Is TRVI halal?
Trevi Therapeutics, Inc.
Not halal
Trevi Therapeutics, Inc. did not pass AAOIFI screening. The failed check is shown below.
Checked: 14 October 2026
Exchange
NASDAQ
Price
11.88
Day
-1.90%
Market cap
$1.77B
Industry
Biotechnology
Sector
Healthcare
What the company does
Trevi Therapeutics develops Haduvio (extended-release nalbuphine) for chronic cough in pulmonary fibrosis and unexplained cough, in trials. No revenue; funded by investors.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $0 ÷ 36-month average market cap $847.84M = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $318.87M ÷ 36-month average market cap $847.84M = 37.6%
37.6%
Fail
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $1.77B.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $18.65
- Viking Global Investors$28.8M0.1%
Halal stocks in the same industry
The largest halal stocks in Biotechnology — for comparison.
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.