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Dec 31, 2024
Travere Q4 2024 Earnings Report
Travere Therapeutics reported strong financial results for the fourth quarter and full year 2024, driven by the successful commercial launch of FILSPARI and progress in its clinical pipeline.
Key Takeaways
Travere Therapeutics delivered a strong performance in Q4 2024, with total revenue reaching $74.787 million, significantly up from the previous year. The company's net product sales, particularly from FILSPARI, were a key driver of this growth. Despite an operating loss, the company maintained a healthy cash position and is advancing its key programs, including the sNDA submission for FILSPARI in FSGS and the restart of enrollment for pegtibatinase.
Net product sales for Q4 2024 reached $73.546 million, a substantial increase from $39.916 million in Q4 2023.
FILSPARI net product sales alone contributed $49.644 million in Q4 2024, demonstrating strong commercial launch success.
The company reported a net loss of $60.264 million for Q4 2024, an improvement from a $90.173 million net loss in Q4 2023.
Cash, cash equivalents, and marketable securities stood at $370.7 million as of December 31, 2024, including $134.7 million from a common stock offering.
Revenue by Segment
Forward Guidance
Travere Therapeutics is focused on advancing FILSPARI for FSGS, optimizing pegtibatinase manufacturing, and restarting its pivotal program, while also anticipating milestones from its IgAN programs and collaborations.
Positive Outlook
- On track to submit sNDA for FILSPARI in FSGS around the end of 1Q 2025, aiming for traditional approval.
- Preparing for a successful launch of FILSPARI for FSGS, if approved, which would be the first and only approved medicine for FSGS.
- Continuing to optimize manufacturing for pegtibatinase and on track to restart enrollment in the Phase 3 HARMONY Study in 2026.
- Anticipates final publication of updated KDIGO clinical guidelines for IgAN in 2025, recommending FILSPARI as a foundational kidney-targeted therapy.
- Expects to receive a $17.5 million milestone payment from CSL Vifor upon conversion of CMA to full approval for FILSPARI in Europe.
Challenges Ahead
- No guarantee that the FDA will accept the sNDA for filing, grant priority review, or grant approval of FILSPARI for FSGS.
- Risks associated with the regulatory review and approval process for new indications and modifications.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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