- Trevi Therapeutics Inc (NASDAQ:TRVI) has announced a private placement of 4.5 million priced at $1.90 per share and pre-funded warrants to purchase up to 24.4 million shares at $1.899 per warrant.
- The gross proceeds are approximately $55 million.
- Each pre-funded warrant will have an exercise price of $0.001 per share and be exercisable immediately.
- Frazier Life Sciences and Venrock Healthcare Capital Partners are co-lead investors in the private placement, and Fairmount and New Enterprise Associates are also participating.
- In February, Trevi Therapeutics announced positive interim analysis results from the Phase 2 CANAL trial of Haduvio (nalbuphine ER) in idiopathic pulmonary fibrosis patients (IPF) suffering from chronic cough.
- The company plans to report data from the full CANAL trial early in Q3 of 2022.
- Last month, the company concluded enrollment early for its Phase 2 CANAL trial with approximately 40 subjects.
- Price Action: TRVI shares are up 51% at $2.87 during the market session on the last check Thursday.
