Trevi Therapeutics reported a net loss of $13.2 million for the third quarter of 2024, an increase from the $7.7 million net loss in the same period of 2023. Research and development (R&D) expenses rose to $11.2 million from $6.3 million year-over-year, driven by increased clinical development for the Phase 2b CORAL trial, Phase 2a RIVER trial, and HAP study.
General and administrative (G&A) expenses for the quarter increased to $2.9 million from $2.7 million in the prior year, primarily due to higher stock-based compensation. The company ended the third quarter of 2024 with $65.5 million in cash, cash equivalents, and marketable securities.
Management stated that this cash position is expected to provide a runway into the second half of 2026. The company also reiterated the completion of enrollment for the Phase 2a RIVER trial and 50% enrollment for the Phase 2b CORAL trial, with key data readouts anticipated in the coming months.
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