Travere Therapeutics Q1 product sales rise on FILSPARI demand

Travere Therapeutics

04/05/2026 21:13

Overview

U.S. biopharma's Q1 product sales rose 64% yr/yr, driven by FILSPARI demand

Company posted a GAAP net loss but achieved non-GAAP adjusted net income for Q1

Higher R&D and SG&A expenses reflect investments in clinical programs and commercial launches

Outlook

Company expects topline data from Phase 3 HARMONY study in 2H 2027

Travere sees substantial growth opportunity following FDA approval of FILSPARI in FSGS

SPARX study enrollment for FILSPARI in post-transplant patients expected to complete in Q2 2026

Result Drivers

FILSPARI DEMAND - Record new patient start forms and continued demand from prescribers drove FILSPARI sales growth in IgAN

FSGS APPROVAL - FDA approval of FILSPARI in FSGS expanded addressable patient population and led to first FSGS patients treated within a week

R&D AND COMMERCIAL INVESTMENTS - Increased R&D expenses due to restart of Phase 3 HARMONY Study; higher SG&A expenses from FILSPARI launch preparations in FSGS and commercial investments in IgAN

Company press release: ID:nBw5qRMwDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Product Sales
$124.49 mln
Q1 EPS
-$0.40
Q1 Net Income
-$37.10 mln
Q1 Operating Expenses
$164.11 mln
Q1 Operating Income
-$36.92 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Travere Therapeutics Inc is $50.00, about 13.3% above its May 1 closing price of $44.12

The stock recently traded at 65 times the next 12-month earnings vs. a P/E of 46 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)