Trevi Therapeutics
TRVITRVI · Stock Price
Historical price data
Overview
Trevi Therapeutics is a clinical-stage biotech company with a focused mission to address the debilitating burden of chronic cough through its proprietary KAMA mechanism platform. Its key achievement in 2025 was announcing positive Phase 2b (CORAL) and Phase 2a (RIVER) trial results for Haduvio in IPF and RCC, respectively, positioning it as a potential first-to-market therapy. The company's strategy is to rapidly advance Haduvio through late-stage development and regulatory approval in these multi-billion-dollar, untapped markets. Trevi's $1.45B valuation reflects significant investor confidence in its clinical progress and commercial potential.
Technology Platform
A proprietary Kappa agonist / Mu antagonist (KAMA) platform leveraging the unique dual pharmacology of nalbuphine to modulate the cough reflex arc with an improved therapeutic index compared to traditional opioids.
Pipeline
14| Drug | Indication | Stage | Watch |
|---|---|---|---|
| nalbuphine HCl ER tablets 90 mg BID + nalbuphine HCl ER tabl... | Prurigo Nodularis | Phase 2/3 | |
| nalbuphine HCl ER | Prurigo Nodularis | Phase 2/3 | |
| nalbuphine HCl ER | Uremic Pruritus | Phase 2/3 | |
| nalbuphine HCl ER tablets 60 mg BID + nalbuphine HCl ER tabl... | Uremic Pruritus | Phase 2/3 | |
| Nalbuphine ER Tablets + Placebo Tablets | Prurigo Nodularis | Phase 2/3 |
Funding History
3Opportunities
Risk Factors
Competitive Landscape
Minimal direct competition in IPF chronic cough. In RCC, faces competition from P2X3 antagonists (e.g., Merck's gefapixant) which have efficacy but cause taste disturbance. Haduvio's KAMA mechanism offers a differentiated tolerability profile.