Travere Therapeutics Reports 111.5% Revenue Growth to $114.4 Million in Latest Quarter

Travere Therapeutics, Inc. reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved total revenue of $114.4 million, a substantial increase of 111.5% compared to $54.1 million in the same period last year. This growth was primarily driven by a notable rise in net product sales, which reached $94.8 million, up from $52.2 million in the prior year. The increase in product sales was largely attributed to the successful commercialization of FILSPARI, which saw sales of $71.9 million, compared to $27.1 million in the previous year. Additionally, license and collaboration revenue surged to $19.6 million, significantly higher than $1.9 million in the prior year, bolstered by a $17.5 million regulatory milestone payment from CSL Vifor.

Despite the revenue growth, Travere reported an operating loss of $12.7 million for the quarter, a marked improvement from the $67.7 million loss in the same quarter of 2024. The company’s total operating expenses increased slightly to $127.1 million from $121.8 million, driven by higher selling, general, and administrative costs, which rose to $76.2 million from $64.8 million. Research and development expenses decreased to $49.4 million from $54.3 million, reflecting a reduction in costs associated with ongoing clinical trials, particularly for pegtibatinase, which is currently on hold.

In terms of operational developments, Travere has made significant strides in expanding its product offerings and market presence. The company received full FDA approval for FILSPARI in September 2024, which is now available in the U.S. for treating primary IgAN. Furthermore, the company has entered into strategic licensing agreements, including a partnership with Renalys Pharma to commercialize sparsentan in Asia, and expanded its collaboration with CSL Vifor to include additional territories. As of June 30, 2025, the company had cash and cash equivalents of $75.2 million, alongside marketable debt securities valued at $244.4 million, providing a solid financial foundation for future operations.

Looking ahead, Travere anticipates continued growth driven by the commercialization of FILSPARI and potential approvals for its pipeline products, including sparsentan for FSGS. The company has submitted a supplemental New Drug Application (sNDA) for sparsentan, with a target action date set for January 13, 2026. However, the company also acknowledges the inherent risks associated with clinical trials and market competition, which could impact its financial performance and operational strategies in the future. Overall, Travere's management remains optimistic about the company's trajectory, emphasizing the importance of executing its commercialization strategies and maintaining a skilled workforce to support its growth objectives.