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Trevi Therapeutics Announces Closing of $115 Million Underwritten Offering and Full Exercise by Underwriters of Option to Purchase Additional Shares

1. Trevi closes underwritten public offering of 20,010,000 shares at $5.75 each. 2. The offering raised approximately $115.1 million before fees and expenses. 3. Proceeds will likely support further development of Haduvio for chronic cough. 4. Morgan Stanley and others managed the offering, indicating strong demand. 5. Haduvio targets chronic cough caused by IPF and RCC, showing clinical promise.

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Why Bullish?

The significant capital raised can enhance TRVI's development activities, similar to other biotech firms positively reacting to funding announcements in the past which boost investor confidence and market performance.

How important is it?

This offering indicates strong institutional interest, suggesting confidence in TRVI's strategy and potential, which may lead investors to reassess the stock's value positively.

Why Long Term?

The raised capital will be used for inevitable R&D costs and late-stage trials expected to yield products, mirroring the journey of several pipeline-driven firms in biotech.

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MRNANBEVABEO
, /PRNewswire/ -- Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine ER) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF) and in patients with refractory chronic cough (RCC), today announced the closing of its previously announced underwritten public offering of 20,010,000 shares of its common stock at a public offering price of $5.75 per share, which includes 2,610,000 additional shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the public offering at the public offering price, less underwriting discounts and commissions. The total proceeds of the public offering were approximately $115.1 million, before deducting underwriting discounts and commissions and expenses payable by Trevi. All of the shares in the offering were sold by Trevi. Morgan Stanley, Leerink Partners, Stifel and Cantor acted as joint book-running managers for the offering. The shares were offered by Trevi pursuant to a shelf registration statement on Form S-3 (File No. 333-273030), which was filed with the Securities and Exchange Commission (SEC) on June 29, 2023, amended on August 11, 2023 and declared effective by the SEC on August 15, 2023. This offering was made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. The final terms of the offering are disclosed in a final prospectus supplement which has been filed with the SEC. Copies of the final prospectus supplement and the accompanying prospectus may also be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [email protected]; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected]; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, New York 10022, or by email at [email protected]. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Trevi Therapeutics, Inc. Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine extended-release) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF) and in patients with refractory chronic cough (RCC). Haduvio acts on the cough reflex arc both centrally and peripherally as a kappa agonist and a mu antagonist (KAMA), targeting opioid receptors that play a key role in controlling chronic cough. Nalbuphine is not currently scheduled by the U.S. Drug Enforcement Agency. Investor Contact Jonathan CarlsonTrevi Therapeutics, Inc.(203) 654 3286[email protected]  Media Contact Rosalia Scampoli914-815-1465 [email protected] SOURCE Trevi Therapeutics, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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