# EDGAR Filing Document

**Accession Number:** 0001802528
**File Stem:** 0001104659-23-021440
**Filing Date:** 2023-2
**Character Count:** 31706
**Document Hash:** a13c797368481bd06187dcae0985a808
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-021440.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001104659-23-021440

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**GROUP MEMBERS**: FAIRMOUNT HEALTHCARE FUND II L.P.

**GROUP MEMBERS**: PETER HARWIN

**GROUP MEMBERS**: TOMAS KISELAK

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Trevi Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0001563880
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 450834299
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91005
- **FILM NUMBER:** 23628180

**BUSINESS ADDRESS:**
- **STREET 1:** 195 CHURCH STREET
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW HAVEN
- **STATE:** CT
- **ZIP:** 06510
- **BUSINESS PHONE:** 203-304-2499

**MAIL ADDRESS:**
- **STREET 1:** 195 CHURCH STREET
- **STREET 2:** 14TH FLOOR
- **CITY:** NEW HAVEN
- **STATE:** CT
- **ZIP:** 06510
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fairmount Funds Management LLC
- **CENTRAL INDEX KEY:** 0001802528
- **IRS NUMBER:** 364841215
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 200 BARR HARBOR DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428
- **BUSINESS PHONE:** 267-262-5300

**MAIL ADDRESS:**
- **STREET 1:** 200 BARR HARBOR DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428

------

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

------

**SCHEDULE 13G**

**Under the Securities Exchange Act of 1934**

**(Amendment No. 1)\***

------

**TREVI THERAPEUTICS, INC.**

**(Name of Issuer)**

**Common Stock, Par Value $0.001**

**(Title of Class of Securities)**

**89532M101**

**(CUSIP Number)**

**December 31, 2022**

**(Date of Event Which Requires Filing of This Statement)**

------

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

◻ Rule 13d-1(b)

⌧ Rule 13d-1(c)

◻ Rule 13d-1(d)

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 89532M101

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;1. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Funds Management LLC | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Funds Management LLC | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Funds Management LLC |
| &nbsp;&nbsp;&nbsp;2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ |
| &nbsp;&nbsp;&nbsp;3. | SEC Use Only | SEC Use Only | SEC Use Only |
| &nbsp;&nbsp;&nbsp;4. | Citizenship or Place of Organization<br>Delaware | Citizenship or Place of Organization<br>Delaware | Citizenship or Place of Organization<br>Delaware |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 5. | Sole Voting Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 6. | Shared Voting Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 7. | Sole Dispositive Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 8. | Shared Dispositive Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp;9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ |
| &nbsp;&nbsp;&nbsp;11. | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

---

(1) The shares reported herein for the Reporting Person represent (i) 5,696,515 shares of the Issuer's Common Stock held by Fairmount
Healthcare Fund LP and Fairmount Healthcare Fund II LP (the "Funds") and (ii) 321,950 shares of the Issuer's Common
Stock the Funds have the right to acquire through the exercise of pre-funded warrants ("Pre-Funded Warrants"). The Pre-Funded
Warrants are exercisable for a total of 4,399,201 shares but contain a provision (the "Beneficial Ownership Limitation") which
precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties,
would own more than 9.99% of the Common Stock outstanding. As a result, as of the date of this filing, the Reporting Person is prohibited
from exercising the warrants to the extent that exercise would result in ownership of more than 6,018,465 shares of Common Stock.

(2) The number of shares outstanding for purposes of this percentage calculation assumes (i) 59,922,945 shares of the Issuer's Common
Stock outstanding as of November 10, 2022, as reported in the Issuer's Form 10-Q filed with the SEC on November 10, 2022, plus (ii)
321,950 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise of Pre-Funded Warrants,
as constrained by the Beneficial Ownership Limitation.

CUSIP No. 89532M101

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;1. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Peter Harwin | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Peter Harwin | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Peter Harwin |
| &nbsp;&nbsp;&nbsp;2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ |
| &nbsp;&nbsp;&nbsp;3. | SEC Use Only | SEC Use Only | SEC Use Only |
| &nbsp;&nbsp;&nbsp;4. | Citizenship or Place of Organization<br>United States | Citizenship or Place of Organization<br>United States | Citizenship or Place of Organization<br>United States |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 5. | Sole Voting Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 6. | Shared Voting Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 7. | Sole Dispositive Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 8. | Shared Dispositive Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp;9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ |
| &nbsp;&nbsp;&nbsp;11. | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

(1) The shares reported herein for the Reporting Person represent (i) 5,696,515 shares of the Issuer's Common Stock held by Fairmount
Healthcare Fund LP and Fairmount Healthcare Fund II LP (the "Funds") and (ii) 321,950 shares of the Issuer's Common
Stock the Funds have the right to acquire through the exercise of pre-funded warrants ("Pre-Funded Warrants"). The Pre-Funded
Warrants are exercisable for a total of 4,399,201 shares but contain a provision (the "Beneficial Ownership Limitation") which
precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties,
would own more than 9.99% of the Common Stock outstanding. As a result, as of the date of this filing, the Reporting Person is prohibited
from exercising the warrants to the extent that exercise would result in ownership of more than 6,018,465 shares of Common Stock.

