Travere Therapeutics, Inc. · NASDAQ:TVTX
Travere Therapeutics — Q1 2026 Earnings Presentation
48 slides from Travere Therapeutics's earnings presentation, May 4, 2026
Slide 1: Travere Therapeutics Corporate Overview
Travere Therapeutics Corporate Overview May 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements, including but not limited to statements about: continued progress with the FILSPARI in IgAN; statements regarding our products and products in development as potential foundational treatments and/or treatment standards
Slide 3: We are in rare for life
We are in rare for life. At Travere Therapeutics, we are a biopharmaceutical company that comes together every day to help patients, families, and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent — that is why our
Slide 4: Travere Has a Vital Role in Rare Kidney and Metabolic Diseases
Travere Has Building a durable rare disease franchise, led by a Vital Role in FILSPARI’s broad reach and greater than $3B potential peak sales opportunity, with pegtibatinase extending long- Rare Kidney and term innovation and growth Metabolic Diseases Through further clinical development and commer
Slide 5: Pipeline of Potential First-in-Class Programs Targeting Rare Kidney and Metabolic Diseases
Pipeline of Potential First-in-Class Programs Targeting Rare Kidney and Metabolic Diseases PROGRAM THERAPEUTIC AREA PRECLINICAL PHASE 1 PHASE 2 PHASE 3 APPROVED COMMERCIAL FILSPARI® IgAN (sparsentan)1 FILSPARI® FSGS (sparsentan)2 Pegtibatinase HCU (TVT-058)3 Thiola EC® and Cystinuria Thiola® (tiopro
Slide 6: Strategic Priorities to Drive Significant Growth
Strategic Priorities to Drive Significant Growth Now and in the Future Reinforce FILSPARI’s foundational position in a growing IgAN market Successfully launch FILSPARI in FSGS Successful enrollment in Phase 3 HARMONY Study to position pegtibatinase as the first potential disease-modifying therapy fo
Slide 7: Reinforce FILSPARI's foundational position in IgAN
Reinforce FILSPARI’s foundational position in a growing IgAN market Successfully launch FILSPARI in FSGS Successful enrollment in Phase 3 HARMONY Study to position pegtibatinase as the first potential disease-modifying therapy for HCU Continued business development to further diversify pipeline Cait
Slide 8: A Substantial Opportunity to Improve the Lives of Patients Living with IgAN
A Substantial Opportunity to Improve the Lives of Patients Living with IgAN 2025 KDIGO guidelines4 to drive earlier treatment peak incidence 25-39 age of IgAN1 and combination therapy market median time to kidney >70,000 addressable failure in high-risk patients5 ~11 yrs adult patients2 of transplan
Slide 9: 2025 KDIGO Guidelines: The IgAN Treatment Paradigm is Evolving
2025 KDIGO Guidelines: The IgAN Treatment Paradigm is Evolving Earlier Treatment, Lower Proteinuria Targets and Simultaneous Therapy 1 2 3 Earlier At risk of progressive loss of kidney Treatment diagnosis function requiring treatment goal • Kidney biopsy in all adults • At risk if proteinuria ≥0.5g/
Slide 10: The Shifting IgAN Treatment Paradigm: Two Areas to Target; Two Treatment Categories
The Shifting IgAN Treatment Paradigm: Two Areas to Target; Two Treatment Categories OVERACTIVATION IN THE KIDNEY OVERACTIVATION OF THE IMMUNE SYSTEM Foundational Treatment Immunosuppressant Treatment TARGET THE KIDNEY INJURY TARGET THE IMMUNE SYSTEM RASi Steroids Budesonide ± SGLT2i Complement Other
Slide 11: The Only Non-Immunosuppressive Treatment Proven to Significantly Slow Kidney Function Decline in IgA Nephropathy
The Only Non-Immunosuppressive Treatment Proven to Significantly Slow Kidney Function Decline in IgA Nephropathy Overview of Prescribing Information FILSPARI is indicated to slow kidney function Indication decline in adults with primary IgAN who are at Statement risk for disease progression Dosing a
Slide 12: FILSPARI Positioned as a First-in-Class Foundational Treatment in IgAN
FILSPARI Positioned as a First-in-Class Foundational Treatment in IgAN with Best-in-Class Features Two-year safety data comparable to maximum-labeled dose irbesartan One pill, once daily administration Superior two-year proteinuria reduction vs active comparator irbesartan stronger foundation for ki
Slide 13: U.S. FILSPARI Performance Reaches New All-Time Highs in 1Q26
