TRVI Stock’s Five-Day Rally Pushes It To An All-Time High – Here’s What’s Happening

• Underwriters were given a 30-day option to purchase up to 1.74 million additional shares.
• Trevi is currently developing Haduvio, its treatment for chronic cough in patients with idiopathic pulmonary fibrosis.
• The company plans to launch two late-stage clinical trials starting in the second quarter of 2026.

Shares of Trevi Therapeutics, Inc. (TRVI) jumped 5% on Friday to an all-time high after the biotech firm priced its $150 million underwritten public offering at $13 per share.

TRVI shares are heading for a fifth consecutive session of gains, rising nearly 20% over the course of the rally.

While Trevi offered 11.6 million shares at $13 per share, it also granted underwriters a 30-day option to purchase up to 1.74 million additional shares that could fetch up to $22.5 million. The offering is expected to close around April 20, 2026.

How Did Retail Traders React?

Retail sentiment on Stocktwits flipped to ‘bullish’ from ‘bearish’ a day earlier. Message volumes soared a whopping 600% on the platform over the past 24 hours, according to Stocktwits data.

One user called the price action “strange” and questioned if it was driven by a “small squeeze.”

Another user, who commented before the $13 per share offer was disclosed, said the dilution seemed unnecessary.

Trevi Prepares To Launch Late-Stage Trials For Chronic Cough Treatment

Trevi Therapeutics is currently developing Haduvio, its treatment for chronic cough in patients with conditions such as idiopathic pulmonary fibrosis, interstitial lung disease, and refractory chronic cough.

Last month, the firm announced plans to launch two late-stage clinical trials for Haduvio following discussions with the U.S. Food and Drug Administration (FDA). The first trial is expected to begin in the second quarter of 2026, with the second starting later in the year.

Both studies will be randomized and placebo-controlled, testing the drug’s safety and effectiveness. One trial will enroll around 300 patients, while the other will include about 130, Trevi added.

The stock has seen heavy buying interest over the past year, surging more than 165%.

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