Travere Therapeutics at Leerink Conference: Filspari’s Promising Path

On Tuesday, 11 March 2025, Travere Therapeutics (NASDAQ: TVTX) shared its strategic progress at the Leerink Global Healthcare Conference 2025. The company highlighted significant achievements and challenges, focusing on the full approval of Filspari for IgA nephropathy and its potential expansion into FSGS. While optimistic about market opportunities, Travere also acknowledged ongoing operational hurdles.

Key Takeaways

• Filspari’s Q4 revenue and patient start forms grew by 40%, surpassing previous launches.
• The company is preparing for potential FSGS approval, with a market of 30,000 U.S. patients.
• Manufacturing issues paused Pegmatomax Phase 3 trials, with resumption expected next year.
• Travere aims to establish Filspari as a foundational therapy for IgA nephropathy.

Financial Results

• Filspari Launch:

- 40% growth in Q4 for both patient start forms and revenue.

- Revenue exceeded previous rare kidney disease launches by over 30%.

- Broad access pricing with over 96% U.S. payer coverage.

• FSGS Commercial Opportunity:

- Addressable market of 30,000 patients in the U.S.

- Linear pricing model offers significant revenue potential.

Operational Updates

• Filspari REMS Modification:

- SNDA accepted for REMS modification, with a PDUFA date of August 28.

- Proposal to reduce liver function tests from monthly to quarterly in the first year.

• FSGS Development:

- Preparing SNDA submission based on proteinuria endpoint.

• HCU (Pegmatomax):

- Phase 3 enrollment paused due to manufacturing issues.

- Resolution in progress, with trials expected to resume next year.

Future Outlook

• Filspari for IgA Nephropathy:

- Aiming to position Filspari as a foundational therapy.

• Filspari for FSGS:

- Anticipated SNDA submission and approval.

- Larger commercial opportunity due to high urgency in treatment.

• Pegmatomax for HCU:

- Focus on enzyme replacement therapy for HCU patients.

- Resuming Phase 3 trials next year.

• HCU Market Expansion:

- Strategies to improve diagnosis rates through modernized screening and education.

Q&A Highlights

• Treatment Guidelines Alignment:

- Filspari positioned for combination therapy to target kidney damage.

- Payers recognize the need for proteinuria control.

• REMS Modification:

- Aimed at reducing patient burden and improving compliance.

• FSGS Subgroups:

- Acknowledged heterogeneity in FSGS, with consistent proteinuria reduction.

• Pegmatomax Manufacturing:

- Partnering with CDMO for expertise in therapy manufacturing.

Readers are encouraged to refer to the full transcript for a detailed account of Travere Therapeutics’ strategic plans and discussions at the Leerink Global Healthcare Conference 2025.

Full transcript - Leerink Global Healthcare Conference 2025:

Joe Schwartz, Analyst, Neurink Partners: Okay. Welcome, everyone. My pleasure to host this Fireside Chat with Trevir. I’m Joe Schwartz from the Biotech Equity Research team at Neurink Partners and I’m very pleased to be joined by Eric Dube, CEO, and Peter Heerma, Chief Commercial Officer.

Thanks so much for being with us and giving us an update today. Of course.

Eric Dube, CEO, Trevir: Thanks for having us.

Joe Schwartz, Analyst, Neurink Partners: So, maybe we can start by just having you give us a quick level set in order to bring us up to speed on all of your latest progress and the goals that you expect or you hope to fulfill this year in ’25. Sure.

Eric Dube, CEO, Trevir: Well, 2024 was an outstanding year and a really critical year in laying the foundation for for Travir. But I’d say even more importantly for a transformation that we’re seeing within the rare kidney space. We received full approval of Pillsbury for IgA nephropathy which really allows

Joe Schwartz, Analyst, Neurink Partners: for a

Eric Dube, CEO, Trevir: much broader patient population that could benefit from Pillsbury and you know near simultaneously we saw a very important update from the global guidelines the Kaneko guidelines that also advocated for a much more aggressive approach to treating this disease that historically has been seen as really slow progressing lower risk. We know that’s not the case.