U.S. FILSPARI Performance Reaches New All-Time Highs in 1Q26 $105M 993 96% U.S. net FILSPARI sales in 1Q26 New PSFs in 1Q26 U.S. Patients with Pathway to Access Highest quarterly 88% growth vs 1Q25 demand since launch Increasing breadth and depth of prescribers FILSPARI is well established in payer
Slide 14: Benchmark Setting Rare Disease Launch Executed by Premier Commercial Infrastructure
Benchmark Setting Rare Disease Launch Executed by Premier Commercial Infrastructure Leading commercial FILSPARI’s launch in IgAN has significantly outperformed infrastructure with track other rare renal launches over the past five years1 record of top launches Quarterly Net Product Sales FILSPARI 10
Slide 15: Strong Patient Start Form Momentum in IgAN with Significant Growth Potential
Strong Patient Start Form Momentum in IgAN with Significant Growth Potential FILSPARI streamlined REMS 993 1000 requirements and updated KDIGO guidelines1 900 908 ~10% penetration of FILSPARI full approval the addressable IgAN 800 745 market; potential for 731 700 693 703 substantial growth 600 511
Slide 16: Key Growth Drivers Supporting Continued Execution of Commercial Launch
Key Growth Drivers Supporting Continued Execution of Commercial Launch Broader label allows for greater number of patients to benefit from FILSPARI KDIGO guidelines2 and streamlined REMS monitoring strengthen >70k FILSPARI’s position as a foundational, nephroprotective therapy for IgAN Opportunity t
Slide 17: Further Evidence Generation to Drive Broad Uptake
Further Evidence Generation to Drive Broad Uptake: Supporting First-Line FILSPARI Use in Newly Diagnosed Patients SPARTAN Study: Preliminary 0 clinical findings at 24-weeks in −20 baseline, geometric mean treatment-naïve patients on Change in UPCR from FILSPARI −40 (SE), % FILSPARI led to rapid and
Slide 18: Paving a Path to Global Access for FILSPARI in IgAN with Established Commercial Partners
Paving a Path to Global Access for FILSPARI in IgAN with Established Commercial Partners New Drug Application for >70k addressable patients with sparsentan in Japan is IgAN1 expected in 2026 United States License to Chugai covers Japan, South Korea, and Taiwan Standard approval in Europe and the UK;
Slide 19: Successfully launch FILSPARI in FSGS
Reinforce FILSPARI’s foundational position in a growing IgAN market Successfully launch FILSPARI in FSGS Successful enrollment in Phase 3 HARMONY Study to position pegtibatinase as the first potential disease-modifying therapy for HCU Continued business development to further diversify pipeline © 20
Slide 20: FILSPARI is the First and Only Medicine Approved for FSGS
FILSPARI is the First and Only Medicine Approved for FSGS; Expanding its Reach in Rare Kidney Conditions 1 2 3 4 Additional Indication Strong Clinical Profile in Execution-Ready Further Supports Expands Addressable FSGS Population without Commercial Platform Sustainable Growth Patient Population Nep
Slide 21: FSGS Represents Significant Patient and Community Burden
FSGS Represents Significant Patient and Community Burden Symptoms Side effects from of FSGS medications (IST) 7-year Fatigue 5-10 years kidney survival rate median time to for FSGS is the lowest | kidney failure for among primary High blood Significant toxicity 30-60% of glomerular diseases1 pressur
Slide 22: Proteinuria is the Primary Predictor of Disease Severity and Kidney Failure in FSGS
Proteinuria is the Primary Predictor of Disease Severity and Kidney Failure in FSGS Role of Elevated and Persistent Proteinuria in FSGS PROTEINURIA Podocyte Podocyte Glomerular Glomerular Tubulointerstitial injury1,2 Loss3,4,5 hypertrophy sclerosis1,2 fibrosis1,2 hyperfiltration6,7 KIDNEY FAILURE Ab
Slide 23: All Types of FSGS Share a Similar Glomerular Lesion Initiated by Podocyte Injury
Regardless of the Underlying Etiology, All Types of FSGS Share a Similar Glomerular Lesion Initiated by Podocyte Injury PRIMARY GENETIC UNDETERMINED CAUSE SECONDARY FSGS lesions with diffuse foot Identified genetic variants of FSGS lesions without diffuse Secondary to other disease process effacemen
Slide 24: Broad Patient Population Defined by Absence of Nephrotic Syndrome
Broad Patient Population Defined by Absence of Nephrotic Syndrome FSGS without Nephrotic Syndrome FSGS with Nephrotic Syndrome* DIAGNOSTIC CHARACTERISTICS DIAGNOSTIC CHARACTERISTICS (concurrently meeting all criteria) • Absence of one or more of the nephrotic • Proteinuria >3.5 g/24h2 syndrome crite
