Travere Therapeutics Inc Stock Price, News & Analysis

SAN DIEGO, March 14, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics (NASDAQ: TVTX) announced its participation in the 2023 Society for Inherited Metabolic Disorders (SIMD) Annual Meeting and the ACMG Annual Clinical Genetics Meeting. The company will present a quantitative systems pharmacology model for pegtibatinase, an investigational treatment for classical homocystinuria (HCU), alongside real-world data on HCU prevalence. Presentations include a poster on the development of a patient identification algorithm, and incidence estimates from the gnomAD database. Pegtibatinase has received multiple FDA designations aimed at facilitating its development.

Travere Therapeutics (Nasdaq: TVTX) has successfully completed its underwritten public offering, selling 9.7 million shares of common stock at $21.00 per share, along with 1.25 million pre-funded warrants at $20.9999 per warrant. The offering generated approximately $230 million in gross proceeds, including the full exercise of underwriters’ options. The shares were sold under a shelf registration statement effective since September 3, 2021, with Jefferies, J.P. Morgan, BofA Securities, and SVB Securities serving as joint book-running managers. This offering is part of Travere's strategy to enhance its financial position for future developments.

Travere Therapeutics has announced a public offering of 8,275,000 shares at $21.00 per share and 1,250,000 pre-funded warrants at $20.9999. Expected gross proceeds are approximately $200 million, before deductions. The offering is set to close on March 3, 2023, subject to closing conditions. Underwriters have a 30-day option to purchase an additional 1,428,750 shares. The offering is part of a shelf registration statement filed with the SEC. The company aims to assist patients with rare diseases through this funding.

Travere Therapeutics (Nasdaq: TVTX) has announced plans to conduct an underwritten public offering of $175 million of its common stock. The offering will be managed by Jefferies, J.P. Morgan, BofA Securities, and SVB Securities, who also have an option to purchase an additional 15% of the offered shares. This move follows a shelf registration statement that became effective on September 3, 2021. The offering details are subject to market conditions and certain customary closing conditions. Travere has indicated no assurance regarding the offering's completion or its specific terms.

Travere Therapeutics (NASDAQ: TVTX) announced the U.S. FDA accelerated approval of FILSPARI™ (sparsentan) for reducing proteinuria in adult patients with IgA nephropathy (IgAN) at risk of rapid disease progression, marking a significant milestone for the company. In 2022, net product sales reached $52 million in Q4 and $201 million for the full year, though sales declined from 2021 levels. R&D expenses rose to $235.8 million for 2022, driven by clinical program advancements. The company anticipates critical data releases in 2023, including confirmatory endpoints for sparsentan in both IgAN and focal segmental glomerulosclerosis (FSGS).

Travere Therapeutics has received accelerated approval from the FDA for FILSPARI™ (sparsentan), the first dual endothelin and angiotensin receptor antagonist, to reduce proteinuria in adults with IgA nephropathy at risk of rapid disease progression. Interim results from the Phase 3 PROTECT Study indicated a significant 49.8% reduction in proteinuria compared to 15.1% for irbesartan. The approval allows for an expanded indication, targeting approximately 30,000-50,000 patients in the U.S. Market availability is anticipated by February 27, 2023. Confirmatory trial results are expected in Q4 2023, which will further assess kidney function decline.

Travere Therapeutics (NASDAQ: TVTX) announced it will report its fourth quarter and full year 2022 financial results on February 23, 2023, post-market close. A business update will follow during a webcast at 4:30 p.m. ET on the same day. Investors can access information via the Investor page on Travere's website, and an archived call will be available for 30 days. The company emphasizes its commitment to aiding patients with rare diseases by developing life-changing therapies.

Travere Therapeutics (NASDAQ: TVTX) announced on February 10, 2023, that its Compensation Committee granted inducement equity grants to six new employees, totaling 17,700 restricted stock units (RSUs). These RSUs, part of Travere's 2018 Equity Incentive Plan, were awarded outside the plan as an inducement for the new hires, as per Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting annually, contingent on the employees’ continued service with the company.

Travere Therapeutics, Inc. (NASDAQ: TVTX) announced its participation in two significant upcoming conferences. The SVB Securities Global Biopharma Conference is scheduled for February 15, 2023, at 3:00 p.m. ET, followed by the Barclays Global Healthcare Conference on March 15, 2023, at 11:15 a.m. ET. Live webcasts of each presentation will be available on Travere's Investor page, with replays accessible for up to 30 days post-event. Travere is dedicated to developing therapies for patients facing rare diseases, focusing on their urgent treatment needs and striving to offer hope through innovative solutions.