• Trevi Therapeutics recently announced plans to present detailed Phase 2b CORAL trial results and additional nalbuphine ER data for IPF-related chronic cough at the ATS 2026 International Conference in Orlando on May 18, 2026.
• Alongside upcoming Q1 2026 results and a proposal to double authorized common shares, these scientific disclosures highlight how clinical and corporate actions may shape Trevi’s future options for funding and advancing Haduvio.
• We’ll now examine how the upcoming Phase 2b CORAL data presentation at ATS 2026 could influence Trevi Therapeutics’ existing investment narrative.

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Trevi Therapeutics Investment Narrative Recap

To own Trevi Therapeutics, you need to believe Haduvio can become a first-in-class treatment for chronic cough in fibrotic lung disease, turning today’s losses into future commercial value. In the near term, the most important catalyst remains the Phase III IPF-related chronic cough program, while the biggest risk is that any disappointing efficacy or safety signals limit Haduvio’s adoption. The newly announced ATS 2026 CORAL data presentation looks incremental to this story rather than a material change.

The company’s proposal to double its authorized common shares to 400,000,000 is particularly relevant here, as it directly relates to how Trevi might fund late stage programs if development costs rise or timelines extend. For a business with no current revenue and multiple global trials planned in parallel, the ability to issue new equity more easily could influence how investors weigh the upside from upcoming Haduvio data against the risk of future dilution.

Yet while the upside case centers on Haduvio’s promise, investors should also recognize the financing risk that could emerge if trial costs, timelines or regulatory expectations shift...

Trevi Therapeutics' narrative projects $25.8 million revenue and $5.2 million earnings by 2029. This requires yearly revenue growth from no current revenue and a $48.0 million earnings increase from -$42.8 million today.

Uncover how Trevi Therapeutics' forecasts yield a $21.64 fair value, a 50% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts, who were modeling about US$335 million of revenue and US$201 million of earnings by 2029, see CORAL and clean interaction data as easing regulatory doubts, while others focus more on how any extra safety or design work could still stretch cash and increase dilution risk; your view on this spread of opinions may change as the ATS 2026 details come through.

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Decide For Yourself

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Trevi Therapeutics research is our analysis highlighting 3 important warning signs that could impact your investment decision.
• Our free Trevi Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Trevi Therapeutics' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.