Travere Therapeutics SVP William Rote sells $47,424 worth of stock By Investing.com
Following this sale, Rote retains ownership of 83,170 shares. The transaction was conducted under the pre-established Rule 10b5-1 trading system, which was designed to facilitate the sale of shares to pay tax obligations arising from the issuance 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 cap of $1.81 billion and analyst consensus, InvestingPro subscribers can access 12 other key insights about Travere Therapeutics’ financial health and market condition. With a market cap of $1.81 billion and analyst consensus, InvestingPro subscribers can access 12 other key insights about Travere Therapeutics’ financial health and market condition.
Following this sale, Rote retains ownership of 83,170 shares. The transaction was conducted under the pre-established trading system of Rule 10b5-1, which was designed to facilitate the sale of shares to pay tax obligations arising from the issuance 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 announced plans for a public stock offering, with Jefferies and Leerink Partners managing the offering. The details of the offering, including completion, timing, and size, are subject to market conditions. The company also reported a strong Q3 2024, with a 69% increase in revenue from the same period in 2023, reaching $62.9 million. This growth was mainly driven by the commercial launch of its drug FILSPARI for IgA nephropathy, which led to a 30% increase in total sales last quarter. However, Travere also reported a net loss of $54.8 million, due to a one-time gain in product sales last year.
In addition to these events, Travere made progress on its sparsentan program for Focal Segmental Glomerulosclerosis, which has promising research results and future regulatory discussions. The company submitted an sNDA to the FDA to change the liver monitoring frequency of FILSPARI. Despite the total loss, Travere maintains a strong financial position of $ 277.4 million. These recent events underline Travere’s commitment to its growth strategies, especially in FILSPARI and sparsentan.
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