Travere Therapeutics Inc Stock Price, News & Analysis

Ligand Pharmaceuticals (Nasdaq: LGND) announced that its partner Travere Therapeutics received full FDA approval for FILSPARI® (sparsentan) to slow kidney function decline in adults with primary IgA nephropathy (IgAN) at risk of progression. This approval is based on positive long-term results from the PROTECT Study, showing FILSPARI significantly slowed kidney function decline over two years compared to irbesartan.

Key points:

• FILSPARI is the only non-immunosuppressive treatment for IgAN
• Ligand is entitled to a 9% royalty on worldwide net sales of FILSPARI
• FILSPARI demonstrated superior long-term kidney function preservation compared to irbesartan
• The FDA-approved label includes two-year efficacy data

Ligand's CEO, Todd Davis, expressed optimism about FILSPARI's potential as a significant revenue driver for the company in the coming years.

Travere Therapeutics announced FDA full approval of FILSPARI® (sparsentan) to slow kidney function decline in adults with primary IgA nephropathy (IgAN) at risk of progression. FILSPARI is the only non-immunosuppressive treatment that significantly slows kidney function decline in IgAN. The approval is based on positive long-term results from the PROTECT Study, showing superior kidney function preservation compared to irbesartan over two years.

Key points:

• FILSPARI is an oral, once-daily medication that targets glomerular injury in the kidney
• It demonstrated a statistically significant treatment effect of 1.2 mL/min/1.73 m2/year in eGFR slope
• The drug showed durable benefits on proteinuria and was well-tolerated
• FILSPARI has the potential to become foundational care in IgAN

Travere Therapeutics (Nasdaq: TVTX) will present two posters on classical homocystinuria (HCU) at the Society for the Study of Inborn Errors of Metabolism (SSIEM) annual symposium in Porto, Portugal, September 3-6, 2024. The presentations will focus on the trial designs of:

• The pivotal Phase 3 HARMONY Study
• ENSEMBLE long-term extension study
• Cohort 7 in the Phase 1/2 COMPOSE Study

All studies involve pegtibatinase, a novel investigational enzyme replacement therapy for HCU. Travere believes pegtibatinase could become the first disease-modifying therapy for classical HCU by effectively replacing the deficient CBS enzyme activity. The posters will be presented on September 4, 2024, from 6:15 – 8:15 p.m. GMT+1 at the Rosa Mota Pavilion.

Travere Therapeutics (NASDAQ: TVTX) has announced its participation in two upcoming investor conferences in August 2024. The company will present at the 2024 Wedbush PacGrow Healthcare Conference on Tuesday, August 13, at 2:30 p.m. ET, and the Canaccord Genuity 44th Annual Growth Conference on Wednesday, August 14, at 12:30 p.m. ET.

A live webcast of the Canaccord Genuity conference presentation will be available on Travere's website investor page, with a replay accessible for up to 30 days after the event. This announcement highlights Travere's commitment to engaging with investors and sharing company updates through these important industry events.

Travere Therapeutics (NASDAQ: TVTX) reported strong Q2 2024 financial results, highlighting the success of FILSPARI® (sparsentan) in treating IgAN. Key points include:

- 521 new patient start forms (PSFs) for FILSPARI, totaling 2,484 since launch
- FILSPARI net product sales of $27.1 million, up 37% from previous quarter
- Total revenue of $54.1 million, including $52.2 million in net product sales
- Cash position of $325.4 million as of June 30, 2024

The company is preparing for the September 5, 2024 PDUFA date for full approval of FILSPARI in IgAN. Travere is also advancing global expansion efforts and progressing its pegtibatinase Phase 3 program for classical homocystinuria.

Travere Therapeutics (NASDAQ: TVTX) has announced that it will release its second quarter 2024 financial results on Thursday, August 1, 2024, after the U.S. financial markets close. The company will host a conference call and webcast at 4:30 p.m. ET to discuss the financial results and provide a general business update. Investors can access the webcast and dial-in information on Travere's website at ir.travere.com/events-presentations. An archived version of the call will be available for 30 days on the company's website following the live webcast.

Travere Therapeutics (NASDAQ: TVTX) will present at the H.C. Wainwright 3rd Annual Kidney Virtual Conference on July 15, 2024, at 11:30 a.m. ET. The presentation will be accessible via live webcast on the company's Investor page, and a replay will be available for 30 days post-event. The company's management will discuss key developments and insights related to their kidney disease therapeutics pipeline.

Travere Therapeutics (NASDAQ: TVTX) announced on June 11, 2024, that its Compensation Committee granted inducement equity grants to three new employees on June 10, 2024. These grants, consisting of 10,500 inducement restricted stock units (RSUs), are part of the company's efforts to attract new talent. The RSUs are governed by the terms of Travere's 2018 Equity Incentive Plan but were granted outside of this plan as inducements material to the new hires. The RSUs will vest over four years, with 25% vesting each year, contingent upon the employees' continued service with the company.

Travere Therapeutics announced the issuance of inducement equity grants to five new employees under Nasdaq Listing Rule 5635(c)(4) on May 10, 2024.

The grants include stock options for 25,000 shares and restricted stock units (RSUs) for 26,500 shares of common stock. The stock options have an exercise price of $6.30 per share, the closing price on the date of grant, and vest over a four-year period. The RSUs also vest over four years, with 25% of shares vesting annually.

These inducement grants are intended to attract new talent and are issued outside of Travere's 2018 Equity Incentive Plan but adhere to its terms.