Joe Schwartz, Analyst, Neurink Partners: And so

Eric Dube, CEO, Trevir: it was really nice to see the guidelines really pushing for that, which is really our number one goal as we go into 2025 is continuing the great momentum that Peter and his team have had with the launch of Vospari, establishing it as a new foundational therapy to replace the role that ACEs and ARBs have played for the overwhelming majority of patients and also the overwhelming majority of patients are failures to those therapies that never get close to remission. Our second goal, which is incredibly exciting to us is to potentially bring Fospari to the FSGS community. This has been an area that we’ve been working on for over ten years. It’s an area that has no approved medicines and it’s one that you know with our successful data in Produria, you know in the context of the Parasol findings in the fall, give us the opportunity to be able to submit an SNDA more attractive to that within, within a month. And then our third priority which is longer term but still incredibly important is, pegmatomax in classical homocystine urea or HCU.

This is a community that really has not had much innovation at all and as one where pegdebatinases, an enzyme replacement therapy really could serve as a really game changer for for this community. So this year is important in all three of those and really sets us up for very strong growth in the near and the long term. Great.

Joe Schwartz, Analyst, Neurink Partners: Okay, so thanks. Phil Spari’s had a really nice launch so far. Where do you see how do you how would you envision, you know, where we are in terms of the phase of the launch? Can you put that into perspective, based on your understanding of where we are on the adoption curve? Sure.

Peter Heerma, Chief Commercial Officer, Trevir: Yes, absolutely. I think overall really strong progress, especially in Q4 of last year after we got the full approval to Eric’s point like the broad label really created momentum. We saw basically a 40 growth both in patient start form as well as in revenue. So if I look at comparing Filspiri now to like the most reason three other RAN fraud team, which is we outperformed basically on every KPI and over 30% in revenue. So very slow on the continuation of the loans.

And I think to the point that you made earlier with FSGS, I think there will also be a halo effect on IT and property if there is a broader utilization for the product. So I think the way I think about where we are in

Joe Schwartz, Analyst, Neurink Partners: the London territories. Great. And then if we were to zero in on the new treatment guidelines, can you remind us what these say and how they how FOSPAR is positioned in light of those?

Peter Heerma, Chief Commercial Officer, Trevir: Yes, I’m happy to take that one. I mean, there’s two elements that really helped Fospari in driving growth. One is the target proteinuria levels was reduced basically from one gram per day to 0.5 or preferably zero point three grams per day, so basically full admission that’s the new target. To earlier point like historically this like IgA Entropathy was seen as a relatively benign disease, more slowly progressive disease. Based on the work that we did investing in registries, now physicians are much more aware that this is actually a much more progressive disease and the guidelines incorporate that as well and basically say now full remission is the target.

So I think that’s number one. The second one is the positioning of Filspari. The guideline basically say that Filspari is the only product that has shown head to head superiority versus the established standard of care or the historical standard of care agent ARCs and that really helped us one, to position FOSPIRE in the broader patient population, but two, also to make it to

Eric Dube, CEO, Trevir: get across the superiority claim versus agent ARCs. Maybe the third thing that I’ll add about the PDUCO guidelines is really to address what I think within the investor community is the debate around where do these emerging innovative classes fit. And the Codigo guidelines seeing the potential evolution of the treatment landscape really laid out a nice framework that should be robust, you know, regardless of what comes to the patient community and that is that this is a disease that requires simultaneous combination therapy at diagnosis. That’s very very, you know, I talked about aggressive treatment it’s really aggressive and shifting from the conservative of start with one then add another it’s combination therapy and it’s addressing the two core defects in this disease. You have to address the kidney damage because by nature every single patient that is diagnosed at biopsy has chronic kidney disease as part of their I.

G. Nephropathy. That requires a therapy, a foundational therapy that is non immunosuppressive and it addresses mechanisms of damage in the kidney. That’s where Fospari fits in. The other aspect of the treatment paradigm is the immune over activation, which is the etiology of the disease, but it’s it’s complementary to what goes on in the kidney and that’s where historically steroids have addressed the over activation and the immune suppression but then in the future complement B cell will fit in and so it’s not an either or.

This there nothing is curative and nothing is a winner takes all in terms of the treatment landscape. It’s about combination therapy and that really sets Filspari up nicely to be the new foundational therapy. Really the only competitor that we see are generic ACEs and ARBs that we know fail most of these patients. Okay,

Joe Schwartz, Analyst, Neurink Partners: yeah, very helpful perspective. And you have a lot of experience now commercially and in dealing with payers, is it your sense that they’ll be aligned with this need? Do they appreciate the total cost of ownership of these patients who go on to consume a lot of healthcare resources if their protein area is not

Peter Heerma, Chief Commercial Officer, Trevir: under control? Yes, if I look at the payer front, I think we have made incredible progress with the rate of patients that have access to care. Like over ninety six percent of the patients in The U. S. Have a pathway to reimbursement for filsparis.

