Trevi Therapeutics, Inc. (TRVI)
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the advancement and commercialization of Haduvio, a potential treatment for debilitating neurologically mediated conditions. This orally administered, extended-release formulation of nalbuphine is currently undergoing Phase IIb/III clinical trials for chronic pruritus (severe itching) and persistent cough experienced by patients with idiopathic pulmonary fibrosis. Trevi Therapeutics also possesses a licensing agreement with Endo Pharmaceuticals Inc., granting it the rights to develop and market products containing nalbuphine hydrochloride in various formulations. Established in 2011, the company maintains its corporate headquarters in New Haven, Connecticut.
Sector: Pharmaceutical Preparations
Industry: Biotechnology
Trevi Therapeutics, Inc.
NASDAQ:TRVIHealthcare · Biotechnology
-1.81%$13.56
AH$13.56+0.00%vs close
Mkt Cap$1.93B
Float111.4M
O/S142.48M
Vol
$ Vol
RVOL
Inst Own-
SI14.4%
Earnings
Dilution
Financials Summary
Revenue$0
Net Income-$42.76M
Total Assets$193.44M
Free Cash Flow-$42.1M
Debt & Equity
Debt 0%
Equity 100%
Total Debt$753K
Total Equity$183.24M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TRVI's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$193.44M
Liabilities$10.2M
Accounts Receivable$986K
Accounts Payable$3.91M
Inventory$0
PP&E (Net)$855K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $47K | $39K | $23K | $0 | $4K |
| Gross Profit | $0 | $0 | $0 | $0 | $0 | -$47K | -$39K | -$23K | $0 | -$4K |
| Gross Margin | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $33.48M | $39.38M | $23.68M | $19.83M | $22.98M | $22.33M | $19.34M | $14.07M | $6.09M | $6.91M |
| Selling, General, and Administrative | $15.85M | $12.15M | $10.24M | $10.07M | $9.49M | $10.16M | $7.31M | $4.34M | $2.14M | $1.71M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$24K | $0 |
| Total Operating Expenses | $49.33M | $51.52M | $33.92M | $29.91M | $32.48M | $32.49M | $26.64M | $18.41M | $8.24M | $8.62M |
| Operating Income (EBIT) | -$49.33M | -$51.52M | -$33.92M | -$29.91M | -$32.48M | -$32.49M | -$26.64M | -$18.41M | -$8.24M | -$8.63M |
| Operating Margin | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $0 | $4K | $391K | $780K | $1.2M | $456K | $0 | $174K | $3.34M | $0 |
| Interest Income | $6.54M | $3.6M | $4.75M | $1.74M | $10K | $178K | $792K | $156K | $69K | $2.61M |
| Other Income (Expense) | $6.5M | $3.58M | $4.83M | $719K | -$1.49M | -$287K | $577K | -$2.26M | -$4.65M | -$2.47M |
| Income Before Tax (EBT) | -$42.82M | -$47.94M | -$29.1M | -$29.19M | -$33.96M | -$32.78M | -$26.07M | -$20.67M | -$12.89M | -$11.1M |
| Income Tax Expense | -$64K | -$30K | -$32K | -$36K | -$21K | -$18K | -$18K | -$124K | -$26K | -$8K |
| Net Income | -$42.76M | -$47.91M | -$29.07M | -$29.15M | -$33.94M | -$32.76M | -$26.05M | -$20.55M | -$12.86M | -$11.09M |
| Net Income Margin | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | ||||||||||
| EPS | -0.29 | -0.47 | -0.29 | -0.45 | -1.49 | -1.81 | -1.46 | -2.29 | -1.43 | -0.69 |
| Diluted EPS | -0.29 | -0.47 | -0.29 | -0.45 | -1.49 | -1.81 | -1.46 | -2.29 | -1.43 | -0.69 |
| Weighted Average OS | 145.10M | 101.04M | 99.03M | 64.54M | 22.84M | 18.06M | 17.83M | 8.97M | 8.97M | 16.14M |