Slide 25: The DUPLEX Study of Sparsentan is the Largest Active-Controlled Phase 3 Trial in FSGS
The DUPLEX Study of Sparsentan is the Largest Active- Controlled Interventional Phase 3 Trial in FSGS to Date Evaluate the efficacy • Phase 3, double-blind, active-controlled global trial in patients with biopsy-proven Objective and safety Trial Design FSGS or genetic FSGS, N=371 patients (ages 8 to
Slide 26: In DUPLEX, Greater Proteinuria Reduction in FSGS without Nephrotic Syndrome
In DUPLEX, Treatment with FILSPARI Demonstrated Even Greater Reduction in Proteinuria in FSGS without Nephrotic Syndrome DUPLEX Population without Nephrotic Syndrome* Overall DUPLEX Population % reduction in UPCR from baseline by visit % reduction in UPCR from baseline by visit 0% 0% LS Mean Change
Slide 27: In DUPLEX, Greater Relative Proteinuria Reduction Across Thresholds
In DUPLEX, FILSPARI Demonstrated Even Greater Relative Proteinuria Reduction Across Thresholds in FSGS without Nephrotic Syndrome DUPLEX Population without Nephrotic Syndrome* Overall DUPLEX Population Patients achieving UPCR thresholds1, % Patients achieving UPCR thresholds1,2, % FILSPARI (N=129) I
Slide 28: In DUPLEX, Clinically Meaningful Effect on eGFR in FSGS without Nephrotic Syndrome
In DUPLEX, FILSPARI Demonstrated a Clinically Meaningful Effect on eGFR in FSGS without Nephrotic Syndrome DUPLEX Population without Nephrotic Syndrome* FILSPARI Irbesartan Difference p-value5 (N=129)1 (N=125)1 Adjusted Mean Change in eGFR (mL/min/1.73 m2) at Week 108 -11.3 -12.4 1.1 NS from baselin
Slide 29: In DUPLEX, Stronger Benefit on Exploratory Kidney Outcome Endpoints
In DUPLEX, FILSPARI Demonstrated Even Stronger Benefit on Exploratory Kidney Outcome Endpoints in FSGS without Nephrotic Syndrome FILSPARI showed clinically meaningful benefit in the broad DUPLEX population, with enhanced efficacy in population without nephrotic syndrome* 14 FILSPARI Irbesartan RR:
Slide 30: FILSPARI: The First and Only FDA-Approved Medicine for FSGS
FILSPARI: The First and Only FDA-Approved Medicine for FSGS Overview of Prescribing Information FILSPARI is indicated to reduce proteinuria in adult and Indication pediatric patients aged 8 years and older with focal Statement segmental glomerulosclerosis (FSGS) without nephrotic syndrome Adults and
Slide 31: Launch Readiness and Adoption Drivers to Support Significant FSGS Opportunity
Launch Readiness and Adoption Drivers to Support Significant FSGS Opportunity FSGS has a significant unmet need with high The first and only FDA-approved medicine indicated for FSGS1 urgency to treat Highly severe and fast progressing disease with ~75% of >30k addressable surveyed nephrologists indi
Slide 32: KDIGO Guidelines Recommend FSGS Management Based on Nephrotic Syndrome Status
KDIGO Guidelines Recommend FSGS Management Based on Nephrotic Syndrome Status Patient with FSGS lesion on kidney biopsy Presence of nephrotic syndrome Absence of nephrotic syndrome Nephrotic-range proteinuria >3.5 g/d Proteinuria >3.5 g/d BUT AND Serum albumin >3.0 g/dl Serum albumin <3.0 g/dl with
Slide 33: Addressable FSGS Population is Expected to Grow Over Time
Addressable FSGS Population Across Disease Subtypes is Expected to Grow Over Time >30,000 addressable patients with clear drivers of future growth Future growth drivers: Population growth >30K patients addressable at launch Earlier referral to Secondary and nephrologist in light of Undetermined Caus
Slide 34: Leveraging Existing Infrastructure to Support Successful Launch in FSGS
Leveraging Existing Infrastructure to Support Successful Launch in FSGS ~7,000 • Target physicians that manage patients with IgAN and FSGS Expanding target >80% • Prescriber overlap between IgAN and FSGS physician universe to drive further synergies between 100+ IgAN and FSGS launches • Established
Slide 35: Strong Anticipation and Clinical Familiarity with FILSPARI to Drive Utilization
Strong Anticipation and Clinical Familiarity with FILSPARI to Drive Utilization Among nephrologists, FILSPARI is the most familiar FSGS pipeline agent today1 >80% of nephrologists indicate novel non-immunosuppressives are highly desirable in FSGS1 ~70% of nephrologists are “extremely familiar” with
Slide 36: Execution-Ready Commercial Organization for FSGS Launch