(2) The number of shares outstanding for purposes of this percentage calculation assumes (i) 59,922,945 shares of the Issuer's Common
Stock outstanding as of November 10, 2022, as disclosed on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on
November 10, 2022, plus (ii) 321,950 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise
of Pre-Funded Warrants, as constrained by the Beneficial Ownership Limitation.

CUSIP No. 89532M101

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;1. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Tomas Kiselak | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Tomas Kiselak | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Tomas Kiselak |
| &nbsp;&nbsp;&nbsp;2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ |
| &nbsp;&nbsp;&nbsp;3. | SEC Use Only | SEC Use Only | SEC Use Only |
| &nbsp;&nbsp;&nbsp;4. | Citizenship or Place of Organization<br>Slovak Republic | Citizenship or Place of Organization<br>Slovak Republic | Citizenship or Place of Organization<br>Slovak Republic |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 5. | Sole Voting Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 6. | Shared Voting Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 7. | Sole Dispositive Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 8. | Shared Dispositive Power<br>6,018,465<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp;9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6,018,465<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ |
| &nbsp;&nbsp;&nbsp;11. | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.9%<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

(1) The shares reported herein for the Reporting Person represent (i) 5,696,515 shares of the Issuer's Common Stock held by Fairmount
Healthcare Fund LP and Fairmount Healthcare Fund II LP (the "Funds") and (ii) 321,950 shares of the Issuer's Common
Stock the Funds have the right to acquire through the exercise of pre-funded warrants ("Pre-Funded Warrants"). The Pre-Funded
Warrants are exercisable for a total of 4,399,201 shares but contain a provision (the "Beneficial Ownership Limitation") which
precludes exercise of the warrants to the extent that, following exercise, the Reporting Person, together with its attribution parties,
would own more than 9.99% of the Common Stock outstanding. As a result, as of the date of this filing, the Reporting Person is prohibited
from exercising the warrants to the extent that exercise would result in ownership of more than 6,018,465 shares of Common Stock.

(2) The number of shares outstanding for purposes of this percentage calculation assumes (i) 59,922,945 shares of the Issuer's Common
Stock outstanding as of November 10, 2022, as disclosed on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on
November 10, 2022, plus (ii) 321,950 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise
of Pre-Funded Warrants, as constrained by the Beneficial Ownership Limitation.

CUSIP No. 89532M101

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;1. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Healthcare Fund II L.P. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Healthcare Fund II L.P. | Names of Reporting Persons<br> I.R.S. Identification No. of Above Persons (Entities Only)<br>Fairmount Healthcare Fund II L.P. |
| &nbsp;&nbsp;&nbsp;2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ | Check the Appropriate Box if a Member of a Group (See Instructions)<br> (a) ◻ (b) ◻ |
| &nbsp;&nbsp;&nbsp;3. | SEC Use Only | SEC Use Only | SEC Use Only |
| &nbsp;&nbsp;&nbsp;4. | Citizenship or Place of Organization<br>Delaware | Citizenship or Place of Organization<br>Delaware | Citizenship or Place of Organization<br>Delaware |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 5. | Sole Voting Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 6. | Shared Voting Power<br>5,833,594<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 7. | Sole Dispositive Power<br>0<br>|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially<br> Owned by<br> Each<br> Reporting<br> Person<br> With | 8. | Shared Dispositive Power<br>5,833,594<sup>(1)</sup><br>|
| &nbsp;&nbsp;&nbsp;9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5,833,594<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5,833,594<sup>(1)</sup> | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5,833,594<sup>(1)</sup> |
| &nbsp;&nbsp;&nbsp;10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ◻ |
| &nbsp;&nbsp;&nbsp;11. | Percent of Class Represented by Amount in Row (9)<br>9.7%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.7%<sup>(2)</sup> | Percent of Class Represented by Amount in Row (9)<br>9.7%<sup>(2)</sup> |
| &nbsp;&nbsp;&nbsp;12. | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN | Type of Reporting Person (See Instructions)<br>PN |