That’s incredibly strong. I think where you’re alluding to is like an evolving landscape and you have new products also modalities that are impacting the over activation of the immune system. But we don’t know yet what the price is. We can only control what we can control ourselves. And that is that we have a very strong inclusion in the formularies, but also we price for broad access.

I mean, Philspari is priced for broad access and that’s also being reflected in the current formularies. And new modalities that come to market have to make the case that they should be added on top of that. To your point, I think what I really liked, Professor Jurgen Froegel from Germany, who is the Chair of KedIGO guidelines, he basically made the case when KedIGO was introduced, you have kidney damage. Patients that show up in the nephrology office have kidney damage. So you have to target the kidney damage in addition to the over activation of the immune system.

The nephroprotective effect of filsparis is well known and I think that is being reflected at payers and formularies as well.

Joe Schwartz, Analyst, Neurink Partners: Yeah, I

Eric Dube, CEO, Trevir: think I think you know just to add an additional layer thinking about what payers really are looking for. Of course, they want to have you know the data from the Phase three as well as approval, but the quality of evidence is really important. The data from our phase three protected study is the only head to head data. Everything else is placebo controlled on top of standard of care. That level of evidence in the eyes of a payer is really important because it tells you, you know, why are they making decision to invest in something like FOSPARI versus something like ACE or ARBs.

They’re not going to have that level of evidence with all of the other therapies that are coming that are looking at, you know, from a positioning standpoint replacing the role that steroids have historically played but with a lower level of evidence because you’re not looking at head to head. So, you know, I think that’s really the question that payers are going to have is we know where filspari fits in. Where do the rest of them fit in relative to the generic therapies that are there?

Peter Heerma, Chief Commercial Officer, Trevir: And I would take it even one step further. It’s the head to head, but it’s also now we have the full approval and you have demonstrated that impressive 50% reduction in proteinuria actually results in long term kidney preservation as well. Like new entrants to the market, they won’t have that data. And most likely, they will have like a more limited label as well for more rapidly progressing patients with sputumuria levels of 1.5 and higher. So to Eric’s point, I think we have the highest rigor of evidence, most head to head as well as long term data.

Joe Schwartz, Analyst, Neurink Partners: Yes, the value proposition seems pretty clear. And it’s striking to see that you know you’ve been able to achieve such strong uptake in light of a liver REMS which you’re working to hopefully ease a bit. Can you give us the latest update on that front? Sure.

Eric Dube, CEO, Trevir: So we do have an accepted SNDA for that REMS modification and we have a PDUFA date of August 28 and, you know, we’re very pleased with the engagement with the agency both before submission as well as you know with with the S and B A in. So, you know, our current assumption is that we’re on track for that modification. I think what’s important is that, you know, the REMS as it is now has not been a barrier for patients that we’ve been able to treat. The question is how many more patients have it has their their nephrologist decided this is a patient that may not be compliant and I’m not going to offer it Filspari. Well for something like FilSpari that’s so unique relative to other treatment options we want to make sure that it’s available for all of those patients.

So we’ve been incredibly pleased with the performance to date and you know, we believe that the best is yet to come.

Joe Schwartz, Analyst, Neurink Partners: Is there any way to contextualize? Well, actually, let me just back up a bit and first ask, you know, what was the proposal that you that you brought to the FDA exactly?

Eric Dube, CEO, Trevir: Sure. Well based on the existing data from clinical trials as well as the exposure within the commercial market that we continue to see no cases of drug induced liver injury. And what we’ve said is that, you know, the current framework for the REMS, which is liver testing once a month for the first year and then quarterly thereafter. Yes, of course, that’s going to help in figuring out who may have elevated AST, ALT, but the burden for patients is far too great particularly relative to the fact that we’ve not seen any cases of liver damage and that it is much more frequent testing than what we did in our phase two and phase three where we had very good kind of safety oversight. So we’ve asked for a shift from monthly in the first year to quarterly, which is much more aligned with how the average IGA nephropathy patient is seeing their nephrologist and getting their testing done.

