Travere Therapeutics Inc Stock Price, News & Analysis

Travere Therapeutics (NASDAQ: TVTX) announced the presentation of non-clinical data on sparsentan, aimed at protecting kidney function in rare glomerular diseases, at the ASN Kidney Week 2021, from November 4-7, 2021. Sparsentan, a Dual Endothelin Angiotensin Receptor Antagonist, is under Phase 3 clinical trials for treating IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS). The company achieved significant interim results, showing improvements in proteinuria levels. ePosters will be available online from November 4, 2021, through January 7, 2022.

Travere Therapeutics (TVTX) announced positive interim results from its Phase 3 PROTECT Study of sparsentan for IgA nephropathy, showing a 49.8% reduction in proteinuria compared to 15.1% for irbesartan (p<0.0001). After pre-NDA interactions with the FDA, an NDA submission for sparsentan's accelerated approval is expected in Q1 2022. Additionally, plans for a combined MAA for IgA nephropathy and FSGS in Europe are in place. Q3 2021 net product sales reached $54.2 million, up from $51.1 million in Q3 2020, while the company reported a net loss of $35.6 million for the quarter.

Travere Therapeutics (NASDAQ: TVTX) will announce its third quarter 2021 financial results on October 28, 2021, after market close. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results and provide a business update. Investors can join the call by dialing +1 (855) 219-9219 (U.S.) or +1 (315) 625-6891 (International) with confirmation code 5068414. A replay will be available from October 28 until November 4, 2021. Travere aims to offer life-changing therapies for rare diseases.

Travere Therapeutics (NASDAQ: TVTX) announced the granting of inducement equity grants totaling 74,900 shares to 11 new employees on October 10, 2021. This includes stock options for 62,100 shares at an exercise price of $26.09 and 12,800 restricted stock units (RSUs). The options have a 10-year term and vest over four years, while the 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) announced a transition for its chief medical officer, Dr. Noah Rosenberg, to an advisory role by the end of 2021 for personal reasons. Dr. Rosenberg will assist with clinical trial oversight and regulatory submissions throughout 2022. The company has commenced the search for his successor while continuing its clinical programs. CEO Eric Dube praised Dr. Rosenberg's contributions to the ongoing pivotal Phase 3 studies of sparsentan, which are aimed at treating rare diseases.

The collaboration between Travere Therapeutics (TVTX) and Vifor Pharma aims to commercialize sparsentan, a potential first-in-class treatment for rare kidney disorders FSGS and IgAN. Under the agreement, Vifor obtains exclusive rights in Europe, Australia, and New Zealand, while Travere receives a USD 55 million upfront payment and could earn up to USD 135 million in milestone payments. Sparsentan is currently undergoing pivotal phase-III trials and has Orphan Drug Designation in both the U.S. and Europe for these conditions.

Travere Therapeutics (NASDAQ: TVTX) has entered a licensing agreement with Vifor Pharma for exclusive commercialization rights to sparsentan in Europe, Australia, and New Zealand. Travere will receive a $55 million upfront payment and could earn up to $135 million in milestone payments, along with tiered royalties of up to 40% on net sales. Sparsentan is being developed as a potential first-in-class treatment for the rare kidney disorders FSGS and IgAN. This collaboration aims to address significant unmet medical needs in these conditions.

Ruth Williams-Brinkley has been appointed to the Board of Directors of Travere Therapeutics (NASDAQ: TVTX), effective immediately. With over 35 years of experience in healthcare, she previously served as President of the Kaiser Foundation Health Plan for the Mid-Atlantic States. Williams-Brinkley aims to enhance the company’s efforts in delivering new treatment options for rare kidney conditions. The appointment is seen as a strategic move to bolster leadership as Travere advances its commercial pipeline.

Travere Therapeutics (NASDAQ: TVTX) announced on September 10, 2021, the grant of inducement equity grants totaling 48,100 shares of common stock to five new employees. This includes stock options for 40,500 shares and restricted stock units (RSUs) for 7,600 shares, all under the 2018 Equity Incentive Plan. The options have an exercise price of $23.55 per share and vest over four years, while the RSUs also vest over the same period. The granting was made to incentivize new hires in compliance with Nasdaq Listing Rule 5635(c)(4).