Trevi Therapeutics Inc. (TRVI) stock prices were up by 23.97% as of the market closing on October 11th 2021. This brought the price per share up to USD$1.50 at the end of the trading day. Subsequent premarket fluctuations have seen the stock dip by 5.33%, bringing it down to USD$1.42.
AGS Conference Participation
October 7th 2021 saw TRVI stock announce its upcoming participation in virtual one on one meetings at a conference. The company will be taking part in the Alliance Global Partners’ Virtual Biotech and Specialty Pharma Conference, which will take place on October 13th 2021. The clinical stage biopharmaceutical company is keen to garner increased exposure for its proprietary investigational therapy Haduvio. The treatment is designed to treat serious neurologically mediated conditions.
Continued Trial Development
The company is keen to facilitate the development of both of its pruritus in prurigo nodularis (PN) and chronic cough in idiopathic pulmonary fibrosis (IPF) trials. TRVI stock has reported the resumption of recruitment and enrollment activity in its CANAL trial following the removal of Covid-19 restrictions in the UK. Following this development, TRVI stock has announced guidance for topline data reports on the CANAL trial, which is expected in the first half of fiscal 2022.
TRVI Stock’s R&D Expense Report
Research and development expenses for the second quarter of fiscal 2021 came out to USD$6.5 million. This is comparable to the USD$4.9 million R&D costs reported for the prior year quarter. This year over year difference is largely driven by an increase in personnel-related costs, resulting from a higher employee headcount. The yearly difference was further consolidated by higher costs associated with increased activity and enrollment in the company’s ongoing Phase 2b/3 PRISM trial. Higher costs of purchases of clinical trial supplies and an increase in consulting and professional fees also contributed to the year over year difference in R$D expenses. The increases, however, were partially offset by lower expenses relating to the company’s Phase 1b clinical trial. The trial targeted patients with chronic liver disease and was completed in the first half of 2020.
Future Outlook for TRVI Stock
TRVI stock has reported a stellar quarter as evidenced by the strength of its financial reports for Q2 2021 and its clinical trial developments. The company is keen to capitalize on the opportunities afforded to it as a result of its upcoming presentations. The presentations are believed to enhance the exposure of the company, thereby helping it maintain its trajectory of success. current and potential investors are hopeful that management will be able to effectively leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.