Welcome to our dedicated page for Travere Therapeutics news (Ticker: TVTX), a resource for investors and traders seeking the latest updates and insights on Travere Therapeutics stock.
Travere Therapeutics, Inc. reports developments in rare-disease biopharmaceuticals, with recurring updates on FILSPARI (sparsentan), FDA regulatory actions, commercialization in IgA nephropathy and focal segmental glomerulosclerosis, and financial results. The company focuses on therapies for rare kidney, liver, and metabolic diseases, including sparsentan and the investigational enzyme replacement therapy pegtibatinase.
Company news also covers clinical data presentations, partner-related regulatory and commercial milestones for sparsentan, capital-structure activity, inducement equity grants under Nasdaq rules, and investor-conference participation.
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.
Travere Therapeutics (NASDAQ: TVTX) announced on January 10, 2023, that its Compensation Committee granted inducement equity grants to three new employees.
The grants include stock options for 25,000 shares and restricted stock units (RSUs) for 23,000 shares. The stock options have an exercise price of $20.38 and a 10-year term, vesting over four years, while RSUs also vest over four years. These grants comply with Nasdaq Listing Rule 5635(c)(4) and are designed to attract new talent.
Travere Therapeutics (NASDAQ: TVTX) is set for a pivotal year in 2023, anticipating FDA approval for sparsentan for IgA nephropathy (IgAN) by February 17, followed by EMA approval later in the year. The company expects net product sales of $201 million for 2022, with approximately $450 million in cash reserves. Key clinical developments include the Phase 3 DUPLEX Study for focal segmental glomerulosclerosis (FSGS) and the initiation of a Phase 3 program for pegtibatinase, aimed at treating classical homocystinuria (HCU). Full financial results will be disclosed in late February.
SAN DIEGO, Jan. 03, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics (NASDAQ: TVTX) announced that Eric Dube, Ph.D., CEO, will present a corporate overview at the 41st Annual J.P. Morgan Healthcare Conference on January 12, 2023, at 11:15 a.m. PT. A live webcast will be available on the company's website, with an archived replay accessible for 30 days.
Travere Therapeutics focuses on developing therapies for rare diseases, collaborating with the community to understand patient needs and deliver impactful treatments.
Travere Therapeutics (NASDAQ: TVTX) announced the grant of inducement equity awards covering 124,100 shares to 11 new employees. This includes inducement stock options for 65,000 shares and 59,100 restricted stock units (RSUs). The stock options have an exercise price of $18.90 per share and vest over four years. The RSUs also vest over four years with similar terms. These grants were made outside the 2018 Equity Incentive Plan as a condition of employment, compliant with Nasdaq Listing Rule 5635(c)(4).