---

(1) The shares reported herein for the Reporting Person represent (i) 5,511,644 directly owned shares of the Issuer's Common Stock and
(ii) 321,950 shares of the Issuer's Common Stock the Funds have the right to acquire through the exercise of pre-funded warrants
("Pre-Funded Warrants"). The Pre-Funded Warrants are exercisable for a total of 3,298,947 shares but contain a provision (the
 "Beneficial Ownership Limitation") which precludes exercise of the warrants to the extent that, following exercise, the Reporting
Person, together with its attribution parties, would own more than 9.99% of the Common Stock outstanding. As a result, as of the date
of this filing, the Reporting Person is prohibited from exercising the warrants to the extent that exercise would result in ownership
of more than 5,833,594 shares of Common Stock.

(2) The number of shares outstanding for purposes of this percentage calculation assumes (i) 59,922,945 shares of the Issuer's Common
Stock outstanding as of November 10, 2022, as disclosed on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on
November 10, 2022, plus (ii) 321,950 shares of Common Stock of which the Reporting Person may acquire beneficial ownership upon the exercise
of Pre-Funded Warrants, as constrained by the Beneficial Ownership Limitation.

**Item 1.**

(a) **Name of Issuer:** Trevi Therapeutics, Inc.

(b) **Address of Issuer's Principal Executive Offices:** 195 Church Street, 14th Floor, New Haven, CT 06510.

**Item 2.**<br>This Amendment No. 1 to Schedule 13G amends and restates the statements on Schedule 13G originally filed on April 21, 2022.<br>

(a) **Name of Person(s) Filing:** This joint statement on Schedule 13G is being filed by Fairmount Funds Management LLC ("Fairmount"), Peter Harwin, Tomas Kiselak,
and Fairmount Healthcare Fund II L.P. ("Fund II") (collectively, the "Reporting Persons"). The Common Stock reported herein includes Common Stock beneficially owned directly by Fairmount Healthcare Fund L.P. (the "Fund")
and Common Stock beneficially owned directly by Fund II. Fairmount Healthcare Fund GP LLC is the general partner of the Fund. Fairmount
Healthcare Fund II GP LLC is the general partner of Fund II. The controlling persons of Fairmount are Mr. Harwin and Mr. Kiselak. Fairmount
serves as investment adviser for the Fund and Fund II (collectively, the "Funds") and may be deemed a beneficial owner, for
purposes of Section 13(d) of the Act, of any securities of the Issuer held by the Funds. The Funds have delegated to Fairmount the sole
power to vote and the sole power to dispose of all securities held in the Funds' portfolios, including the shares of the Issuer's
Common Stock reported herein. Because the Funds have divested voting and investment power over the reported securities and cannot revoke
such delegation on less than 61 days' notice, the Funds disclaim beneficial ownership of the securities for purposes of Section
13(d) of the Act and therefore disclaim any obligation to report ownership of the reported securities under Section 13(d) of the Act.
As managing members of Fairmount, Mr. Harwin and Mr. Kiselak may be deemed beneficial owners, for purposes of Section 13(d) of the Act,
of any securities of the Issuer beneficially owned by Fairmount. Fairmount, Mr. Harwin, and Mr. Kiselak disclaim beneficial ownership
of the securities reported in this Schedule 13G Statement (the "Statement") other than for the purpose of determining their
obligations under Section 13(d) of the Act, and the filing of the Statement shall not be deemed an admission that any of Fairmount, Mr.
Harwin, or Mr. Kiselak is the beneficial owner of such securities for any other purpose.

(b) **Address of Principal Business Office:** The principal business office of the Reporting Persons is c/o Fairmount Funds Management LLC, 200 Barr Harbor Drive, Suite 400, West Conshohocken, PA 19428.

(c) **Citizenship:** Fairmount is a Delaware limited liability
company. Mr. Harwin is a United States citizen. Mr. Kiselak is a Slovak Republic citizen.

(d) **Title of Class of Securities:** Common stock, Par Value $0.001
("Common Stock")

---

| | | |
|:---|:---|:---|
|  | (e) | **CUSIP Number:** 89532M101<br>|
| **Item 3.** | **Item 3.** | **If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:** |

---

Not applicable.

(a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);

(k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: _______________.