Execution-Ready Commercial Organization for FSGS Launch Patient & Strong Commercial Access & Comprehensive Product Available Physician Focus Foundation Reimbursement Support Program Day 1 Continuous patient Experienced field Established payer Travere TotalCare Streamlined logistics and physician tea
Slide 37: Successful enrollment in Phase 3 HARMONY Study
Reinforce FILSPARI’s foundational position in a growing IgAN market Successfully launch FILSPARI in FSGS Successful enrollment in Phase 3 HARMONY Study to position pegtibatinase as the first potential disease-modifying therapy for HCU Continued business development to further diversify pipeline Jame
Slide 38: HCU Market Represents Significant Unmet Need with Potential for Growth
HCU Market Represents Significant Unmet Need with Potential for Growth with Better Diagnostics, Awareness and Effective Treatment Options Disease education/awareness, enhanced diagnostics and better treatment options are expected to lead to increased patient identification, earlier diagnosis, and be
Slide 39: Pegtibatinase is an Investigational, Modified, Recombinant CBS Human Enzyme Therapy
Pegtibatinase is an Investigational, Modified, Recombinant CBS Human Enzyme Therapy Pegtibatinase is designed to address the underlying genetic cause of HCU Pegtibatinase has been granted multiple Mechanism of action is regulatory designations Methionine designed to have broad for the treatment of e
Slide 40: Pegtibatinase Phase 1/2 COMPOSE Study Showed Rapid and Sustained tHcy Reduction
Treatment with Pegtibatinase in the Phase 1/2 COMPOSE Study Showed Rapid and Sustained tHcy Reduction Through 12 Weeks of Treatment Summary of relative reduction in geometric mean of total homocysteine from baseline from 67.1% mean relative reduction in total cohorts 1-6 in the Phase 1/2 COMPOSE Stu
Slide 41: Innovative Pegtibatinase Phase Program Designed to Enable a BLA Submission
Innovative Pegtibatinase Phase 3 Program Designed to Enable a BLA Submission Screening 2-week dose Double-blind treatment Safety FU period ≤4 weeks ≤6 weeks titration 24 weeks 4 weeks Primary endpoint • Change from baseline in plasma Randomization (1:1) Pre-treatment DSP Phase 3 (N≈70) Pegtibatinase
Slide 42: On Track to Position Pegtibatinase as the First Potential Disease-Modifying Therapy in HCU
On Track to Position Pegtibatinase as the First Potential Disease-Modifying Therapy in HCU First new patient dosed in restarted Phase 3 HARMONY Study1 Leveraging patient Activating clinical identification efforts to build sites globally enrollment momentum Patients continue to be Topline data expect
Slide 43: A Strong Financial Foundation to Deliver New Treatment Standards in Rare Disease
A Strong Financial Foundation to Deliver New Treatment Standards in Rare Disease ~$125M ~92M in total U.S. net product basic shares sales in 1Q26; outstanding as of represents ~64% March 31, 2026; growth year-over-year diluted ~107mm1 ~$265M ~$316M in cash and cash in convertible notes equivalents2
Slide 44: Appendix
Appendix Additional Evidence Generation for FILSPARI to Support Broad Uptake
Slide 45: Treatment with FILSPARI May Potentially Delay Dialysis or Transplant
Treatment with FILSPARI May Potentially Delay Dialysis or Transplant Potential long-term impact of preserved eGFR slope1,2 60 50 Based on extrapolation of eGFR slope data from PROTECT, eGFR (mL/min/1.73 m2) 40 FILSPARI may potentially +4.5 years vs irbesartan FILSPARI delay dialysis or 30 Irbesartan
Slide 46: SPARTAN Study: Urinary Biomarker Analysis Suggests Disease-Modifying Effects
SPARTAN Study: Urinary Biomarker Analysis Suggests Disease-Modifying Effects of FILSPARI in IgAN Treatment with FILSPARI resulted in rapid and sustained reductions in urinary biomarkers of inflammation and fibrosis that reveal anti-inflammatory and anti-fibrotic effects of FILSPARI1 0 BAFF sC5b9 bio
Slide 47: SPARTACUS Study: FILSPARI Added to SGLT2i Resulted in Further Proteinuria Reduction
SPARTACUS Study: FILSPARI Added to SGLT2i Resulted in Further Proteinuria Reduction and Was Generally Well Tolerated Transitioning patients from RASi to FILSPARI resulted in a TEAEs Patients mean reduction in UACR of ~56% at 24 weeks (N=48) Any TEAE, n (%) 30 (63) 10 SPAR related 10 (21) Geometric l
Slide 48: Inc.
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