Business
Travere Therapeutics Reports Second Quarter 2023 Financial Results
• Received 417 new patient start forms for FILSPARI™(sparsentan) in the second quarter 2023, reflecting continued strong demand from nephrologists and
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"• Received 417 new patient start forms for FILSPARI™(sparsentan) in the second quarter 2023, reflecting continued strong demand from nephrologists and patients with IgA nephropathy (IgAN) • Net product sales of FILSPARI totaled $3.5 million for the second quarter of 2023; $6.5 million for first four and a half months since approval • Company reported positive topline results from Cohort 6 in the Phase 1/2 COMPOSE Study of pegtibatinase in classical homocystinuria (HCU); Phase 3 study expected to initiate by year-end • Recently announced agreement to sell bile acid product portfolio for up to $445 million, advances strategy to deliver new treatment standards from pipeline and strengthens financial foundation; transaction expected to close in third quarter of 2023 • Total revenue for the second quarter of 2023 was $59.7 million, consisting of $57.0 million in net product sales and $2.7 million in licensing and collaboration revenue • Cash, cash equivalents, and marketable securities, as of June 30, 2023, totaled $491.3 million SAN DIEGO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its second quarter 2023 financial results and provided a corporate update. \"We are very pleased with the initial months of the FILSPARI launch in IgAN and are encouraged by the positive feedback we are receiving from both patients and prescribers,\" said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. \"We have fully deployed our sales force, activated our patient and prescriber support systems, and we continue to expand awareness of FILSPARI among healthcare professionals through engagement at major medical meetings and at the local level. With respect to measuring demand and access, our two key indicators of early launch success, we saw strong growth in patient start forms and we continued to advance broader access to FILSPARI for eligible patients through sound progress with our payer engagement efforts. Beyond the launch, we continued to execute across our pipeline. Notably, we are well positioned for upcoming engagement with the FDA to evaluate a potential regulatory path forward for sparsentan in FSGS and following the recent exciting results from the pegtibatinase program, we are working to initiate a pivotal study later this year. Furthermore, we were pleased to rece...