Travere Therapeutics Q2 product sales rise on FILSPARI demand

Travere Therapeutics

04/08/2026 21:15

Overview
U.S. biopharma's Q2 net product sales rose 70% yr/yr, driven by FILSPARI growth
Company posted a Q2 net loss after a $40 mln inducement expense tied to convertible note repurchases
Travere in-licensed civorebrutinib, expanding rare kidney disease pipeline

Outlook
Travere expects topline data from pegtibatinase Phase 3 HARMONY Study in 2H 2027
Company plans to initiate a Phase 4 FILSPARI study in FSGS patients of African ancestry in 2H 2026
Travere anticipates data presentations from the SPARX Study in recurrent IgAN or FSGS in 2027

Result Drivers
FILSPARI SALES GROWTH - Co said U.S. net product sales of FILSPARI rose 96% yr/yr, driven by early FSGS launch and continued IgAN growth
COMMERCIAL INVESTMENT - Higher SG&A expenses attributed to commercial investments supporting FILSPARI launch in FSGS and ongoing IgAN commercialization
R&D SPENDING - Increased R&D expenses primarily due to advancement of the Phase 3 HARMONY Study and manufacturing of pegtibatinase

Company press release: ID:nBwbvmf9na

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Product Sales
 
$161.35 mln
 
Q2 Loss Per Share
 
$0.37
 
Q2 Net Loss
 
$34.80 mln
 
Q2 Operating Expenses
 
$165.63 mln
 
Q2 Operating Income
 
$3.95 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 $61.00, about 10.9% above its August 3 closing price of $54.98
The stock recently traded at 54 times the next 12-month earnings vs. a P/E of 62 three months ago

Reuters Recommended Reads
Aug 4 - Rhythm Pharmaceuticals Q2 net loss narrows on US launch demand
Aug 3 - Crinetics Q2 revenue jumps on PALSONIFY launch, withdraws guidance
Aug 4 - ImmunityBio Q2 net product revenue rises 92%

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)