**Item 4.** **Ownership**

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount Beneficially Owned:

The Fund holds (i) 184,871 shares of Common Stock, (ii) pre-funded warrants issued on April 11, 2022 with the right to acquire 123,907 shares of Common Stock, and (iii) pre-funded warrants issued on September 27, 2022 with the right to acquire 31,686 shares of Common Stock. Fund II holds (i) 5,511,644 shares of Common Stock, (ii) pre-funded warrants issued on April 11, 2022 with the right to acquire 3,298,947 shares of Common Stock, and (iii) pre-funded warrants issued on September 27, 2022 with the right to acquire 944,661 shares of Common Stock. Together, the April 11, 2022-issued and the September 27, 2022-issued pre-funded warrants are referred to herein as the "Pre-Funded Warrants." The terms of the Pre-Funded Warrants provide that no holder of Pre-Funded Warrants shall be entitled to exercise any portion of the Pre-Funded Warrants held by such holder, if, upon giving effect to such exercise, the holder (together with its affiliates and attribution parties) would beneficially own more than 9.99% of the Common Stock outstanding immediately after giving effect to the exercise.

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|:---|:---|
| (b) | Percent of Class: |
|  | See the response(s) to Item 11 on the attached cover page(s). |

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(c) Number of shares as to which such person has:

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|:---|:---|
| (i) | sole power to vote or to direct the vote: |
|  | See the response(s) to Item 5 on the attached cover page(s). |

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|:---|:---|
| (ii) | shared power to vote or to direct the vote |
|  | See the response(s) to Item 6 on the attached cover page(s). |

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(iii) sole power to dispose or to direct the disposition of <br> See the response(s) to Item 7 on the attached cover page(s).

(iv) shared power to dispose or to direct the disposition of <br> See the response(s) to Item 8 on the attached cover page(s).

**Item 5.** **Ownership of Five Percent or Less of a Class**

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ◻.

**Item 6.** **Ownership of More than Five Percent on Behalf of Another Person**

Not applicable.

**Item 7.** **Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person**

Not applicable.

**Item 8.** **Identification and Classification of Members of the Group**

Not applicable.

**Item 9.** **Notice of Dissolution of Group**

Not applicable.

**Item 10.** **Certification**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

**Signature**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 14, 2023

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| | | |
|:---|:---|:---|
| **FAIRMOUNT FUNDS MANAGEMENT LLC** | **FAIRMOUNT FUNDS MANAGEMENT LLC** | **FAIRMOUNT FUNDS MANAGEMENT LLC** |
| By: | /s/ Peter Harwin | /s/Tomas Kiselak<br>|
| Name: | Peter Harwin | Tomas Kiselak |
| Title: | Managing Member | Managing Member |

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| | |
|:---|:---|
| **PETER HARWIN** | **PETER HARWIN** |
| By: | /s/ Peter Harwin |

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| | |
|:---|:---|
| **TOMAS KISELAK** | **TOMAS KISELAK** |
| By: | /s/Tomas Kiselak |

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| | | |
|:---|:---|:---|
| **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** | **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** | **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** |
| By: | /s/ Peter Harwin | /s/Tomas Kiselak<br>|
| Name: | Peter Harwin | Tomas Kiselak |
| Title: | Member | Member |

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**Exhibit A** 

**Joint Filing Agreement**

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned and each other person executing this joint filing agreement (this "Agreement") agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;(i) The undersigned and each other person executing this Agreement are individually eligible to use the Schedule 13G to which this Exhibit is attached and such Schedule 13G is filed on behalf of the undersigned and each other person executing this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii) The undersigned and each other person executing this Agreement are responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of the undersigned or any other person executing this Agreement is responsible for the completeness or accuracy of the information statement concerning any other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, taken together, shall constitute one and the same instrument.

Dated: February 14, 2023

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| | | |
|:---|:---|:---|
| **FAIRMOUNT FUNDS MANAGEMENT LLC** | **FAIRMOUNT FUNDS MANAGEMENT LLC** | **FAIRMOUNT FUNDS MANAGEMENT LLC** |
| By: | /s/ Peter Harwin | /s/Tomas Kiselak<br>|
| Name: | Peter Harwin | Tomas Kiselak |
| Title: | Managing Member | Managing Member |

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| | |
|:---|:---|
| **PETER HARWIN** | **PETER HARWIN** |
| By: | /s/ Peter Harwin |

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| | |
|:---|:---|
| **TOMAS KISELAK** | **TOMAS KISELAK** |
| By: | /s/Tomas Kiselak |

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| | | |
|:---|:---|:---|
| **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** | **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** | **FAIRMOUNT HEALTHCARE FUND II L.P.**<br> **By: Fairmount Healthcare Fund II GP LLC** |
| By: | /s/ Peter Harwin | /s/Tomas Kiselak<br>|
| Name: | Peter Harwin | Tomas Kiselak |
| Title: | Member | Member |

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