Travere Therapeutics (TVTX) said Thursday its kidney drug FILSPARI drove revenue growth of 77% over the last twelve months to $591 million, a figure that helped offset announcements of a CEO departure and a shifting competitive landscape for its IgA nephropathy franchise.
Shares of the rare-disease developer rose 0.6% to $60.19 in regular trading, after closing at $59.83 the previous session. The stock was last quoted at $60.00 after hours, up $0.17 or 0.28%. Travere shares have traded between $22.06 and $68.73 over the past year.
Speaking at the Stifel 2026 Virtual Immunology and Inflammation Forum on Sept. 24, CEO Eric Dube said the company has "never been in a stronger position" with both commercial performance and a diversified pipeline. Dube, who joined Travere eight years ago, will step down on Dec. 1; incoming CEO Bradley Campbell, who has deep experience in enzyme replacement therapy and connections to both the homocystinuria and FSGS communities, will take over.
Dube cited personal health issues he had intentionally deprioritized to deliver the first medicine for the focal segmental glomerulosclerosis community. He called Campbell "the ideal leader for Travere."
On the commercial side, the first full quarter of FILSPARI's FSGS launch produced 2,012 patient start forms — roughly double the run rate seen in IgA nephropathy. Thirty percent of FSGS prescribers were new to the FILSPARI franchise, while 70% had already prescribed the drug for IgAN. Gross-to-net pricing for FILSPARI is tracking in the mid-20% range.
Payer mix for IgAN remains 70% commercial and 30% CMS; the FSGS launch is expected to carry more CMS exposure but stay mostly commercial. In IgAN, patients titrate from 200 mg to 400 mg over two weeks at the same price; in FSGS they start at 400 mg and move to 800 mg after the first two weeks.
Dube highlighted that the IgAN method-of-use patent listed in the FDA Orange Book is set to expire in October 2037, with the FSGS method-of-use patent expected to be listed to the same date following a notice of allowance. He noted that competing BAFF inhibitors began entering the market in April 2024.
The pipeline update included pegtibatinase for homocystinuria, with Phase II proof-of-concept data showing a 67% reduction in homocysteine. About 3,500 diagnosed, uncontrolled HCU patients are under specialist care in the U.S., and roughly half experience an ischemic event before age 30. Phase III data for pegtibatinase is expected in the second half of 2026.
Siborotinib, a BTK inhibitor targeting primary membranous nephropathy, was also discussed as part of the company's rare-disease portfolio. Historical enzyme replacement therapy pricing for HCU ranged from $300,000 to $500,000 annually, with a recent Denali therapy priced above that range.
Travere reported gross profit margins of 59% and carries an InvestingPro financial health score of 3.0 out of 5, with a current ratio of 4.05.
