NEW
HAVEN, Conn., Dec. 16,
2024 /PRNewswire/ -- Trevi Therapeutics, Inc.
(Nasdaq: TRVI), a clinical-stage biopharmaceutical company
developing the investigational therapy, Haduvio™ (oral
nalbuphine ER) for the treatment of chronic cough in idiopathic
pulmonary fibrosis (IPF) and refractory chronic cough (RCC), today
announced the pricing of an underwritten offering of 12,500,000
shares of its common stock at a price to investors of $4.00 per share, for total proceeds of
$50 million, before deducting underwriting discounts and
commissions and expenses payable by Trevi. All of the shares
in the offering are being sold by Trevi. The offering is expected
to close on December 17, 2024,
subject to satisfaction of customary closing conditions.
The financing includes participation from new and existing
investors, including Adage Capital Partners LP, Frazier Life
Sciences, Logos Capital, MPM BioImpact, Rubric Capital Management
LP and Vivo Capital.
Leerink Partners, Stifel and Oppenheimer & Co. are acting as
joint book-running managers for the offering. Needham & Company
is acting as lead manager for the offering. Jones and B. Riley
Securities are acting as co-managers for the offering.
The shares are being offered by Trevi pursuant to a shelf
registration statement on Form S-3 (File No. 333-273030), which was
filed with the Securities and Exchange Commission (SEC) on
June 29, 2023 and declared effective
by the SEC on August 15, 2023. This
offering is being made only by means of a prospectus supplement and
the accompanying prospectus that form a part of the registration
statement. The final terms of the offering will be disclosed in a
prospectus supplement to be filed with the SEC. When available,
copies of the prospectus supplement and the accompanying prospectus
may also be obtained from Leerink Partners LLC, Attention:
Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800)
808-7525, ext. 6105, or by email at syndicate@leerink.com; from
Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate,
One Montgomery Street, Suite 3700,
San Francisco, CA 94104, by
telephone at (415) 364-2720 or by email at
syndprospectus@stifel.com; or from Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street, 26th
Floor, New York, NY 10004, by
telephone at (212) 667-8055, or by email at
EquityProspectus@opco.com.
This press release shall not constitute an offer to sell, or a
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Trevi Therapeutics, Inc.
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical
company developing the investigational therapy Haduvio™ (oral
nalbuphine extended-release) for the treatment of chronic cough in
patients with idiopathic pulmonary fibrosis (IPF) and refractory
chronic cough (RCC). Haduvio acts on the cough reflex arc both
centrally and peripherally as a kappa agonist and a mu antagonist
(KAMA), which are opioid receptors that play a key role in
controlling cough hypersensitivity. Nalbuphine is not currently
scheduled by the U.S. Drug Enforcement Agency.
Forward-Looking Statements
Statements contained in this press release regarding matters that
are not historical facts are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements are subject to risks and uncertainties and
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such statements
include, but are not limited to, statements about the anticipated
closing of the underwritten offering and the expected gross
proceeds of the offering, among other things, and other statements
containing the words "believes," "anticipates," "plans," "expects,"
"may," and similar expressions. Risks that contribute to the
uncertain nature of the forward-looking statements include:
uncertainties related to market conditions and whether the
conditions for the closing of the offering will be satisfied, as
well as other risks and uncertainties, as well as other risks and
uncertainties set forth in the "Risk Factors" section of Trevi's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed with the SEC, and in any
subsequent filings with the SEC. All forward-looking
statements contained in this press release speak only as of the
date on which they were made. Trevi undertakes no obligation to
update such statements to reflect events that occur or
circumstances that exist after the date on which they were made
except as required by law.
Investor Contact
Katie
Barrett
Trevi Therapeutics, Inc.
203-304-2499
k.barrett@trevitherapeutics.com
Media Contact
Rosalia
Scampoli
914-815-1465
rscampoli@marketcompr.com
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SOURCE Trevi Therapeutics, Inc.
