Travere Q3 product sales nearly double on FILSPARI growth

Overview

• U.S. biopharma firm's Q3 product sales rose 95% yr/yr, driven by FILSPARI growth

• Company posted Q3 net loss, reversing profit from prior year

• Higher R&D and SG&A expenses, plus IPR&D charge, weighed on quarterly results

Outlook

• Company expects topline results from Phase 3 HARMONY Study of pegtibatinase in 2H 2027

• Travere plans to submit U.S. IND for civorebrutinib by year-end to enable dosing studies

• Company anticipates first patient in SPARLIGHT Study of FILSPARI in FSGS by year-end

Result Drivers

• FILSPARI SALES - Q3 U.S. net product sales rose 120% yr/yr to $200.2 mln on expanding reach in IgAN and FSGS

• PATIENT DEMAND - Co received 1,932 new patient start forms in Q3, reflecting continued IgAN demand and early FSGS launch momentum

• OPERATING EXPENSES - Results included a $113.1 mln IPR&D charge tied to the civorebrutinib licensing deal, while R&D and SG&A expenses also increased

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Travere Therapeutics, Inc. is $75.00, about 48.8% above its October 30 closing price of $50.39

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 55 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)