Joe Schwartz, Analyst, Neurink Partners: Okay, great. And maybe we should shift to FSGS. The more things change, the more they stay the same, right? I mean, this is how the story started so long ago. I remember when we began covering you and you know, you’re getting great traction now, it seems in the community, where there’s a lot of demand.

So can you just update us on the latest initiatives there as it relates to Parasol and the FDA? Sure.

Eric Dube, CEO, Trevir: Well, I think you know in the context of FSGS this is one of the most proneuretic rare kidney diseases and it is a heterogeneous disease which makes it difficult to study because it’s not a singular disease it is a podocytopathy is the way in the in the kind of way that nephrologists and experts in the field think about it and when you think about this disease in the context of sparsentan, sparsentan has direct effect on podocytes and is one of the most anti proteinuric medicines that has been studied. So, of course, it’s a very good fit for FSGS. What I would say is that our phase two and phase three in some ways was ahead of its time because we’ve been working as you alluded to for ten years and we’ve learned along the way we’ve learned from our phase three which is the only phase three ever done in this study and I think you know the conclusion that is now being drawn from our study as well as Parasol is eGFR while meaningful in any kidney disease is not feasible in a clinical trial setting and as a regulatory endpoint because of the heterogeneity in this disease.

Very different from IgA nephropathy. Now, we could have assumed that years ago, but we didn’t know and now we know and so Parasol has now said you’ve got to understand you know that proteinuria is independently predictive of longer term outcomes, which is largely what we see in our phase three program. And so when we now take a step back from, you know, Parasol and engage with the FSGS thought leader community it is consistently positive saying of course we need to have hyalospari in our our own material. We know the effect it has on podocytes. We know the effect that it has on proteinuria and even though the study was not powered to show a difference in heart endpoints in kidney failure and dialysis, you see a fifty percent reduction in the number of patients that were getting those those endpoints.

So it’s a really exciting time and you know for us to get a file into the FDA is our next step and we’re very excited about where we are.

Joe Schwartz, Analyst, Neurink Partners: Yeah, that squares with a lot of our checks. So, how are you thinking about whether or not a the FDA might want to convene an adcom in order to review this just considering there’s been so much back and forth with the agency and it seems like it’s been a very organic process which is good because it’s data driven and it’s robust from that perspective, but I’m just wondering, you know, procedurally if the FDA is going to want to do that.

Eric Dube, CEO, Trevir: Yeah, well we’ll certainly know whether FDA wants an advisory committee or not by the time a file is accepted. So, you know roughly sixty days after the file goes in. You know, and you’re right this has been a very organic driven from the community both the nephrology as well as patient community which is in large part how a lot of innovation happens within rare disease. So, you know, there is precedent for these things to happen and I think what we’re seeing coming out of Parasol and this movement is a consensus that proteinuria should be an endpoint for full approval and in fact we heard that from Eliza Thompson, the director of cardiorenal, as part of the Parasol readout that, you know, they the FDA really does foresee approving for full approval something like a proteinuria based on a proteinuria endpoint. Now with regard to whether there is going to be an advisory committee or not, you can make an argument either way.

You know, you can say that in the context of Parasol there is consensus around the endpoint if that’s the question that FDA has. On the other hand, they can say this is precedent setting, this is the first potential full approval on a proneuria endpoint and we may want to be able to have the public forum that that an advisory committee has. At this point, it’s anybody’s guess and we’ll be prepared regardless. Yep.

Joe Schwartz, Analyst, Neurink Partners: Okay, great. And then, how do we think about how do you think about the commercial opportunity in FSGS? These are a lot of the same doctors, but the patients are a little bit different. So help us think through that.

Peter Heerma, Chief Commercial Officer, Trevir: Yeah. Happy to take that one. I think the commercial opportunity in FSGS is even bigger than in IgA nephropathy. To the point that you’re making like this is basically the same prescriber base, over 80% of the prescribers are the same as for IgA nephropathy. So you build upon a very strong brand awareness.

Many of the physicians have already experienced with Philips Pari. And through the conversation that we just had from a payer perspective, we have a very strong placement in formularies already. So you build upon a strong base. There is slightly less patients in The U. S.

We think there is an addressable patient population at launch of about 30,000 patients. But it’s linear pricing, so we expect from a pricing perspective, you have an opportunity there and there is no competition basically. I mean, it’s a wide space. We really have an opportunity to occupy this field. And other than IGA nephropathy, where you really had to establish the urgency to treat earlier to my to the point that I made earlier, historically, IGA was seen as a more benign disease.

