Trevi Therapeutics Inc. (NASDAQ: TRVI) jumped 25% as investors reacted positively to the company’s SEC filing. According to the SEC filing, Trevi Therapeutics has applied for a Registration Statement withdrawal that was initially filed with the US SEC on August 27, 2021.
The company had filed the statement in connection with its proposed public offering for its ordinary shares, par value $0.001 per share. However, Trevi Therapeutics has decided not to pursue the public offering for now.
The commission is yet to declare the registration statement effective, and the company hasn’t sold any shares so far pursuant to the registration statement. The company has requested an order permitting withdraw of this Registration Statement from the US SEC as soon as possible.
Recently the company announced an $11.8 million at-the-market private placement. The company will use proceeds from the placement to fund haduvio development in chronic pruritus. With these developments, TRVI is worth keeping an eye on.
Market Reaction:
On Monday, TRVI stock up 23.97% at $1.5000 with more than 12 million shares, compared to its average volume of 77k shares. The stock has moved within a range of $1.3100 – 1.6500 after opening the trade at $1.5300.
