Business
Travere Therapeutics Provides Corporate Update and 2024 Outlook
Received 459 new patient start forms for FILSPARI® (sparsentan) in the fourth quarter of 2023; preliminary net product sales of FILSPARI totaled $15 million
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"Received 459 new patient start forms for FILSPARI® (sparsentan) in the fourth quarter of 2023; preliminary net product sales of FILSPARI totaled $15 million for the fourth quarter Company on track to submit sNDA to FDA in Q1 2024 for conversion of the existing U.S. accelerated approval of FILSPARI in IgAN to full approval CHMP opinion on potential approval of sparsentan for the treatment of IgAN in Europe expected in Q1 2024 Pivotal Phase 3 study of pegtibatinase in classical homocystinuria (HCU) underway SAN DIEGO, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today announced that, based on preliminary and unaudited financial data, the Company expects net product sales from continuing operations for the fourth quarter of 2023 to be approximately $40 million. For the fiscal year 2023, the Company expects net product sales from continuing operations to be approximately $128 million. The Company ended 2023 with approximately $567 million in cash, cash equivalents, and marketable securities which is expected to support operations into 2028. The Company also provided an update on key corporate, clinical, and regulatory development initiatives, including anticipated milestones for 2024. \"Our strong fourth quarter results reflect the growing demand for FILSPARI in IgAN driven by our field teams’ education and outreach efforts to healthcare providers,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “In 2024, we are well-positioned to drive sustained growth of FILSPARI as the only non-immunosuppressive therapy for IgAN through our continued strong commercial execution and the potential conversion from accelerated to full approval. Additionally, we are pleased to have recently initiated the pivotal HARMONY Study for pegtibatinase. We are focused on building momentum for enrollment of this important trial which is designed to support the potential approval of pegtibatinase as the first and only disease-modifying therapy for classical HCU. Looking forward, we believe our efforts will ultimately position FILSPARI and pegtibatinase as new treatment standards in IgAN and classical HCU, clearly helping to address the needs of patients living with these rare diseases.” Program Updates and Anticipated 2024 Milestones FILSPARI (sparsentan) is an endothelin and angiotensin II re...