Business
Travere Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results
Recently reported that ongoing DUPLEX Study of sparsentan in FSGS achieved interim proteinuria endpoint Preparations underway for meetings with regulatory
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"Recently reported that ongoing DUPLEX Study of sparsentan in FSGS achieved interim proteinuria endpoint Preparations underway for meetings with regulatory agencies in first half of 2021 to discuss planned accelerated approval submissions for FSGS Pivotal PROTECT Study of sparsentan in IgA nephropathy on track to report topline proteinuria results in the third quarter of 2021 Net product sales increased 13 percent to $198 million for the full year 2020 February common stock offering generated net proceeds of $189 million SAN DIEGO, March 01, 2021 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its fourth quarter and full year 2020 financial results and provided a corporate update. The Company recently reported that the ongoing pivotal Phase 3 DUPLEX Study of sparsentan in focal segmental glomerulosclerosis (FSGS) achieved its pre-specified interim FSGS partial remission of proteinuria endpoint (FPRE) after 36 weeks of treatmentThe Phase 3 PROTECT Study of sparsentan in IgA nephropathy (IgAN) remains on-track to report topline data from the 36-week proteinuria analysis in the third quarter of 2021Completed acquisition of TVT-058 (previously OT-58), an investigational human enzyme replacement therapy with disease modifying potential in Phase 1/2 development for the treatment of classical homocystinuria (HCU)Net product sales for the fourth quarter of 2020 were $51.0 million, compared to $46.7 million for the same period in 2019Net product sales for the full year 2020 were $198.3 million, compared to $175.3 million for the full year 2019Cash, cash equivalents and marketable securities, as of December 31, 2020, totaled $361.6 million; an additional approximately $189 million in net proceeds received in February 2021 from common stock offering “In 2020, our organization executed on all of our key objectives despite the challenges of the ongoing pandemic. This resulted in achieving enrollment milestones in our pivotal studies of sparsentan in FSGS and IgAN at or ahead of schedule, diversifying our pipeline with the addition of TVT-058 and serving more patients than ever before with our approved products,” said Eric Dube, Ph.D., chief executive officer of Travere Therapeutics. “Led by the interim readouts from our Phase 3 studies of sparsentan, we expect 2021 to be a pivotal year for Travere. We were very pl...