Jul. 20 at 9:58 PM
BMO Capital🏁
$TRVI and said -- We initiate coverage of Trevi Therapeutics with an Outperform rating and
$36 target.
$RHHBY VRNA -
$MRK 𝑮̶𝑺̶𝑲̶
BMO Capital added—Our positive view is based on:
1) Haduvio's potentially first-in-class opportunity in IPF-related chronic cough, supported by clean Phase 2b CORAL data;
2) a differentiated central-plus-peripheral mechanism that may support best-in-class efficacy,
3) a coherent franchise strategy across IPF-CC, non-IPF ILD-CC, and refractory chronic cough; and
4) a defined late-stage development path, strong IP position, and balance sheet that support execution into pivotal data.
Haduvio gives Trevi a credible path to lead in IPF-related chronic cough, a high-burden market with no approved therapies.
