Trevi Therapeutics reported a net loss of $12.3 million for the second quarter of 2025, a slight decrease from the $12.4 million net loss in the same period of 2024. Research and development (R&D) expenses decreased to $9.4 million from $10.0 million, primarily due to reduced clinical development costs for the Phase 2a RIVER trial, Human Abuse Potential study, and Phase 2b CORAL trial.
General and administrative (G&A) expenses increased to $4.3 million from $3.3 million year-over-year, mainly due to higher professional fees and personnel-related expenses. Other income, net, increased to $1.4 million from $0.9 million, driven by higher interest income from increased cash and marketable securities balances.
The company announced the closing of its $115 million underwritten offering and expects its current cash and investments to provide a cash runway into 2029. This strong financial position, coupled with positive topline results from both the CORAL and RIVER trials, supports the continued advancement of Haduvio through late-stage development.
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