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Sep 30, 2024
Travere Q3 2024 Earnings Report
Travere reported exceptional performance driven by FILSPARI's full FDA approval and strong sales growth, while also advancing its pipeline and strategic initiatives.
Key Takeaways
Travere Therapeutics reported strong Q3 2024 financial results, highlighted by the full FDA approval of FILSPARI and a meaningful increase in demand. The company's commercial team delivered strong sales growth of FILSPARI in the U.S. Travere is actively preparing for potential sNDA submissions and expanding FILSPARI's availability in Europe through its partner CSL Vifor.
FILSPARI received full FDA approval as the only non-immunosuppressive treatment that significantly slows kidney function decline in IgAN.
Net product sales of FILSPARI totaled $35.6 million for the third quarter of 2024.
Total revenue for the third quarter of 2024 was $62.9 million, including net product sales of $61.0 million.
A Type C meeting is scheduled with the FDA to discuss a potential sNDA submission for FILSPARI in FSGS.
Revenue by Segment
Forward Guidance
Travere is focused on accelerating the growth of FILSPARI, expanding its potential in FSGS, and continuing the development of its pipeline. The company expects to provide an update on the FSGS program by its fourth quarter 2024 earnings call.
Positive Outlook
- Potential for FILSPARI to replace current standard of care in IgAN.
- Potential to further accelerate growth with FILSPARI.
- Ongoing commercial launch of FILSPARI.
- sNDA requesting a modification to the frequency of liver monitoring for FILSPARI.
- Plans to meet with the FDA on a potential sNDA submission for FILSPARI in FSGS.
Challenges Ahead
- Voluntary pause of enrollment in the HARMONY Study.
- Challenges of manufacturing scale-up.
- Uncertainties associated with the regulatory review and approval process.
- Risks related to potential disruptions to clinical trials, commercialization activity, supply chain, and manufacturing operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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