Trevi Therapeutics Announces Appointment of David Hastings as Chief Financial Officer

Rhea-AI Summary

Trevi Therapeutics (Nasdaq: TRVI) announced that David Hastings will become Chief Financial Officer effective January 6, 2026.

Mr. Hastings brings over 25 years of life‑science financial leadership, having raised more than $2B in equity and debt and held CFO roles at Arbutus, Unilife, Incyte, and ArQule. He served as CFO during Incyte's commercialization of Jakafi and co‑led out‑licensing negotiations; he currently chairs the audit committee at Scynexis.

Management says Hastings will help guide Trevi as it advances Haduvio (oral nalbuphine ER) into Phase 3 development for chronic cough in IPF, non‑IPF ILD, and RCC, citing statistically significant data, limited competition, and a strong cash position.

Positive

• CFO appointment effective Jan 6, 2026
• Executive experience spanning 25 years in life sciences
• Raised over $2B in equity and debt financings
• Company advancing Haduvio into Phase 3 development
• Statistically significant clinical data across indications

Negative

• None.

News Market Reaction – TRVI

-1.68%

1 alert

-1.68% News Effect

On the day this news was published, TRVI declined 1.68%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Financing raised: over $2B Experience: over 25 years CFO start date: January 6, 2026 +5 more

8 metrics

Financing raised over $2B Equity and debt financing raised by new CFO in prior roles

Experience over 25 years Financial leadership in public life sciences and biopharma companies

CFO start date January 6, 2026 Effective date for David Hastings as Trevi CFO

Cash & securities $194.9 million Cash, cash equivalents and marketable securities at end of Q3 2025

Cash runway into 2028 Runway guidance from Q3 2025 update

Q3 2025 net loss $11.8 million Net loss for the quarter ended September 30, 2025

Current share price $13.17 Pre-news market context, <b>9.08%</b> above prior close

Market capitalization $1,817,020,999 Equity value based on pre-news price

Market Reality Check

Price: $11.92 Vol: Volume 2,591,229 is 1.11x...

normal vol

$11.92 Last Close

Volume Volume 2,591,229 is 1.11x the 20-day average of 2,334,375. normal

Technical Shares at $13.17 are trading above the 200-day MA of $7.83 and 8.48% below the 52-week high.

Peers on Argus

TRVI gained 9.08% while close peers DNTH (-5.24%), ELVN (-6.1%), GPCR (-2.68%), ...

TRVI gained 9.08% while close peers DNTH (-5.24%), ELVN (-6.1%), GPCR (-2.68%), and LENZ (-1.88%) were down, and TRML was flat, indicating a stock-specific move rather than a sector-wide shift.

Historical Context

5 past events · Latest: Dec 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	CFO appointment	Positive	-1.0%	Veteran biotech CFO named to guide Trevi’s next growth phase.
Nov 13	Earnings and update	Neutral	-3.3%	Q3 results, strong cash balance, and plans for Phase 3 IPF program.
Nov 06	Earnings call notice	Neutral	+0.0%	Announcement of Q3 2025 results call and webcast logistics.
Nov 04	Conference participation	Positive	+1.5%	Participation in Stifel 2025 Healthcare Conference and investor meetings.
Oct 08	Clinical presentations	Positive	+2.8%	Presentations of CORAL and RIVER trial data at CHEST 2025.

Pattern Detected

Recent TRVI news has typically seen aligned or modestly positive price reactions, with one divergence where prior coverage of this same CFO appointment coincided with a small decline.

Recent Company History

Over the past few months, Trevi highlighted clinical and financial progress for Haduvio, including Q3 2025 results with $194.9 million in cash and runway into 2028, along with plans for a Phase 3 IPF chronic cough program in H1 2026. Conference participation and scientific presentations at CHEST 2025 supported program visibility. An earlier news event on this same CFO appointment on Dec 4, 2025 coincided with a modest share price decline, making today’s stronger gain a shift versus that initial reaction.

Market Pulse Summary

This announcement centers on Trevi appointing an experienced biotech CFO as it advances Haduvio into...

