Travere Therapeutics Inc Stock Price, News & Analysis

Travere Therapeutics (NASDAQ: TVTX) announced that CFO Laura Clague will retire in August 2022 after seven years, transitioning to an advisory role until 2023. Chris Cline, current SVP of Investor Relations & Corporate Communications, will succeed her, effective the same month. CEO Eric Dube praised Clague's contributions that established a strong financial position for the company. Cline, a finance expert with over 15 years in the industry, is expected to enhance the company’s growth phase and strengthen its commitment to the rare disease community.

Travere Therapeutics (NASDAQ: TVTX) announced on April 10, 2022, that its Compensation Committee granted 13 new employees inducement equity grants. These grants consist of 51,750 restricted stock units (RSUs), which are tied to the company’s 2018 Equity Incentive Plan. The RSUs will vest over four years, with 25% vesting each year, contingent on the employees maintaining their service relationship with the company. This initiative aims to attract talent crucial for advancing Travere's mission in rare disease therapies.

Travere Therapeutics (NASDAQ: TVTX) announced the presentation of data from its ongoing Phase 1/2 COMPOSE Study of pegtibatinase, an investigational enzyme replacement therapy for classical homocystinuria (HCU), at two significant conferences. The SIMD 43rd Annual Meeting will take place from April 10-13, 2022, in Orlando, FL, while the 2022 GMDI Conference is scheduled for May 4-7, 2022, in Lake Las Vegas, NV. Initial results have shown a 55.1% mean reduction in total homocysteine levels. Current HCU treatments are limited, highlighting the need for innovative therapies like pegtibatinase.

Eikon Therapeutics has appointed Dr. Roy D. Baynes as Executive Vice President and Chief Medical Officer, effective July 11, 2022. Dr. Baynes, a distinguished oncologist with extensive experience, previously held senior roles at Merck and Amgen, contributing to the development of significant drugs like Keytruda. He will lead the company's clinical research and development, leveraging Eikon's advanced technologies in drug discovery. This appointment aims to strengthen Eikon's ability to deliver innovative therapies for serious illnesses.

Travere Therapeutics (NASDAQ: TVTX) announced the submission of a New Drug Application (NDA) for accelerated approval of sparsentan to the FDA for treating IgA nephropathy (IgAN). This marks a significant milestone aimed at addressing the unmet need for effective treatments for this rare kidney disease. The NDA is supported by positive interim results from the pivotal Phase 3 PROTECT Study, which involved 404 patients and showed a 49.8% reduction in proteinuria. The company anticipates updates from the FDA regarding the NDA acceptance by May 2022.

Travere Therapeutics (NASDAQ: TVTX) announced the grant of inducement equity awards totaling 58,000 shares to eight new employees. The grant includes 25,000 stock options and 33,000 restricted stock units (RSUs), aimed to attract talent in accordance with Nasdaq regulations. The stock options have an exercise price of $25.42 and will vest over four years, while the RSUs will also vest in four annual installments. This strategic move underscores Travere’s commitment to building its workforce to advance rare disease therapies.

Travere Therapeutics (Nasdaq: TVTX) announced the pricing of its underwritten offering of $275 million in 2.25% convertible senior notes due 2029. The offering, which is set to close on March 11, 2022, was increased from an initial $250 million. Travere aims to use around $207.1 million of the net proceeds to repurchase outstanding 2025 convertible notes. The net proceeds are estimated at approximately $266.3 million, potentially rising to $306.3 million if the underwriters exercise their over-allotment option. The notes are convertible under specific conditions and may not be redeemed until March 2, 2026.

Travere Therapeutics (Nasdaq: TVTX) announced a proposed offering of $250 million in convertible senior notes due 2029, with a possibility of an additional $37.5 million for over-allotments. The company intends to use a portion of the proceeds to repurchase some of its outstanding 2.50% senior convertible notes due 2025. The notes will be senior unsecured obligations and will accrue interest payable semiannually. The offering has been registered under the Securities Act of 1933, with further details available in the preliminary prospectus filed with the SEC.

Travere Therapeutics (NASDAQ: TVTX) will present at the Barclays Global Healthcare Conference on March 17, 2022, at 8:30 a.m. ET. A live webcast can be accessed at this link, with an archived replay available for 30 days. Travere is dedicated to helping patients with rare diseases by providing urgent treatment options and collaborating with the rare disease community to develop impactful therapies. For more information, visit travere.com.