Trevi Therapeutics, Inc.

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 13, 2025

TRVI$14.91-2.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Stockholders’ Equity

Trevi Ther apeutics, Inc.

Condensed Consolidated Statements of Stockholders’ Equity

(Amounts in thousands, except share amounts)

Additional · Accumulated Other · Total
Common Stock · Paid- · Comprehensive · Accumulated · Stockholders’
	Shares	Amount	in Capital	Income (Loss)	Deficit	Equity
Balance at June 30, 2025	121,775,753	$122	$508,033	$24	$(309,686)	198,493
Stock-based compensation	—	—	1,243	—	—	1,243
Issuance of common stock from exercise of stock options	477,485	—	1,123	—	—	1,123
Issuance of common stock from pre-funded warrant exercise	5,961,875	6	(6)	—	—	—
Unrealized gains on available-for-sale marketable securities	—	—	—	6	—	6
Proceeds from disgorgement of beneficial owner's short-swing profits	—	—	725	—	—	725
Net loss	—	—	—	—	(11,802)	(11,802)
Balance at September 30, 2025	128,215,113	$128	$511,118	$30	$(321,488)	$189,788
Balance at June 30, 2024	72,591,917	$73	$328,573	$(84)	$(262,388)	66,174
Stock-based compensation	—	—	822	—	—	822
Issuance of common stock from exercise of stock options	113,736	—	162	—	—	162
Issuance of common stock under the at-the-market sales agreement, net of commissions and allocated fees	1,611,803	1	4,829	—	—	4,830
Issuance of common stock from pre-funded warrant exercise	1,136,919	1	(1)	—	—	—
Unrealized gains on available-for-sale marketable securities	—	—	—	223	—	223
Net loss	—	—	—	—	(13,242)	(13,242)
Balance at September 30, 2024	75,454,375	$75	$334,385	$139	$(275,630)	$58,969

Additional · Accumulated Other · Total
Common Stock · Paid- · Comprehensive · Accumulated · Stockholders’
	Shares	Amount	in Capital	Income (Loss)	Deficit	Equity
Balance at December 31, 2024	93,602,631	$94	$386,534	$61	$(287,045)	$99,644
Stock-based compensation	—	—	3,835	—	—	3,835
Issuance of common stock from exercise of stock options	772,857	—	1,854	—	—	1,854
Issuance of common stock from Employee Stock Purchase Plan	15,898	—	59	—	—	59
Issuance of common stock from warrant exercise	7,851,852	8	10,749	—	—	10,757
Issuance of common stock from pre-funded warrant exercise	5,961,875	6	(6)	—	—	—
Issuance of common stock under offering, less issuance costs	20,010,000	20	107,368	—	—	107,388
Unrealized losses on available-for-sale marketable securities	—	—	—	(31)	—	(31)
Proceeds from disgorgement of beneficial owner's short-swing profits	—	—	725	—	—	725
Net loss	—	—	—	—	(34,443)	(34,443)
Balance at September 30, 2025	128,215,113	$128	$511,118	$30	$(321,488)	$189,788
Balance at December 31, 2023	68,283,699	$68	$321,642	$(29)	$(239,134)	$82,547
Stock-based compensation	—	—	2,671	—	—	2,671
Issuance of common stock from exercise of stock options	243,254	—	381	—	—	381
Issuance of common stock under the at-the-market sales agreement, net of commissions and allocated fees	3,086,729	3	9,661	—	—	9,664
Issuance of common stock from Employee Stock Purchase Plan	30,675	—	34	—	—	34
Issuance of common stock from pre-funded warrant exercise	3,810,018	4	(4)	—	—	—
Unrealized gains on available-for-sale marketable securities	—	—	—	168	—	168
Net loss	—	—	—	—	(36,496)	(36,496)
Balance at September 30, 2024	75,454,375	$75	$334,385	$139	$(275,630)	58,969

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.