TRVI: Haduvio’s $15B Market Potential and TSMC’s Nalbuphine Supply Risks

Trevi Therapeutics (TRVI) shares surged 9.85% after reporting strong clinical trial results for Haduvio, its chronic cough treatment candidate. The company is targeting a $14-15 billion addressable market for chronic cough, which is expected to grow at a 6% CAGR from $9 billion in 2024. TRVI plans to launch a Phase 2b trial for non-IPF ILD-related chronic cough in the second half of 2026. Hedge funds are increasing exposure ahead of potential approval.

TSMC’s supply chain risks in nalbuphine production, coupled with China-US semiconductor tensions, could disrupt TRVI’s timeline. The reliance on rare earth elements from the US threatens production continuity.