| EBITDA | -$42.68M | -$47.79M | -$28.58M | -$27.98M | -$32.71M | -$32.27M | -$26.61M | -$18.39M | -$8.19M | -$8.62M |
| EBITDA Margin | - | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $18.91M | $34.1M | $32.4M | $12.59M | $36.83M | $45M | $57.31M | $17.16M | $22.02M | $8.29M |
| Short-Term Investments | $169.35M | $73.53M | $50.57M | $107.92M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $188.26M | $107.62M | $82.97M | $120.51M | $36.83M | $45M | $57.31M | $17.16M | $22.02M | $8.29M |
| Accounts Receivable | $986K | $532K | $0 | $0 | $241K | $0 | $558K | $184K | $0 | $19K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.4M | $63K | $0 |
| Other Current Assets | $1.15M | $335K | $955K | $1.31M | $0 | $265K | $77K | $0 | $49K | $0 |
| Total Current Assets | $191.66M | $109.43M | $87.55M | $122.62M | $37.96M | $46.27M | $59.55M | $18.79M | $22.16M | $8.39M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $855K | $1.23M | $1.56M | $194K | $184K | $330K | $430K | $149K | $14K | $5K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $928K | $243K | $297K | $205K | $334K | $532K | $19K | $1.55M | $52K | $12K |
| Total Long-Term Assets | $1.78M | $1.47M | $1.86M | $399K | $518K | $862K | $449K | $1.7M | $66K | $17K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $193.44M | $110.9M | $89.4M | $123.02M | $38.48M | $47.13M | $60M | $20.49M | $22.23M | $8.41M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $3.91M | $3.41M | $1.81M | $2.86M | $2.85M | $2.02M | $1.6M | $603K | $537K | $445K |
| Short-Term Debt | $0 | $0 | $0 | $7M | $5.83M | $0 | $0 | $0 | $5.29M | $16.99M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $2.75M | $2.54M | $1.61M | $1.51M | $114K | $0 | $776K | $0 | $0 | $2.9M |
| Total Current Liabilities | $9.75M | $10.51M | $5.82M | $13.4M | $12.72M | $5.55M | $5.2M | $2.68M | $7.13M | $20.39M |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $0 | $0 | $0 | $2.15M | $8.65M | $13.95M | $0 | $1.1M | $0 | $5.12M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $3K | $0 | $196K | $0 | $460K | $325K | $310K |
| Total Long-Term Liabilities | $446K | $747K | $1.03M | $2.16M | $8.68M | $14.29M | $257K | $506K | $325K | $5.43M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $10.2M | $11.26M | $6.86M | $15.56M | $21.4M | $19.85M | $5.46M | $3.18M | $7.45M | $25.82M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $115.74M | $99.21M | $54.74M |
| Common Stock | $128K | $94K | $68K | $60K | $29K | $19K | $18K | $101K | $4K | $4K |
| Retained Earnings | -$329.8M | -$287.05M | -$239.13M | -$210.07M | -$180.92M | -$146.98M | -$114.22M | -$109.5M | -$84.43M | -$72.16M |
| Comprehensive Income & Other | $148K | $61K | -$29K | -$122K | $0 | $0 | $0 | -$46K | -$23K | -$0 |
| Other Stockholders' Equity | $512.92M | $386.6M | $321.61M | $317.47M | $197.96M | $174.24M | $168.75M | $126.7M | $99.21M | $54.74M |
| Total Equity | $183.24M | $99.64M | $82.55M | $107.46M | $17.07M | $27.28M | $54.55M | $17.31M | $14.78M | -$17.41M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $193.44M | $110.9M | $89.4M | $123.02M | $38.48M | $47.13M | $60M | $20.49M | $22.23M | $8.41M |
| Supplementary Data | ||||||||||
