Loading...
•
Jun 30, 2020
Travere Q2 2020 Earnings Report
Retrophin reported an increase in net product sales and provided a corporate update.
Key Takeaways
Retrophin reported an eight percent increase in net product sales, reaching $48 million in the second quarter of 2020. The company's cash and equivalents totaled $457 million following a $109 million common stock offering. Enrollment in the Phase 3 PROTECT Study is ahead of schedule, and topline proteinuria data from both pivotal studies in FSGS and IgAN are now anticipated in 2021.
Net product sales increased eight percent to $48 million in the second quarter.
Cash & equivalents totaled $457 million following completion of a $109 million common stock offering.
Enrollment is ahead of schedule in the Phase 3 PROTECT Study of sparsentan in IgAN.
Topline proteinuria data from both pivotal studies in FSGS and IgAN are now anticipated in 2021.
Forward Guidance
Retrophin anticipates reporting topline efficacy data from the 36-week proteinuria endpoint analysis in the first quarter of 2021 for the DUPLEX Study and in the second half of 2021 for the PROTECT Study. The company will focus on achieving key enrollment milestones while maintaining high quality conduct in these studies. Retrophin is also preparing for anticipated regulatory submissions and building upon its existing commercial capabilities for the potential launch of sparsentan, if approved.
Positive Outlook
- Topline efficacy data from the 36-week proteinuria endpoint analysis in the first quarter of 2021 for the DUPLEX Study.
- Topline efficacy data from the 36-week proteinuria endpoint analysis in the second half of 2021 for the PROTECT Study.
- Focus on achieving key enrollment milestones.
- Maintaining high quality conduct in these studies.
- Preparing for anticipated regulatory submissions.
Challenges Ahead
- Significant uncertainties remain as a result of the ongoing COVID-19 pandemic.
- Potential impact of the evolving COVID-19 pandemic on the timing of topline efficacy data.
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...