Why Trevi Therapeutics Shares Trading Higher Today?

Trevi Therapeutics Inc TRVI has announced positive results from its Phase 2b/3 PRISM trial of Haduvio in treating prurigo nodularis, a chronic disease characterized by severe pruritus and the presence of nodules, lesions, and excoriations.
In the trial, results comparing subjects randomized to Haduvio monotherapy (n=168) or placebo (n=176) showed that 25% of Haduvio subjects evaluated at week 14 met the primary endpoint of a 4-point reduction in WI-NRS from baseline compared to 14% of placebo subjects.
Haduvio subjects experienced significantly greater improvements in ItchyQoL vs. placebo.
55% of Haduvio subjects saw at least a 1-category improvement in the 5-point scale in their Prurigo Activity Scale (PAS) (pruriginous lesions with excoriations), vs. 38% on placebo.
The safety results of the trial were generally consistent with the known safety profile of Haduvio from previous trials.
Earlier this year, the company reported encouraging interim data from the Phase 2 CANAL trial of Haduvio in idiopathic pulmonary fibrosis patients suffering from chronic cough.
Price Action: TRVI shares are up 36.6% at $2.76 during the premarket session on the last check Wednesday.