Business
Travere Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results
Company to submit sNDA around the end of 1Q 2025 seeking traditional approval of FILSPARI® (sparsentan) for FSGS Net product sales of FILSPARI totaled $50
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"Company to submit sNDA around the end of 1Q 2025 seeking traditional approval of FILSPARI® (sparsentan) for FSGS Net product sales of FILSPARI totaled $50 million in 4Q 2024; $132 million for full year 2024 Net product sales totaled $74 million in 4Q 2024; $227 million for full year 2024 SAN DIEGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its fourth quarter and full year 2024 financial results and provided a corporate update. “Our strong execution in 2024 made it a remarkable year for Travere and the patients we serve. The ongoing commercial launch of FILSPARI outperformed benchmarks and the recent full approval has reinforced physicians’ confidence in choosing FILSPARI as a foundational therapy for IgAN,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “We enter 2025 with strong momentum and a clear focus. With FILSPARI’s differentiated profile as the only medicine that has been shown to provide superior preservation of kidney function in a head-to-head trial and can replace historical foundational therapy, we remain committed to reaching more patients at risk of IgAN progression. Following our recent FDA engagement for FILSPARI in FSGS, we are on track to complete our sNDA submission around the end of the first quarter and are preparing to be ready for a successful launch, if approved. Additionally, we continue to optimize our manufacturing for pegtibatinase and will be preparing to restart enrollment in the pivotal program next year. These strategic priorities will position us to drive a lasting positive impact for our patients and stakeholders.” Financial Results for Continuing Operations for the Quarter and Year Ended December 31, 2024 The following financial results discussion compares Travere’s continuing operations. All periods unless otherwise specified have been adjusted to exclude discontinued operations related to the divestiture of the bile acid product portfolio completed on August 31, 2023. Net product sales for the fourth quarter of 2024 were $73.5 million, compared to $39.9 million for the same period in 2023. For the full year 2024, net product sales were $226.7 million, compared to $127.5 million for the same period in 2023. The increase is attributable to growth in sales of FILSPARI, including a full twelve months of sales...