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. (NASDAQ: TVTX) is a biopharmaceutical company dedicated to identifying, developing, and delivering life-changing therapies for people living with rare kidney, liver, and metabolic diseases. The company's key focus is the development of its investigational product candidate, sparsentan. This novel therapy is in late-stage development for treating focal segmental glomerulosclerosis (FSGS) and IgA nephropathy (IgAN), both rare kidney disorders that can lead to end-stage kidney disease.
Travere Therapeutics has made significant strides in its mission, marked by several recent achievements. The company reported positive topline data from the pivotal phase-III PROTECT study of sparsentan in IgAN, showing a substantial reduction in proteinuria and potential long-term benefits in preserving kidney function. This led to the conditional marketing authorization of sparsentan under the brand name FILSPARI® in Europe and anticipated full approval in the U.S.
Additionally, Travere Therapeutics is advancing other innovative therapies. The company is exploring the potential of pegtibatinase as the first disease-modifying treatment for classical homocystinuria (HCU), with topline data expected in 2026.
Travere's strategic partnerships, such as with CSL Vifor, amplify its reach and impact. CSL Vifor has exclusive commercialization rights for sparsentan in Europe, Australia, and New Zealand. Together, these companies are dedicated to bringing promising treatments to patients worldwide.
The company's financial condition remains robust, supported by a strong pipeline and successful trials. Travere's commitment to the rare disease community is evidenced by its relentless pursuit of better treatment options and its collaborative efforts with patients, families, and caregivers.
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.
On February 28, 2022, Travere Therapeutics (NASDAQ: TVTX) joined global organizations like NORD and EURORDIS in acknowledging Rare Disease Day. This day highlights the struggles of approximately 400 million people worldwide affected by rare diseases, which often lack approved treatments. CEO Eric Dube emphasized the importance of listening to the rare community for innovation and support. Travere also launched the Rare Life campaign to share the experiences of those with rare kidney, metabolic, and liver disorders. A workforce panel discussed IgA nephropathy, a serious condition affecting many young adults.
Travere Therapeutics (NASDAQ: TVTX) reported a 6% increase in net product sales to $211 million for 2021. The company is set to submit NDAs for accelerated approvals of sparsentan in IgA nephropathy and FSGS in 2022. Positive interim results from the Phase 3 PROTECT Study showed significant proteinuria reduction. R&D expenses rose to $210.3 million, reflecting ongoing studies. The net loss for 2021 was $180.1 million, with cash reserves of $552.9 million as of December 31, 2021. Management expresses optimism for continued growth and regulatory submissions.
Travere Therapeutics (NASDAQ: TVTX) announced on February 10, 2022, that its Compensation Committee granted inducement equity grants totaling 70,600 shares to seven new employees. This includes stock options for 25,000 shares and restricted stock units (RSUs) for 45,600 shares, pursuant to its 2018 Equity Incentive Plan. The stock options have an exercise price of $27.42 and vest over four years, with the RSUs also vesting over the same period. These grants are intended to incentivize new hires and are compliant with Nasdaq rules.
Travere Therapeutics, Inc. (NASDAQ: TVTX) announced it will disclose its fourth quarter and full year 2021 financial results on February 24, 2022, after U.S. markets close. A conference call to discuss these results and provide a business update will take place at 4:30 p.m. ET the same day. Interested parties can access a live webcast through Travere’s website. A replay of the call will be available from 7:30 p.m. ET on February 24 until March 3, 2022. For more information, visit Travere.com.
SAN DIEGO, Feb. 09, 2022 – Travere Therapeutics (NASDAQ: TVTX) announced that CEO Eric Dube will present at the virtual 11th Annual SVB Leerink Global Healthcare Conference on February 17, 2022, at 2:20 p.m. ET. A live webcast will be available on their investor relations website, and an archived replay will be accessible for 30 days. Travere Therapeutics is dedicated to supporting patients with rare diseases by developing life-changing therapies and collaborating with the rare disease community.
Travere Therapeutics (NASDAQ: TVTX) announced on January 10, 2022, that its Compensation Committee granted inducement equity to five new employees. This includes stock options for 33,000 shares and RSUs for 9,000 shares, all under the terms of the 2018 Equity Incentive Plan but granted as inducements to employment. The options have an exercise price of $28.04, vesting over four years, while the RSUs also vest over the same period. These grants comply with Nasdaq Listing Rule 5635(c)(4), aimed at attracting and retaining talent in the biopharmaceutical sector.
Travere Therapeutics (NASDAQ: TVTX) announced its expectations for Q4 2021 net product sales of approximately $55 million and total fiscal year 2021 revenues of $227 million. The company is advancing its pipeline, including the investigational drug sparsentan for rare kidney diseases IgA nephropathy and FSGS, with plans for New Drug Applications (NDA) submissions in 2022. Additionally, pegtibatinase is indicated as a potential first treatment for classical homocystinuria. Full financial results are expected to be released in late February.
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