Retail Chatter For Trevi Therapeutics Soars After Enrollment Target For Chronic Cough Study Hits 75%
By Stocktwits Inc | First Published Dec 13, 2024, 8:25 PM ISTAn independent statistician confirmed the sample size following a re-estimation analysis, ensuring that the trial’s design remains statistically robust.
Shares of Trevi Therapeutics Inc. rose over 6% on Friday morning, building on momentum from the previous session when the stock hit over two-year intraday highs.
The surge came as heavy retail buzz pushed the ticker to prominence on Stocktwits, where message volume spiked over 4,900% on Thursday.
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The company announced that its phase 2b study of Haduvio, an investigational therapy for idiopathic pulmonary fibrosis (IPF) with chronic cough, has achieved 75% of its enrollment target of 160 patients.
An independent statistician confirmed the sample size following a re-estimation analysis, ensuring the trial’s design remains statistically robust.
The analysis involved treating 80 patients with Haduvio’s highest dose (108 mg twice daily) over six weeks.
Trevi reiterated that topline results are expected in the first half of 2025.
Wall Street analysts responded positively to the update:
• Jones Research reiterated a ‘Buy’ rating, stating the analysis enhances confidence in the trial’s statistical assumptions, which indicate a high likelihood of demonstrating significant cough reduction.
• Needham’s Serge Belanger called the result the “best case outcome,” highlighting it as a de-risking event. He highlighted that the study’s treatment effect size and dropout rates align with initial assumptions, supporting the original design. Needham maintained a ‘Buy’ rating with an $8 price target.
• H.C. Wainwright raised its price target to $7.50 from $6, describing the update as a “material positive” for investor sentiment ahead of data readouts.
Year-to-date, TRVI stock has gained over 170%, as of the last close, showcasing strong investor interest in the company’s pipeline and prospects.
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