Loading...
•
Mar 31, 2020
Travere Q1 2020 Earnings Report
Retrophin reported strong results and generated positive momentum across all aspects of its business.
Key Takeaways
Retrophin's first quarter 2020 financial results showed net product sales increased to $47.8 million compared to $39.6 million for the same period in 2019. The company achieved the critical milestone of enrolling the first 190 patients in its pivotal DUPLEX Study of sparsentan in FSGS. Net income for the first quarter of 2020 was $0.8 million, compared to a net loss of $41.0 million for the same period in 2019.
Phase 3 DUPLEX Study of sparsentan in FSGS achieved enrollment of the first 190 patients required to support the 36-week proteinuria analysis.
The pivotal PROTECT Study of sparsentan in IgA nephropathy (IgAN) continues enrollment toward 280 patients required to enable the 36-week proteinuria analysis for accelerated approval submissions
Suzanne L. Bruhn, Ph.D., joined the Board of Directors.
Net product sales for the first quarter of 2020 were $47.8 million, compared to $39.6 million for the same period in 2019
Forward Guidance
Retrophin continues to believe that top-line efficacy data from the 36-week proteinuria endpoint analysis in the first quarter of 2021 are achievable for DUPLEX study. For PROTECT Study, the company continues to believe that top-line efficacy data from the 36-week proteinuria endpoint analysis in the first half of 2022 are achievable.
Positive Outlook
- Company has taken steps to protect the health and safety of its team members, healthcare providers and other stakeholders.
- Implemented a work from home policy and is effectively supporting the needs of patients and physicians through virtual interactions.
- Created an emergency assistance fund to provide COVID-19 grant support for patient communities.
- Maintained continuity in its supply chain and has not had disruption in the supply of its approved or investigational therapies.
- Patient support services and direct to patient pharmacy provider remain staffed and fully functional and are continuing to provide uninterrupted access and support to patients prescribed the Company’s approved products.
Challenges Ahead
- Timelines of ongoing clinical trials could be impacted as it experiences a slowing in patient enrollment and site initiations due to the COVID-19 impact on the health system.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...