Trevi spikes as B. Riley reportedly cites deal prospects

Trevi Therapeutics (NASDAQ:TRVI), a clinical-stage biopharma focused on treatments for cough conditions, traded higher on Wednesday after B. Riley, with a Buy rating, reportedly highlighted the company’s deal prospects following the recent departure of its CFO.

“We are going to a nice post-Labor Day period toward the end of the year where deals should happen, and with the CFO departure, people can read it however they want,” analyst Mayank Mamtani said in an interview, according to Bloomberg News.

His comments came days after Trevi’s (NASDAQ:TRVI) former CFO Lisa Delfini resigned from the company on Aug. 22, and CEO Jennifer Good took over her responsibilities as the principal financial officer on an interim basis until a successor is found.

Mamtani also highlighted the TRVI's lead asset, Haduvio, which he said could be “the most advanced, highly derisked, Ph3-ready program" for various forms of severe chronic cough if a rival product that GSK (GSK) added with its Bellus buyout in 2023 fails.