
17256000
us-gaap Operating Income Loss
OperatingIncomeLoss
-17256000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-147000
us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
34000
CY2021Q2 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
375000
us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
375000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
199000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
5000
CY2021Q2 us-gaap Interest Expense
InterestExpense
296000
us-gaap Interest Expense
InterestExpense
597000
us-gaap Interest Expense
InterestExpense
590000
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-629000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-545000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-926000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18182000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-17000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-9794000
us-gaap Net Income Loss
NetIncomeLoss
-15381000
us-gaap Net Income Loss
NetIncomeLoss
-18165000
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.92
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20123461
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20123461
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
45253599
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45253599
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
19772201
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19772201
CY2022Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-135000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-135000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9794000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15516000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-18165000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
10463000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
520000
CY2022Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
23000
CY2022Q2 trvi Stock Issued During Period Value Stock Warrant Exercised
StockIssuedDuringPeriodValueStockWarrantExercised
5890000
CY2022Q2 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
135000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-8052000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
60515000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
23685000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
745000
CY2021Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
17000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-9794000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
17736000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
17075000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1257000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
23000
trvi Stock Issued During Period Value Stock Warrant Exercised
StockIssuedDuringPeriodValueStockWarrantExercised
5892000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
135000
us-gaap Net Income Loss
NetIncomeLoss
-15381000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
60515000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
27282000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1463000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
17000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
17736000
us-gaap Net Income Loss
NetIncomeLoss
-15381000
us-gaap Net Income Loss
NetIncomeLoss
-18165000
us-gaap Depreciation
Depreciation
19000
us-gaap Depreciation
Depreciation
25000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
72000
trvi Changes In Fair Value Of Term Loan Derivative Liability
ChangesInFairValueOfTermLoanDerivativeLiability
147000
trvi Changes In Fair Value Of Term Loan Derivative Liability
ChangesInFairValueOfTermLoanDerivativeLiability
-34000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
297000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
291000
trvi Expense Related To Other Transactions
ExpenseRelatedToOtherTransactions
375000
us-gaap Share Based Compensation
ShareBasedCompensation
1257000
us-gaap Share Based Compensation
ShareBasedCompensation
1463000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
885000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
592000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
941000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1471000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
409000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-310000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13268000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15476000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
54217000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54217000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2333000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
21000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
51826000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
5892000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
23000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
17000
trvi Proceeds From At Market Sales Net Of Commissions
ProceedsFromAtMarketSalesNetOfCommissions
6972000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
34000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
89000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55353000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6900000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12132000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8576000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45001000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24698000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36425000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
92000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
120000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
95000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
144000
us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:6pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-weight:normal;"/>Nature of the Business </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;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 the investigational therapy Haduvio (oral nalbuphine ER) to treat serious neurologically mediated conditions. The Company is currently developing Haduvio for the treatment of prurigo nodularis and chronic cough in adults with idiopathic pulmonary fibrosis (“IPF”). 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:6pt;margin-bottom:0pt;text-indent:4.54%;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 (“U.S.”) 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. Parenteral nalbuphine is not scheduled as a controlled substance in the U.S. and most of Europe.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:6pt;margin-left:4.54%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with 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 Condensed Consolidated Financial Statements include, but are not limited to, the recognition of research and development (“R&amp;D”) expenses, the valuation of stock-based awards and the valuation allowance of deferred tax assets resulting from net operating losses. In addition, management’s assessment of the Company’s ability to continue as a going concern involves the estimation of the amount and timing of future cash inflows and outflows. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates. The inputs into the Company’s estimates also considered the economic implications of the COVID-19 pandemic on the Company’s estimates.</p>
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
35000
us-gaap Operating Lease Payments
OperatingLeasePayments
59000
us-gaap Operating Lease Payments
OperatingLeasePayments
69000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45253599
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19772201
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
41224
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
82000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
131000
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
54292000
CY2022Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
135000
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
54157000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.21
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
2631
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
1.43
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4144367
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.35
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2005863
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.70
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
53283000
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
53157000
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
1009000
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1000000
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
54292000
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
54157000
CY2022Q2 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2022Q2 trvi Other Than Temporary Impairment Losses Marketable Securities
OtherThanTemporaryImpairmentLossesMarketableSecurities
0
trvi Other Than Temporary Impairment Losses Marketable Securities
OtherThanTemporaryImpairmentLossesMarketableSecurities
0
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.130
trvi Number Of New Leases
NumberOfNewLeases
0
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P0Y9M18D
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
72000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
25000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
100000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
95000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
24000
CY2022Q2 trvi Accrued Research And Development Liabilities
AccruedResearchAndDevelopmentLiabilities
2567000
CY2021Q4 trvi Accrued Research And Development Liabilities
AccruedResearchAndDevelopmentLiabilities
2303000
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1054000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1250000
CY2022Q2 trvi Accrued Consulting And Professional Fees
AccruedConsultingAndProfessionalFees
450000
CY2021Q4 trvi Accrued Consulting And Professional Fees
AccruedConsultingAndProfessionalFees
176000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
332000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
79000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4403000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3808000
us-gaap Net Income Loss
NetIncomeLoss
-15381000
us-gaap Net Income Loss
NetIncomeLoss
-18165000
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2138504
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
2.09
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
74310805
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
55139084
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2929472
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.51
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1258750
us-gaap Share Based Compensation
ShareBasedCompensation
1257000
us-gaap Share Based Compensation
ShareBasedCompensation
1463000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18147341
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3202377

Files In Submission

Name View Source Status
0001564590-22-029142-index-headers.html Edgar Link pending
0001564590-22-029142-index.html Edgar Link pending
0001564590-22-029142.txt Edgar Link pending
0001564590-22-029142-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
trvi-10q_20220630.htm Edgar Link pending
trvi-20220630.xsd Edgar Link pending
trvi-ex311_9.htm Edgar Link pending
trvi-ex312_7.htm Edgar Link pending
trvi-ex321_10.htm Edgar Link pending
trvi-ex322_8.htm Edgar Link pending
trvi-20220630_def.xml Edgar Link unprocessable
trvi-20220630_lab.xml Edgar Link unprocessable
trvi-20220630_pre.xml Edgar Link unprocessable
trvi-10q_20220630_htm.xml Edgar Link completed
trvi-20220630_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable