Trevi reports positive Phase 2b results, FDA alignment on two Phase 3 trials starting Q2 2026

Filed March 17, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 18, 2025 · ~2 min read

Key Changes

• high

  Phase 2b CORAL trial met primary endpoint with 60.2% cough reduction (108mg dose) vs 16.9% placebo (p<0.0001). FDA End-of-Phase 2 meeting aligned on two pivotal Phase 3 trials: 300-patient 52-week study (Q2 2026) and 130-patient 12-week study (H2 2026).

  Business: Phase 2b CORAL results & FDA meeting verify on EDGAR →
• high

  Cash position jumped to $188.3M (from $107.6M) following $115M June 2025 equity raise. Runway extended to 2028 from mid-2026, funding planned Phase 3 IPF trials, Phase 2b non-IPF ILD and RCC programs.

  MD&A: Cash runway & financing verify on EDGAR →
• high

  Addressable market expanded: U.S. non-IPF ILD patient estimate increased 63% to 228,000 (from 140,000). IPF estimate rose to 150,000 from 140,000. Both reflect refined market understanding post-trial.

  Business: Market sizing verify on EDGAR →