Analysis

This announcement centers on Trevi appointing an experienced biotech CFO as it advances Haduvio into Phase 3 development for chronic cough in IPF and related indications. Context from recent filings shows a cash position of $194.9 million and a runway into 2028, supporting upcoming trials. Investors may watch how the new CFO manages capital allocation, future financings, and execution of late-stage studies against this balance-sheet backdrop.

Key Terms

idiopathic pulmonary fibrosis, interstitial lung disease, refractory chronic cough, Phase 3

4 terms

idiopathic pulmonary fibrosis medical

"for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF)"

Idiopathic pulmonary fibrosis is a chronic lung disease in which the air‑carrying tissue becomes progressively thickened and scarred for no identifiable reason, making the lungs stiff and less able to move oxygen—similar to a sponge that hardens and loses its pores. It matters to investors because it is life‑limiting with limited effective treatments, so clinical trial outcomes, regulatory approvals, pricing and reimbursement decisions can strongly affect the commercial value of therapies and the financial prospects of companies developing treatments.

interstitial lung disease medical

"non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough"

A group of lung conditions that cause inflammation and scarring of the thin tissue between the air sacs, which makes it harder for oxygen to pass into the blood; imagine the lungs’ fine filters becoming stiff and less effective. Investors care because reports of interstitial lung disease can affect a drug’s safety profile, trigger regulatory warnings or label changes, and shift demand for treatments or create liability risks that influence a company’s valuation.

refractory chronic cough medical

"non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough (RCC)"

A refractory chronic cough is a long-lasting cough that persists despite standard medical evaluation and treatment, typically lasting eight weeks or more and not improving with usual therapies. Investors should care because it represents a clear unmet medical need that can drive demand for new drugs, devices, or diagnostics—similar to a stubborn problem customers keep returning to a store for until a better solution appears—affecting market potential and regulatory attention.

Phase 3 regulatory

"experience as we transition into Phase 3 development and beyond will be critical"

Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.

AI-generated analysis. Not financial advice.

Experienced biotech CFO to lead financial strategy and contribute to the Company's next stage of growth

NEW HAVEN, Conn., Dec. 4, 2025 /PRNewswire/ -- Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine ER) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough (RCC), today announced that David Hastings will assume the role of Chief Financial Officer effective January 6, 2026. 

Mr. Hastings brings over 25 years of financial leadership in public life sciences and biopharmaceutical companies to Trevi. His accomplishments span capital raising, commercialization, business development, and investor relations management. Throughout his career, Mr. Hastings has raised over $2B in equity and debt financing. Most recently, Mr. Hastings was Chief Financial Officer (CFO) at Arbutus from June 2018 until March 2025. Previously, he was Senior Vice President and CFO of Unilife from 2015 until 2017.  Prior to that, he spent the majority of his career as CFO and Executive Vice President at Incyte, a role he held from 2003 to 2014. During his tenure at Incyte, Mr. Hastings oversaw all financial aspects of the company's transition from research and development to commercialization following the launch of Jakafi® (ruxolitinib). He was integral in managing the financial and operational complexities of scaling the company to over 700 individuals. Additionally, he co-led the negotiation of two out-licensing deals for two compounds. Mr. Hastings also previously served as Vice President, CFO and Treasurer at ArQule Inc., where he played an important role in the company's transition into a drug discovery and development organization, and in its two strategic acquisitions, including the purchase of Cyclis Pharmaceuticals Inc. Currently, Mr. Hastings is a Board member and Chair of the Audit Committee of Scynexis, Inc.

"I am thrilled to welcome Dave to the leadership team as we enter an important chapter of growth at Trevi," said Jennifer Good, President and CEO of Trevi Therapeutics. "His proven track record and experience as we transition into Phase 3 development and beyond will be critical as we continue to advance Haduvio for the treatment of chronic cough."

"I am happy to join Trevi as they continue to pioneer a potential treatment option for patients with chronic cough," said David Hastings. "Trevi is at an exciting stage of development with statistically significant data across target indications, limited competition, and a strong cash position. I look forward to leveraging my experience to accelerate its path to long-term value for both patients and shareholders."

