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Thursday, May 19, 2022

What’s Driving Trevi Therapeutics (TRVI) Stock Price Up This Session?

In Thursday’s session, Trevi Therapeutics Inc. (TRVI) shares rose 38.42 percent to $2.63. The shares of Trevi Therapeutics (TRVI) closed at $1.90 in the most recent trading session. The stock had a trading volume of 4.96 million shares, which was lower than the average daily trading volume of 0.88 million shares for the previous 50 days.

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Trevi Therapeutics (TRVI) has lost -20.50 percent in the previous five days but has gained 19.50 percent in the last month. Over the previous three months, the stock price has increased by 134.57 percent, and it has increased by 142.90 percent this year. TRVI stock has soared on the announcement of an equity offering.

Which value offering TRVI has been making?

Trevi Therapeutics (TRVI) is a clinical-stage biopharmaceutical company focused on the development and marketing of Haduvio, an experimental medication for neurologically affected illnesses. TRVI is leading a Phase 2b/3 clinical trial of Haduvio for the treatment of continuing pruritus associated with prurigo nodularis (PN) and a Phase 2 trial for patients with idiopathic aspiratory fibrosis who have continual hacking (IPF). The pathophysiology of these conditions is similar, and it is mediated by narcotic receptors in the focus and fringe sensory systems.

Trevi Therapeutics (TRVI) today reported that it has gone into an authoritative concurrence with specific medical services centered institutional financial backers for the acquisition of specific resources.

  • TRVI will sell 4,580,526 shares of common stock in a private placement valued at the market price of $1.90 per share under the terms of the agreement.
  • TRVI will also sell pre-financed warrants for up to 24,379,673 shares of common stock for $1.899 each.
  • Trevi Therapeutics invested $55 million in the deal in the hopes of making a profit.
  • Each pre-subsidized warrant will have an activity cost of $0.001 per share and will be exercisable immediately and until fully exercised.
  • In the private situation, Frazier Life Sciences and Venrock Healthcare Capital Partners are co-lead financial supporters, with Fairmount and New Enterprise Associates also interested.
  • For the private job, Stifel serves as the primary arrangement specialist.
  • For the private scenario, Needham & Company, Oppenheimer and Co., and Aegis Capital Corp. are acting as co-position experts.

What does TRVI have planned for the future?

Trevi Therapeutics (TRVI) intends to use the net proceeds from the private offering to advance Haduvio in clinical trials in patients with idiopathic aspiratory fibrosis, as well as for working capital and other general company reasons. TRVI believes that the private placement will close on April 11, 2022, pending the satisfaction of usual closing conditions.

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