Every nephrologist really understands like the high urgency to treat those patients and treat those patients more aggressively. So high unmet needs, well established urgency to treat patients earlier and a very strong established brand awareness and experience level at nephrologist with coupled with strong payer access, I think will allow for a very rapid uptake in FSGS.

Joe Schwartz, Analyst, Neurink Partners: Interesting. And, I understand that there’s a overall higher urgency to treat, but I also hear so much from the physicians that see these patients that it’s so heterogeneous and almost a diagnosis of, you know, by biopsy and some of the biopsies are scary and so are there any particular patient subgroups that within this setting, you know, are the most urgent

Eric Dube, CEO, Trevir: to treat? Yes, it’s a great question and this is an area where I suspect that with additional clinical data and with additional companies looking to go into FSGS, we’re going to learn more. We’re going to learn more as we are seeing, you know, different subsets of FSGS are going to require different, you know, potential therapeutic approaches. And if we think about what we know today, there are four categories of FSGS. There’s primary FSGS, which is typically driven by a circulating factor, you know, thought to be within the immune system.

There is genetic FSGS and there’s a panoply of different genotypes that that may lead to FSGS APEL1 being one of them, as an example. There is secondary FSGS which is secondary to another condition such as diabetes, hypertension, infection, but the cause effect of those is often uncertain because you’ve got to follow these patients for long term and then there’s unknown causes as the fourth. Now, we are starting to see much more targeted areas of focus, for example, APOL1, which is about ten percent of FSGS, there’s antinephrine as a potential immune directed therapy that’s about ten or eleven percent of FSGS and so there likely will be some segments for for those therapeutic areas. As we think about sparsentan or fospari, what we’ve been very pleased with is regardless of what the etiology of this disease you see a consistent benefit of about fifty percent reduction in proteinuria. So even the most difficult to treat, the most refractory and steroid resistant patients, the genetic patients, we see a consistent benefit.

That was really eye opening to the nephrology community when we presented those data at ASN in the fall. So for our standpoint when we think about the opportunity of Vilspari doesn’t matter where you start with FSGS. If you have proteinuria, Vilspari would be the foundation therapy that non immunosuppressive targeted kidney targeted therapy. That then potentially may serve as the kind of basis upon which you can add more targeted therapies in the future if they are successful. Yes, that’s super helpful.

Peter Heerma, Chief Commercial Officer, Trevir: Yes, I mean the consistency of effect I think that is impresses me most of this product. I mean, Pierre was talking about the 50% reduction in proteinuria and FSGS, we saw the same in allergy nephropathy. But what we hear on a daily basis from the pharologist is basically with a few exceptions, basically every nephrologist talks about like the rapid and sustained proteinuria effect. And basically the next time a nephrologist is seeing the patient, they have fifty percent, sixty percent, seventy percent proteinuria reduction and that is really the consistency of the effect across what we’re seeing and hearing from physicians. Great.

Joe Schwartz, Analyst, Neurink Partners: And why is the dose twice as high in FSGS? Is that consistent across all the different subgroups? And then I know that, yeah, we’ll start.

Eric Dube, CEO, Trevir: Yeah, so I think when we look at our phase two study, we did study two hundred, four hundred and eight hundred milligrams and we did see that, you know, for adult patients four hundred and eight hundred you do see a benefit in reduce reducing you know and there’s not there’s a marginal difference between the two but what’s important is when you look at the pharmacokinetics and pharmacodynamics of the medicine and you take into account also that sparsentan is highly protein bound and when you think about how proteinuric these patients are they’re basically peeing out a lot of the protein you want to make sure that you have enough sparsentan in your system to be able to have the coverage and so when you think about that in FSGS relative to IgA nephropathy, increasing the dose allowed for sufficient exposure to have the benefit in in the broadest number of patients. And and, you know, there are other earlier studies with other therapies that looked at the same dynamic where they had to go up in dose in order to have the effect.

Joe Schwartz, Analyst, Neurink Partners: Right, and is that the same for children as well

Eric Dube, CEO, Trevir: as adults? So for children the dose is half so if for FSGS you would you would start at two hundred and then up titrate to four hundred as the target dose. Okay, great.

