David Hastings, who has led finance for more than 25 years in the life‑science sector, has been appointed Chief Financial Officer of Trevi Therapeutics, Inc., effective January 6 2026. Hastings’ résumé includes CFO roles at Arbutus, Unilife and Incyte, where he raised over $2 billion in equity and debt financing and steered companies through multiple growth phases. His appointment comes as Trevi prepares to advance its flagship oral nalbuphine ER, Haduvio, into Phase 3 clinical development.
The appointment follows a $115.1 million public offering completed in June 2025 and the successful enrollment of the Phase 2b CORAL trial for Haduvio in patients with idiopathic pulmonary fibrosis. The trial’s statistically significant reduction in 24‑hour cough frequency underpins the company’s strategy to request an End‑of‑Phase 2 meeting with the FDA and to launch a Phase 3 program in the first half of 2026. The capital raise and trial completion provide the financial runway and clinical evidence needed to support the next development milestones.
Trevi’s most recent quarterly results, released in September 2025, showed a net loss of $11.8 million for the third quarter, an improvement from the $13.2 million loss in the same period last year. Earnings per share of –$0.08 beat analyst expectations of –$0.10, a beat of $0.02 or 20 %. The company’s cash and investments stood at approximately $195 million as of September 30, giving it a runway that extends through 2028 and supporting the planned Phase 3 investment.
President and CEO Jennifer Good said, “I am thrilled to welcome Dave to the leadership team as we enter an important chapter of growth at Trevi.” Hastings added, “I am happy to join Trevi as they continue to pioneer a potential treatment option for patients with chronic cough. Trevi is at an exciting stage of development with statistically significant data across target indications, limited competition, and a strong cash position. I look forward to leveraging my experience to accelerate its path to long‑term value for both patients and shareholders.”
Following the announcement, Trevi’s shares reached an all‑time high of $13.92 on December 3 2025, reflecting investor confidence in the company’s clinical progress, robust cash position, and the new CFO’s track record in capital deployment. Analysts upgraded their outlooks, citing the company’s strong Phase 2 data, the recent capital raise, and the expected launch of a Phase 3 program.
The CFO change signals Trevi’s intent to scale its financial operations in support of the upcoming Phase 3 program and potential regulatory submissions. Hastings’ experience in raising capital and managing large biopharma programs positions the company to navigate the significant funding requirements of late‑stage development while maintaining disciplined cost control. With a solid cash base and a clear regulatory pathway, Trevi is poised to advance Haduvio toward market approval and to capitalize on the unmet need for chronic cough treatment in idiopathic pulmonary fibrosis and related indications.
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