On June 5, 2025, Trevi Therapeutics, Inc., a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio (oral nalbuphine ER) for the treatment of chronic cough in idiopathic pulmonary fibrosis and refractory chronic cough, announced the closing of its underwritten public offering of 20,010,000 shares of its common stock at a price to investors of $5.75 per share, which includes 2,610,000 shares issued upon the full exercise of the underwriters’ option to purchase additional shares of common stock. The aggregate gross proceeds to Trevi were approximately $115.1 million before deducting underwriting discounts and commissions and other offering expenses payable by Trevi.

The WilmerHale team representing Trevi consisted of Stuart Falber, Jeffries Oliver-Li, Erin Bruynell Gallagher, Michaela Rosen and Amy O’Connell, with assistance from Scott Lunin, Bruce Manheim, Meghan Walsh, Ben Kelsey, Heidi Treiber, Tim Silva, Annaka Merrick and Cindy Sullivan.