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Trevi Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops and commercializes investigational therapy for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF) and non-IPF interstitial lung disease, and refractory chronic cough. The company develops Haduvio, an oral extended-release formulation of nalbuphine, which is in phase 2b Cough Reduction in IPF with nalbuphine ER clinical trial for treatment of chronic cough in patients with IPF, and phase 2a clinical trial in patients with refractory chronic cough. Trevi Therapeutics, Inc. has a license agreement with Keenova Therapeutics plc to develop and commercialize products incorporating nalbuphine hydrochloride in various formulations. Trevi Therapeutics, Inc. was incorporated in 2011 and is headquartered in New Haven, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-43M | $-43M | $-42M | -23.3% | - | - |
| 2024 | $0M | $-48M | $-48M | $-38M | -48.1% | - | - |
| 2023 | $0M | $-29M | $-29M | $-32M | -35.2% | - | - |
| 2022 | $0M | $-28M | $-29M | $-28M | -27.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 29.91 | 33.92 | 51.52 | 49.33 |
| Operating Income | -29.91 | -33.92 | -51.52 | -49.33 |
| EBITDA | -27.98 | -28.58 | -47.79 | -42.68 |
| EBIT | -28.02 | -28.71 | -47.94 | -42.82 |
| Pretax Income | -29.19 | -29.10 | -47.94 | -42.82 |
| Tax Provision | -0.04 | -0.03 | -0.03 | -0.06 |
| Net Income | -29.15 | -29.07 | -47.91 | -42.76 |
| Net Income Common Stockholders | -29.15 | -29.07 | -47.91 | -42.76 |
| Total Expenses | 29.91 | 33.92 | 51.52 | 49.33 |
| Interest Expense | 1.16 | 0.39 | 0 | 0 |
| Interest Income | 1.74 | 4.75 | 3.60 | 6.54 |
| Research And Development | 19.83 | 23.68 | 39.38 | 33.48 |
| Selling General And Administration | 10.07 | 10.24 | 12.15 | 15.85 |
| Normalized EBITDA | -27.84 | -28.58 | -47.79 | -42.68 |
| Normalized Income | -29.01 | -29.07 | -47.91 | -42.76 |
| Basic EPS | -0.45 | -0.29 | -0.47 | 0 |
| Diluted EPS | -0.45 | -0.29 | -0.47 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | -0.15 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.15 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -29.15 | -29.07 | -47.91 | -42.76 |
| Reconciled Depreciation | 0.04 | 0.12 | 0.15 | 0.14 |
| Net Interest Income | 0.58 | 4.36 | 3.60 | 6.54 |
| Net Income From Continuing And Discontinued Operation | -29.15 | -29.07 | -47.91 | -42.76 |
| Total Operating Income As Reported | -29.91 | -33.92 | -51.52 | -49.33 |
| Diluted Average Shares | 64.54 | 99.03 | 101.97 | 0 |
| Basic Average Shares | 64.54 | 99.03 | 101.97 | 0 |
| Diluted NI Availto Com Stockholders | -29.15 | -29.07 | -47.91 | -42.76 |
| Net Income Including Noncontrolling Interests | -29.15 | -29.07 | -47.91 | -42.76 |
| Net Income Continuous Operations | -29.15 | -29.07 | -47.91 | -42.76 |
| Other Income Expense | 0.14 | 0.47 | -0.01 | -0.03 |
| Other Non Operating Income Expenses | 0.29 | 0.47 | -0.01 | -0.03 |
| Gain On Sale Of Security | -0.15 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.58 | 4.36 | 3.60 | 6.54 |
| Total Other Finance Cost | 0.38 | 0 | 0 | 0 |
| Interest Expense Non Operating | 1.16 | 0.39 | 0 | 0 |
| Interest Income Non Operating | 1.74 | 4.75 | 3.60 | 6.54 |
| General And Administrative Expense | 10.07 | 10.24 | 12.15 | 15.85 |
| Other Gand A | 10.07 | 10.24 | 12.15 | 15.85 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Trevi Therapeutics, Inc.this co. | TRVI | $2.0B | - | 9.68 | -23.3% | -32.27 |
| Tyra Biosciences, Inc. | TYRA | $2.0B | - | 7.00 | -46.3% | -11.87 |
| Ocular Therapeutix, Inc. | OCUL | $2.0B | - | 3.04 | -40.6% | -5.06 |
| Aurinia Pharmaceuticals Inc. | AUPH | $2.0B | 7.38 | 3.48 | 49.4% | 12.59 |
| Pediatrix Medical Group, Inc. | MD | $1.9B |
| 11.57 |
| 2.21 |
| 19.1% |
| 7.93 |
| Stoke Therapeutics, Inc. | STOK | $1.9B | - | 5.42 | -2.0% | -86.99 |
| Omnicell, Inc. | OMCL | $1.9B | 828.21 | 1.38 | 0.2% | 18.60 |
| GeneDx Holdings Corp. | WGS | $1.8B | - | 5.97 | -6.8% | 141.02 |
| Inhibrx Biosciences, Inc. | INBX | $1.8B | - | 227.77 | -1752.2% | -13.63 |
| Peer Median | - | 11.57 | 4.45 | -4.4% | 1.43 | |