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Trevi Therapeutics Q3 net loss widens on higher R&D costs

By Reuters News


Overview

  • U.S. biopharma firm's Q3 net loss widened yr/yr on higher R&D spending

  • Company ended Q3 with $299.4 mln in cash and marketable securities

  • Cash runway expected into 2030 to fund key clinical milestones


Outlook

  • Trevi expects topline results from Phase 3 OCEAN-2 trial in 2H 2027

  • Company plans to initiate Phase 2 non-IPF ILD-related chronic cough trial in Q1 2027

  • Trevi projects cash runway into 2030 to fund key clinical milestones


Result Drivers

  • R&D SPENDING - Co said higher R&D expenses were mainly due to increased clinical development costs for Phase 3 OCEAN-1, Phase 3 OCEAN-2, and Phase 2b LAKE trials, as well as higher stock-based compensation and personnel costs

  • G&A EXPENSES - Co attributed higher G&A expenses to increased stock-based compensation and personnel-related costs

  • INTEREST INCOME - Co said higher other income was mainly due to increased interest income from larger cash and marketable securities balances


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Loss Per Share

$0.13

Q3 Net Loss

$21.45 mln

Q3 Income from Operations

-$24.49 mln

Q3 Operating Expenses

$24.49 mln

Q3 Pretax Loss

$21.47 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Trevi Therapeutics, Inc. is $29.00, about 102.4% above its November 6 closing price of $14.33


Reuters Recommended Reads

  • Nov 9 - Compass Therapeutics Q3 net loss widens on higher R&D expenses

  • Nov 9 - Bicara Therapeutics Q3 net loss widens on higher R&D costs

  • Nov 9 - Spruce Biosciences Q3 net loss widens on higher R&D costs


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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