Trevi Therapeutics reported a net loss of $10.3 million for the first quarter of 2025, a decrease from the $10.9 million net loss in the same period of 2024. Research and development (R&D) expenses decreased to $7.8 million from $8.8 million, primarily due to reduced costs associated with the Human Abuse Potential study.
General and administrative (G&A) expenses increased to $3.7 million from $3.1 million year-over-year, mainly due to higher personnel-related expenses. The company's cash, cash equivalents, and marketable securities totaled $103.3 million as of March 31, 2025.
Management expects this cash position to fund operations into the fourth quarter of 2026. The company also confirmed the completion of enrollment and the last patient's last visit in the Phase 2b CORAL trial, with topline results still expected in the second quarter of 2025, following positive topline results from the Phase 2a RIVER trial.
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