Trevi Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Research and development | $33.5M | $39.4M | $23.7M | $19.8M | $23.0M |
| Operating expenses | $49.3M | $51.5M | $33.9M | $29.9M | $32.5M |
| Operating income | -$49.3M | -$51.5M | -$33.9M | -$29.9M | -$32.5M |
| Interest expense | $0 | $4,000 | $391,000 | $1.2M | $1.2M |
| Pretax income | -$42.8M | -$47.9M | -$29.1M | -$29.2M | -$34.0M |
| Income tax expense | -$64,000 | -$30,000 | -$32,000 | -$36,000 | -$21,000 |
| Net income | -$42.8M | -$47.9M | -$29.1M | -$29.2M | -$33.9M |
| Balance Sheet | |||||
| Cash and equivalents | $18.9M | $34.1M | $32.4M | $12.6M | $36.8M |
| Current assets | $191.7M | $109.4M | $87.5M | $122.6M | $38.0M |
| Total assets | $193.4M | $110.9M | $89.4M | $123.0M | $38.5M |
| Current liabilities | $9.7M | $10.5M | $5.8M | $13.4M | $12.7M |
| Total liabilities | $10.2M | $11.3M | $6.9M | $15.6M | $21.4M |
| Stockholders' equity | $183.2M | $99.6M | $82.5M | $107.5M | $17.1M |
| Cash Flow Statement | |||||
| Cash from operations | -$42.1M | -$38.3M | -$31.7M | -$28.2M | -$28.9M |
| Depreciation and amortization | $144,000 | $147,000 | $123,000 | $43,000 | $50,000 |
| Stock-based compensation | $5.2M | $3.6M | $2.2M | $2.3M | $2.5M |
| Capital expenditure | $12,000 | $35,000 | $137,000 | $159,000 | — |
| Free cash flow | -$42.1M | -$38.3M | -$31.8M | -$28.3M | — |
| Impairments | — | — | — | $0 | $0 |
Shares outstanding 142.0M · Free float 38.2%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.