Joe Schwartz, Analyst, Neurink Partners: So why don’t we shift gears to pegmatinase and Hcu and maybe you can just start by telling us where you were in development before you hit the speed bump and what needs to be done in order to resolve that manufacturing issue? Sure. So,

Eric Dube, CEO, Trevir: last year we were very pleased to have started our phase three program and this was based on very strong engagement with the FDA. We have breakthrough therapy designation, so we have very good engagement

Joe Schwartz, Analyst, Neurink Partners: and this is a

Eric Dube, CEO, Trevir: very innovative trial design because not only do we want to replicate what we saw in our phase one two, which is a standard reduction in homocysteine levels, which is you know central to the theory of, you know, why you see the clinical outcomes, but also, you know, the the central to the core kind of enzymatic defect. But we also wanted to be able to address what is the number one need of patients and so we were working with FDA on an endpoint that also allows for liberalization of the diet. Essentially, the standard of care for these patients is restricting protein oftentimes to less than 10 grams of protein a day plus a terribly tasting medical protein powder. And so this is what patients want and really need for their overall kind of health and well-being and we were able to protocolize that. So we had initiated this phase three there was a real excitement within the community to enroll and there was that there was an additive incentive that they might be able to increase protein in their diet.

All of that was going very well. We ran into an issue with manufacturing where we go from clinical scale manufacturing to commercial scale. Very common to kind of run into challenges and this is a challenge that we ran into that our CDMO partners had seen before with these types of therapies. And so we decided that while we were everything was within spec, some of the companies have run into challenges later, you know, particularly in their file that we wanted to say, let’s pause, let’s resolve this. We know that it’s resolvable based on the experience of our CDMOs and the best thing to do is to pause enrollment of further patients, continue those patients that are already enrolled in through to the completion of the protocol, and we’re on track to be able to do that.

We’ve seen really good progress with our CDMO partners, but we’ve also seen really good progress in identifying further patients so that when we do open enrollment, we’re on track to do so next year, that we’ll be able to accelerate the rate of enrollment. Right. Okay.

Joe Schwartz, Analyst, Neurink Partners: And what does the market look like in H. C. U? I imagine it’s really under served obviously with nothing but very traditional means of trying to manage these patients and, you know, what does Trevir hope to do in order to develop the opportunity? So right now if

Eric Dube, CEO, Trevir: we think about the addressable population, these are patients that are actively under the care of a physician that have a diagnosis of homocyst classical homocystinuria and have elevated homocystine levels. That’s about three thousand five hundred patients. When we take a step back and look at those patients that are diagnosed there’s about twelve thousand patients. We believe like so many other rare diseases that this is one that the diagnosis rate is low and also the number of patients that are under the care actively of a physician is also low and I’ll explain that in two reasons. The first is this is part of the newborn screening panel and because the methodology looks at methionine levels rather than homocysteine levels, which does vary at birth, you get about a fifty percent hit rate.

So fifty percent of babies that are born with classical homocysteine, homocystinuria, go undetected until they have clinical symptoms like lens dislocation, psychiatric issues, bone malformation, or God forbid, what fifty percent of these patients have by the time they’re 30, an ischemic event. That may that may precipitate a diagnosis. So there is really an opportunity to do that. We’ve been working over the last couple of years to modernize newborn screening for HCU and to do other methodologies to be able to catch these patients earlier. So that’s a that’s a longer term play that we believe will be able to help serve these patients and catch them earlier.

The other aspect of this disease is these patients, you know, what else is there that a treating physician is going to say typically a metabolic specialist then watch your diet. Well, who wants to hear that? And so you actually hear patients by the time they become young adults they actually fall out of care and that’s where you typically see patients homocysteine levels rise because they’re now adults, they’ve been under this restrictive diet and you know teenagers and young adults like to form their own identity and they start to have liberalized their own diet. So there’s a real opportunity for education for giving them something more than just scolding them on diet and catching them earlier. Those are the things that we believe will be able to help in reaching more patients and we believe that’s certainly far greater than the addressable population that exists today.

Peter Heerma, Chief Commercial Officer, Trevir: One thing to add, I was talking about three and a half thousand patients and 12,000 patients. That’s U. S. Alone. In Europe, we anticipate a single amount of patients as well.

Joe Schwartz, Analyst, Neurink Partners: Fantastic. Well, we covered a lot of ground, but we’re out of time. So, we’ll leave it there. And thank you so much for the update. All

Eric Dube, CEO, Trevir: right. Thanks,

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