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Investing.com -- Travere Therapeutics, Inc. (NASDAQ:TVTX) reported third-quarter earnings that significantly exceeded analyst expectations, driven by robust sales growth of its kidney disease treatment FILSPARI. The stock surged 11.5% in after-hours trading Thursday following the announcement.
The biopharmaceutical company posted adjusted earnings of $0.59 per share, dramatically outperforming analyst estimates of -$0.29. Revenue reached $164.9 million, far exceeding the consensus forecast of $105.57 million. The strong performance was fueled by U.S. net product sales of FILSPARI, which grew 155% YoY to $90.9 million, with 731 new patient start forms received during the quarter.
Total revenue included a $40 million EU market access milestone payment from partner CSL Vifor and $9.3 million of non-cash license revenue from its partnership with Renalys.
"We delivered outstanding commercial performance in the third quarter, reflecting the growing role of FILSPARI as a foundational therapy in IgAN," said Eric Dube, president and CEO of Travere Therapeutics. "This success underscores the strength of our commercial execution and the expanding confidence in FILSPARI among physicians and patients."
The company strengthened its financial position by retiring the remaining $69 million of its 2025 convertible notes. As of September 30, Travere had $254.5 million in cash, cash equivalents, and marketable securities, not including the $40 million milestone payment received in October.
Travere is preparing for a potential FDA approval of FILSPARI for focal segmental glomerulosclerosis (FSGS) in the first quarter of 2026. The FDA has set a target action date of January 13, 2026, and recently determined that an advisory committee review is no longer needed.
The company also highlighted that updated KDIGO clinical practice guidelines now include FILSPARI for earlier, first-line use in IgAN patients at risk of progression, positioning it as the only therapy with proven efficacy compared to optimized RAS inhibitors in clinical trials.
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