Following this sale, Rote retains ownership of 83,170 shares. The transaction was conducted under a pre-established Rule 10b5-1 trading plan, which was designed to facilitate the sale of shares to cover tax obligations arising from the vesting of restricted stock units. Additionally, Rote’s current holdings include 1,152 shares acquired through the company’s 2017 Employee Stock Purchase Plan. With a market capitalization of $1.81 billion and a bullish analyst consensus, InvestingPro subscribers can access 12 additional key insights about Travere Therapeutics’ financial health and market position. With a market capitalization of $1.81 billion and a bullish analyst consensus, InvestingPro subscribers can access 12 additional key insights about Travere Therapeutics’ financial health and market position.
Following this sale, Rote retains ownership of 83,170 shares. The transaction was conducted under a pre-established Rule 10b5-1 trading plan, which was designed to facilitate the sale of shares to cover tax obligations arising from the vesting of restricted stock units. Additionally, Rote’s current holdings include 1,152 shares acquired through the company’s 2017 Employee Stock Purchase Plan.
In other recent news, Travere Therapeutics has announced plans for a public stock offering, with Jefferies and Leerink Partners managing the offering. The specifics of the offering, including completion, timing, and size, are dependent on market conditions. The company has also reported a robust Q3 2024, with a 69% increase in total revenue from the same period in 2023, reaching $62.9 million. This growth was largely driven by the commercial launch of its drug FILSPARI for IgA nephropathy, which led to a 30% increase in net sales from the previous quarter. However, Travere also reported a net loss of $54.8 million, attributed to a one-time gain from a product sale in the previous year.
In addition to these developments, Travere is making strides in its sparsentan program for Focal Segmental Glomerulosclerosis, with promising study results and upcoming regulatory discussions. The company has submitted an sNDA to the FDA to modify liver monitoring frequency for FILSPARI. Despite the net loss, Travere maintains a solid cash position of $277.4 million. These recent developments underscore Travere’s commitment to its growth strategies, particularly around FILSPARI and sparsentan.
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