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Inrig Jula, Chief Medical (TASE:PMCN) Officer of Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold a total of 2,506 shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on January 3 and January 6, amounted to a total of $47,714. The sales come as Travere's stock has shown remarkable strength, posting a 137% gain over the past six months. According to InvestingPro analysis, the company currently maintains a FAIR financial health score despite operating with moderate debt levels.
On January 3, Jula sold 2,066 shares at a price of $19.10 per share, totaling $39,460. This sale was necessary to cover tax obligations related to the settlement of vested restricted stock units, as mandated by the company's equity incentive plans. The transaction was not a discretionary trade by Jula.
Subsequently, on January 6, Jula sold an additional 440 shares at a price of $18.76 per share, totaling $8,254. This sale was part of a pre-arranged trading plan established in March 2024 under Rule 10b5-1(c) of the Securities Exchange Act, which also included covering tax obligations from vested restricted stock units.
Following these transactions, Jula holds 59,443 shares of Travere Therapeutics. For deeper insights into insider trading patterns and comprehensive financial analysis, including 9 additional ProTips and detailed valuation metrics, visit InvestingPro, where you'll find expert research reports covering over 1,400 US stocks.
In other recent news, Travere Therapeutics has announced plans for a public stock offering, with the size and timing subject to market conditions. The offering will be managed by Jefferies and Leerink Partners. This development comes as Travere reports significant third-quarter growth, with a 30% increase in net sales driven by the full approval and launch of its drug FILSPARI for IgA nephropathy. Total (EPA:TTEF) revenue for the quarter rose to $62.9 million, marking a 69% increase from the same period in 2023. Despite this, the company reported a net loss of $54.8 million, attributed to a one-time gain from a product sale in the previous year. Travere also highlighted its progress in the sparsentan program for Focal Segmental Glomerulosclerosis, with promising study results and upcoming regulatory discussions. The company maintains a strong cash position of $277.4 million amid these recent developments.
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