| Total Debt | $753K | $1.03M | $1.34M | $9.18M | $14.63M | $14.21M | $356K | $1.1M | $5.29M | $22.11M |
| Net Debt | -$18.16M | -$33.06M | -$31.06M | -$3.41M | -$22.2M | -$30.79M | -$56.96M | -$16.07M | -$16.73M | $13.82M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$42.76M | -$47.91M | -$29.07M | -$29.15M | -$33.94M | -$32.76M | -$26.05M | -$20.55M | -$12.86M | -$11.09M |
| Depreciation & Amortization | $144K | $147K | $123K | $43K | $50K | $47K | $39K | $23K | $4K | $4K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$82K | $0 | $0 | $0 | $1.35M | $0 |
| Stock-Based Compensation | $5.18M | $3.59M | $2.25M | $2.33M | $2.54M | $2.42M | $1.13M | $496K | $205K | $142 |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $293K | -$374K | -$135K | -$30 | $49K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$598K | $1.6M | -$1.05M | $9K | $831K | $417K | $777K | $66K | $92K | -$1.11M |
| Other Working Capital | -$2.89M | $5.22M | -$2.8M | -$1.24M | $678K | $348K | $1.17M | -$634K | $630K | -$421K |
| Total Working Capital Change | -$3.49M | $6.83M | -$3.85M | -$1.23M | $1.51M | $1.06M | $1.58M | -$568K | $722K | -$1.49M |
| Other Non-Cash Items | -$1.17M | -$907K | -$1.17M | -$162K | $974K | $236K | $215K | $2.3M | $2.6M | $2.45M |
| Net Cash from Operating | -$42.09M | -$38.26M | -$31.71M | -$28.18M | -$28.95M | -$29M | -$23.09M | -$18.29M | -$7.97M | -$11.19M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$12K | -$35K | -$137K | -$159K | $0 | -$32K | -$9K | -$158K | -$13K | $0 |
| Acquisitions | $0 | $0 | $0 | -$829K | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$170.66M | -$98.46M | -$9.93M | -$126.22M | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $74.93M | $75.6M | $69.5M | $19M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $1.64M | $1.37M | $0 | $829K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$94.11M | -$21.53M | $59.43M | -$107.37M | $0 | -$32K | -$9K | -$158K | -$13K | $0 |
| Financing Activities | ||||||||||
| Debt Repaid | - | $126K | $9.41M | $5.83M | $68K | -$14M | - | $5.34M | $8.25M | -$8.6M |
| Common Stock Issuance | $120.3M | $61.15M | $1.71M | $105.41M | $21.18M | $3.13M | $65.1M | -$1.52M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.53M | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $714K | $464K | -$211K | $11.73M | -$340K | -$415K | -$1.85M | -$520K | $52K | $0 |
| Net Cash from Financing | $121.01M | $61.48M | -$7.91M | $111.31M | $20.77M | $16.72M | $73.21M | $4K | $21.72M | $8.6M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$15.18M | $1.7M | $19.81M | -$24.24M | -$8.17M | -$12.31M | $50.11M | -$14.82M | $13.73M | -$2.6M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | -$42.09M | -$38.26M | -$31.71M | -$28.18M | -$28.95M | -$29M | -$23.09M | -$18.29M | -$7.97M | -$11.19M |
| Capital Expenditure | -$12K | -$35K | -$137K | -$159K | $0 | -$32K | -$9K | -$158K | -$13K | $0 |
| Free Cash Flow | -$42.1M | -$38.29M | -$31.85M | -$28.33M | -$28.95M | -$29.03M | -$23.1M | -$18.45M | -$7.99M | -$11.19M |
| Cash at Beginning | $34.1M | $32.4M | $12.59M | $36.83M | $45M | $57.31M | $7.2M | $22.02M | $8.29M | $10.88M |
| Cash at End | $18.91M | $34.1M | $32.4M | $12.59M | $36.83M | $45M | $57.31M | $7.2M | $22.02M | $8.29M |