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Dec 31, 2023
Travere Q4 2023 Earnings Report
Travere reported Q4 2023 financial results, highlighted by FILSPARI's commercial progress and the initiation of the Phase 3 pegtibatinase program.
Key Takeaways
Travere Therapeutics reported Q4 2023 net product sales of $39.9 million, driven by FILSPARI. The company is advancing its pipeline, including a Phase 3 study for pegtibatinase. The company had $566.9 million in cash, cash equivalents, and marketable securities as of December 31, 2023.
Received 459 new patient start forms (PSFs) for FILSPARI in Q4 2023, with a total of 1,452 PSFs received in 2023.
Net product sales for Q4 2023 were $39.9 million, and $127.5 million for FY 2023.
Company is nearing submission of sNDA to convert U.S. accelerated approval of FILSPARI in IgAN to full approval.
Pivotal Phase 3 HARMONY Study of pegtibatinase in classical homocystinuria (HCU) is enrolling, with topline data anticipated in 2026.
Revenue by Segment
Forward Guidance
Travere Therapeutics looks forward to further strengthening the U.S. commercial launch of FILSPARI in IgAN, potential full approval of FILSPARI, anticipated inclusion into global treatment guidelines for IgAN, and advancing the Phase 3 HARMONY Study of pegtibatinase.
Positive Outlook
- Furthering the strength of the U.S. commercial launch of FILSPARI in IgAN.
- Potential full approval of FILSPARI.
- Anticipated inclusion into the global treatment guidelines for IgAN.
- Additional data planned in 2024.
- Advancing the innovative Phase 3 HARMONY Study of pegtibatinase.
Challenges Ahead
- Risks associated with regulatory review and approval process.
- Risks associated with market acceptance of commercial products.
- Uncertainties related to patent protection and exclusivity periods.
- Risks associated with regulatory interactions.
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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