Do Trevi Therapeutics’ (TRVI) CORAL Data and GSK’s Exit Reframe Its Chronic Cough Ambitions?

• Trevi Therapeutics recently reported that its Phase 2b CORAL trial of Haduvio (nalbuphine ER) in idiopathic pulmonary fibrosis-related chronic cough showed early, sustained improvements in patient-reported outcomes and was accepted for oral presentation at the CHEST 2026 Annual Meeting.

• These data, released as GSK halted development of its late-stage chronic cough candidate camlipixant, put fresh attention on Trevi's differentiated neuromodulator approach and its advancing OCEAN and LAKE trials across chronic cough indications.

• We'll now examine how Trevi's promising CORAL results, alongside GSK's discontinuation of camlipixant, could reshape the company's chronic cough investment story.

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Trevi Therapeutics Investment Narrative Recap

To own Trevi Therapeutics, you need to believe Haduvio can convert its chronic cough data into successful late stage trials across IPF and related indications. The key near term catalyst is now the OCEAN Phase 3 IPF chronic cough program, while the biggest risk remains any setback or delay across these pivotal studies. GSK stepping away from camlipixant highlights the difficulty of this space but does not remove Trevi's core clinical and regulatory execution risks.

Among recent announcements, Trevi's report of US$319 million in cash at the end of Q2 2026, with runway into 2030, looks especially relevant. It gives the company room to fund OCEAN-1, OCEAN-2 and LAKE alongside follow up on the CORAL signal without immediately returning to capital markets, though longer trials and potential design changes could still alter that picture and affect timing for key data readouts.

Yet investors should still be aware that if Haduvio's larger trials fail to echo CORAL's early signals, the company's dependence on a single asset could...

Read the full narrative on Trevi Therapeutics (it's free!)

Trevi Therapeutics' narrative projects $41.9 million revenue and $9.2 million earnings by 2029. This implies an earnings increase of about $60 million from -$51.1 million today.

Uncover how Trevi Therapeutics' forecasts yield a $28.18 fair value , a 118% upside to its current price.

Exploring Other Perspectives

Before this news, the most optimistic analysts were modeling about US$334.8 million of revenue and US$201.3 million of earnings by 2029, so compared with the baseline focus on funding runway and trial risk, that is a far more upbeat view of how quickly CORAL, OCEAN and LAKE could translate into value for you and it may well be revised as this new chronic cough data is digested.