10:33 AM EST, 12/16/2024 (MT Newswires) -- Trevi Therapeutics ( TRVI ) said Monday it has priced an underwritten offering of 12.5 million common shares at $4.00 each for gross proceeds of $50 million.

The offering is expected to close Tuesday, pending the fulfillment of customary closing conditions, and includes participation from investors including Adage Capital Partners, Frazier Life Sciences, Logos Capital, MPM BioImpact, Rubric Capital and Vivo Capital, Trevi said.

Shares of the clinical stage biopharmaceutical company were up 3.8% in recent Monday trading.

Price: 4.33, Change: +0.16, Percent Change: +3.84