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Trevi Therapeutics Shares Gain On Raising $55M Via Equity

Published 07/04/2022, 17:37
Updated 07/04/2022, 18:10
© Reuters. Trevi Therapeutics Shares Gain On Raising $55M Via Equity
TRVI
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  • Trevi Therapeutics Inc (NASDAQ: TRVI) has announced a private placement of 4.5 million priced at $1.90 per share and pre-funded warrants to purchase up to 24.4 million shares at $1.899 per warrant.
  • The gross proceeds are approximately $55 million.
  • Each pre-funded warrant will have an exercise price of $0.001 per share and be exercisable immediately.
  • Frazier Life Sciences and Venrock Healthcare Capital Partners are co-lead investors in the private placement, and Fairmount and New Enterprise Associates are also participating.
  • In February, Trevi Therapeutics announced positive interim analysis results from the Phase 2 CANAL trial of Haduvio (nalbuphine ER) in idiopathic pulmonary fibrosis patients (IPF) suffering from chronic cough.
  • The company plans to report data from the full CANAL trial early in Q3 of 2022.
  • Last month, the company concluded enrollment early for its Phase 2 CANAL trial with approximately 40 subjects.
  • Price Action: TRVI shares are up 51% at $2.87 during the market session on the last check Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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