About Trevi Therapeutics, Inc.    
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine extended-release) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF), non-IPF interstitial lung disease (non-IPF ILD), and refractory chronic cough (RCC). Haduvio is the first and only investigational therapy to show a statistically-significant reduction in cough frequency in clinical trials across both patients with IPF chronic cough and in patients with RCC. Haduvio acts on the cough reflex arc both centrally and peripherally as a kappa agonist and a mu antagonist (KAMA), targeting opioid receptors that play a key role in controlling chronic cough. Nalbuphine is not currently scheduled by the U.S. Drug Enforcement Agency.

Chronic cough in patients with IPF and non-IPF ILD is a condition with high unmet need and no FDA-approved therapies. There are ~150,000 U.S. patients with IPF, and two-thirds of these patients are faced with uncontrolled chronic cough. Additionally, there are ~228,000 U.S. patients with non-IPF ILD, with 50-60% having uncontrolled chronic cough. The impact of chronic cough is significant, with patients coughing up to 1,500 times per day. This consistent cough, and any associated damage, may lead to a higher risk of morbidity and mortality, including worsening disease, a higher risk of progression, increased respiratory hospitalizations, and a decline in patients' quality of life.   

RCC is a condition with high unmet need and no FDA-approved therapies. RCC is defined as a persistent cough lasting >8 weeks despite treatment for an underlying condition (i.e., asthma, gastroesophageal reflux disease, non-asthmatic eosinophilic bronchitis, upper airway cough syndrome, or post-nasal drip) and includes unexplained chronic cough. There are ~2-3 million U.S. patients with RCC, and it is believed to be associated with cough reflex hypersensitivity involving both the central and peripheral nervous systems. RCC is highly debilitating and may impact patients physically, psychologically, and socially.  

Trevi intends to propose Haduvio as the trade name for oral nalbuphine ER. Its safety and efficacy have not been evaluated by any regulatory authority. 

For more information, visit www.TreviTherapeutics.com and follow Trevi on X (formerly Twitter) and LinkedIn. 

Forward-Looking Statements   
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties and actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding Trevi's business plans and objectives, including future plans or expectations for Haduvio and plans with respect to clinical trials, expectations regarding Trevi's sufficiency of capital, and other statements containing the words "believes," "anticipates," "plans," "expects," and similar expressions. Risks that contribute to the uncertain nature of the forward-looking statements include: uncertainties regarding the success, cost and timing of Trevi's product candidate development activities and clinical trials; the risk that positive data from a clinical trial may not necessarily be predictive of the results of later clinical trials in the same or a different indication; uncertainties regarding Trevi's ability to execute on its strategy; uncertainties with respect to regulatory authorities' views as to the data from Trevi's clinical trials and next steps in the development path for Haduvio in the United States and foreign countries; uncertainties inherent in estimating Trevi's cash runway, future expenses and other financial results, including Trevi's ability to fund future operations, including clinical trials, as well as other risks and uncertainties set forth in the quarterly report on Form 10-Q for the quarter ended September 30, 2025 filed with the Securities and Exchange Commission and in subsequent filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Trevi undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. 

Investor Contact 
Jonathan Carlson 
Trevi Therapeutics, Inc. 
(203) 654 3286 
carlsonj@trevitherapeutics.com   

Media Contact 
Rosalia Scampoli 
914-815-1465 
rscampoli@marketcompr.com  

 

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SOURCE Trevi Therapeutics, Inc.

FAQ

When will David Hastings start as Trevi CFO (TRVI)?

David Hastings will assume the CFO role on January 6, 2026.

What is David Hastings' financial track record joining TRVI?

He has over 25 years of experience and has raised $2B+ in equity and debt.

How does the TRVI management say Hastings will impact Haduvio development?

Management says he will guide financial strategy as Haduvio advances into Phase 3 development.

What clinical indications is Haduvio being developed for at TRVI?

Haduvio is in development for chronic cough in IPF, non‑IPF ILD, and RCC.

Does Trevi (TRVI) cite clinical data in the announcement?

Yes; the company references statistically significant data across target indications.

What recent senior roles did Hastings hold before joining Trevi (TRVI)?

He served as CFO at Arbutus (2018–Mar 2025), SVP/CFO at Unilife, and CFO/EVP at Incyte (2003–2014).