HomeEquities ScoreWhy Trevi Therapeutics Inc (TRVI) stock faced negativity in the after-hours on...

Why Trevi Therapeutics Inc (TRVI) stock faced negativity in the after-hours on Monday?

Trevi Therapeutics Inc. (TRVI) shares declined 4.67% in after-hours on Monday, October 11, 2021, and closed the daily trading at $1.43. However, in regular trading, TRVI’s stock gained 25.00%. TRVI shares have fallen 61.04% over the last 12 months, and they have moved up 19.52% in the past week. Over the past three months, the stock has lost 25.74%, while over the past six months, it has declined 40.71%.

Let’s have a look at its recent news and developments.


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TRVI participation in the upcoming event

Trevi Therapeutics, Inc. (TRVI) will participate in Alliance Global Partners’ Virtual Biotech & Specialty Pharma Conference which is to be held on October 13, 2021. The company’s senior management will be available for virtual one-on-one meetings during the event.

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TRVI private placement

On September 30, 2021, Trevi Therapeutics, Inc. (TRVI) entered into a definitive agreement with a healthcare-focused institutional investor, for the purchase, in a private placement priced at the market under Nasdaq rules, of (i) 2,373,201 shares of common stock and accompanying warrants to purchase an aggregate of 4,746,402 shares of common stock, and (ii) pre-funded warrants to purchase up to an aggregate of 4,926,069 shares of common stock and accompanying warrants to purchase an aggregate of 9,852,138 shares of common stock.

TRVI recent financial results

On August 12, 2021, Trevi Therapeutics, Inc. (TRVI) announced financial results for the quarter that ended June 30, 2021.

Q2 2021 financial highlights

  • Research and development expenses were $6.5 million in Q2 2021 compared to $4.9 million in the same period in 2020.
  • General and administrative expenses were $2.7 million in Q2 2021 compared to $2.5 million in Q2 2020.
  • It suffered a net loss of $9.8 million in Q2 2021, compared to a net loss of $7.4 million in Q2 2020.
  • The company ended the quarter with total cash and cash equivalents of $36.4 million compared to $45.0 millionas of December 31, 2020.

TRVI new appointments

On August 9, 2021, Trevi Therapeutics, Inc. (TRVI), appointed Lisa Delfini, CPA, as Chief Financial Officer, and Danine Summers, as Vice President, Medical Affairs. Ms. Delfini will lead the accounting and finance operations. Ms. Summers will be responsible for educating the medical community on Haduvio’s data and development programs through publications, congresses, and relationship building with key opinion leaders.

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Conclusion

Well, we have no reason to justify its early surge and later decline in the after-hours on Monday. There is no recent news or development about the company. Let’s see how it performs in the coming trading sessions.

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