Trevi Therapeutics reported a net loss of $17.8 million for the quarter ended June 30, 2026, compared to $12.3 million in the prior year period. The company held $318.9 million in cash and marketable securities following an April equity offering that raised approximately $162.3 million in net proceeds. Research and development expenses rose to $15.2 million from $9.4 million, driven by increased clinical trial costs for the Phase 3 OCEAN-1 and Phase 2b LAKE trials. The company initiated the first Phase 3 trial for IPF-related chronic cough and a Phase 2b trial for refractory chronic cough during the quarter, with the second Phase 3 trial expected to start in Q3 2026. Trevi Therapeutics is a clinical-stage biopharmaceutical company developing Haduvio for chronic cough associated with interstitial lung diseases.