Trevi Therapeutics ((TRVI)) has held its Q1 earnings call. Read on for the main highlights of the call.
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Trevi Therapeutics’ recent earnings call presented a cautiously optimistic outlook, marked by significant clinical achievements and a robust financial position. The company celebrated successful trial outcomes, although these were tempered by a continued net loss and rising expenses. Overall, the positives slightly outweighed the negatives, suggesting a promising future.
Successful Phase 2a RIVER Trial
Trevi Therapeutics announced a major milestone with the successful completion of the Phase 2a RIVER trial. This trial, focused on patients with refractory chronic cough (RCC), met its primary endpoint by achieving a statistically significant reduction in 24-hour objective cough frequency. The results were impressive, with a P value of less than 0.0001 and a 57% placebo-adjusted reduction in cough from baseline.
Completion of Phase 2b CORAL Trial Enrollment
The company has also completed enrollment for the Phase 2b CORAL trial, which targets idiopathic pulmonary fibrosis (IPF) chronic cough patients. This trial has enrolled approximately 160 patients across 60 sites in 10 countries, marking a significant step forward in Trevi’s clinical development efforts.
Strong Financial Position
Trevi reported a strong financial standing with cash and investments totaling $103.3 million as of March 31, 2025. This financial reserve is expected to support the company’s operations into the fourth quarter of 2026, providing a solid foundation for ongoing and future projects.
Positive FDA Interaction
In a positive development, Trevi received clear guidance from the FDA on a technical matter through a Type C request. This timely and constructive interaction with the regulatory body is crucial for the company’s ongoing development efforts and adds to the positive sentiment surrounding their clinical programs.
Continued Net Loss
Despite the clinical and financial achievements, Trevi reported a net loss of $10.4 million for the first quarter of 2025. This is a slight improvement compared to the net loss of $10.9 million in the same quarter of 2024, indicating a need for continued financial vigilance.
Increased G&A Expenses
General and administrative expenses rose to $3.7 million during the first quarter of 2025, up from $3.1 million in the same period of 2024. This increase was primarily attributed to higher personnel-related expenses, reflecting the company’s growth and expansion efforts.
Forward-Looking Guidance
Looking ahead, Trevi’s CEO Jennifer Good provided detailed guidance on the company’s clinical trials. The RIVER trial’s promising results and the completion of enrollment in the CORAL trial are key highlights. The company expects data from the CORAL trial this quarter, which could further bolster their clinical pipeline. Financially, Trevi remains well-positioned with a substantial cash reserve, and the FDA’s guidance supports their ongoing development.
In conclusion, Trevi Therapeutics’ earnings call painted a picture of cautious optimism. The company’s clinical successes and strong financial position are promising, though tempered by ongoing net losses and increased expenses. Investors and stakeholders will be keenly watching the upcoming data from the CORAL trial and the company’s strategic moves in the coming quarters.