Business
Travere Therapeutics Reports Second Quarter 2024 Financial Results
Received 521 new patient start forms (PSFs) for FILSPARI® (sparsentan) in the quarter representing the sixth consecutive quarter of PSF growth; Total of 2,484
About this update from Travere Therapeutics, Inc.
[{"type":"text","content":"Received 521 new patient start forms (PSFs) for FILSPARI® (sparsentan) in the quarter representing the sixth consecutive quarter of PSF growth; Total of 2,484 PSFs received since launch Net product sales of FILSPARI totaled $27.1 million for the second quarter of 2024 representing 37% growth over the previous quarter Company well-positioned for September 5, 2024 PDUFA target action date for conversion of the U.S. accelerated approval of FILSPARI to full approval in IgAN Total revenue for the second quarter of 2024 was $54.1 million, including net product sales of $52.2 million Cash, cash equivalents, and marketable securities, as of June 30, 2024, totaled $325.4 million SAN DIEGO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its second quarter 2024 financial results and provided a corporate update. “The second quarter represents our most successful quarter to date for the FILSPARI launch in the U.S. We again achieved new highs in patient start forms and revenue driven by more nephrologists upgrading the standard of care to FILSPARI for their patients. This strong performance is particularly timely as we finalize our preparations to be ready for full approval in IgAN with the upcoming PDUFA target action date next month,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics. “Additionally, we are continuing to make progress in bringing FILSPARI to patients globally. Our partner CSL Vifor remains on track to initiate the launch of FILSPARI in Europe shortly, and Renalys Pharma recently dosed the first patient in their registrational trial to support regulatory submissions in Japan. We also continue our work to identify a potential regulatory pathway for sparsentan in FSGS, and we are advancing the Phase 3 program for pegtibatinase with the goal of delivering the first disease modifying therapy for classical homocystinuria.” Financial Results for Continuing Operations for the Quarter Ended June 30, 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 second quarter of 2024 were $52.2 million, compared to $29.5 m...