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SAN DIEGO—Christopher R. Cline, Chief Financial Officer of Travere Therapeutics, Inc. (NASDAQ:TVTX), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The transactions, which took place in early May, included both acquisitions and sales of shares. The company, currently valued at $1.9 billion, has seen its stock surge over 226% in the past year, according to InvestingPro data.
On May 2, Cline acquired 4,920 shares of common stock through the vesting of performance-based restricted stock units. This acquisition was made without any cash exchange, as each unit represented a contingent right to receive one share of common stock upon achieving certain performance criteria. This increase in shares was a result of the company’s confirmation that a performance criterion related to cumulative FILSPARI net revenue had been met.
Following this, on May 5, Cline sold 1,784 shares at a price of $21.05 per share, amounting to a total transaction value of $37,553. This sale was conducted to cover the tax withholding obligations related to the vested performance restricted stock units. The sale was not a discretionary trade by Cline but was mandated by Travere Therapeutics as part of its equity incentive plan, requiring a "sell to cover" transaction.
After these transactions, Cline’s direct ownership stands at 93,126 shares of Travere Therapeutics. The company maintains a healthy financial position with a current ratio of 2.05, indicating strong liquidity. For deeper insights into Travere’s financial health and additional metrics, visit InvestingPro, where you’ll find comprehensive analysis and 8 additional ProTips about the company’s performance.
In other recent news, Travere Therapeutics Inc. reported its first-quarter 2025 earnings, significantly surpassing analyst expectations. The company achieved an earnings per share (EPS) of -$0.19, compared to the forecasted -$0.55, and exceeded revenue projections with $81.7 million against an expected $78.05 million. This performance was driven by substantial growth in sales of its flagship product, FILSPARI, which saw a 182% increase in net sales year-over-year, reaching $55.9 million. Despite the positive earnings report, Travere’s stock experienced a minor decline. The company is also preparing for a potential FDA decision regarding a new indication for FILSPARI in the treatment of FSGS, expected in September. Analysts from firms such as TD Cowen and Guggenheim have been inquiring about the company’s interactions with the FDA, with management expressing optimism about the upcoming decision. Additionally, Travere anticipates receiving milestone payments from partnerships, which are expected to enhance its financial flexibility.
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