Investment Banking
Lead Manager on Trevi Therapeutics’ $173MM Follow-On Offering
April 23, 2026
Oppenheimer & Co. Inc. acted as Lead Manager on Trevi Therapeutics’ $173MM Follow-On Offering
Trevi Therapeutics, a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine ER) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough (RCC), today announced the closing of its previously announced underwritten public offering of 13,340,000 shares of its common stock at a public offering price of $13.00 per share, which includes 1,740,000 additional shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the public offering at the public offering price, less underwriting discounts and commissions. The total proceeds of the public offering were approximately $173 million, before deducting underwriting discounts and commissions and expenses payable by Trevi.
The company intends to use the net proceeds from this offering to fund the clinical development of Haduvio for the treatment of chronic cough in patients with IPF, non-IPF ILD, and RCC, for working capital and for other general corporate purposes.
Healthcare Life Sciences Investment Banking
Name:
Michael A. Margolis, R.Ph.
Title:Senior Managing Director, Head of Healthcare Life Sciences Investment Banking
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