This transaction was executed under a prearranged trading plan established on March 15, 2024, in accordance with Rule 10b5-1(c) of the Securities Exchange Act of 1934. The sale also included shares sold to cover tax obligations arising from the vesting of restricted stock units.Following this transaction, Reed retains ownership of 76,933 shares of Travere Therapeutics, which includes 737 shares acquired through the company's 2017 Employee Stock Purchase Plan on November 29, 2024. The stock has shown remarkable strength, with InvestingPro reporting a 129.69% return over the past year. Investors looking for deeper insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, with the next earnings announcement scheduled for March 3, 2025. The stock has shown remarkable strength, with InvestingPro reporting a 129.69% return over the past year. Investors looking for deeper insights can access the comprehensive Pro Research Report, available exclusively on InvestingPro, with the next earnings announcement scheduled for March 3, 2025.
This transaction was executed under a prearranged trading plan established on March 15, 2024, in accordance with Rule 10b5-1(c) of the Securities Exchange Act of 1934. The sale also included shares sold to cover tax obligations arising from the vesting of restricted stock units.
Following this transaction, Reed retains ownership of 76,933 shares of Travere Therapeutics, which includes 737 shares acquired through the company's 2017 Employee Stock Purchase Plan on November 29, 2024.
In other recent news, Travere Therapeutics has announced plans for a public stock offering, with Jefferies and Leerink Partners managing the operation. The specifics of the offering, including its completion, timing, and size, are dependent on market and other conditions.
Additionally, Travere Therapeutics has demonstrated robust growth in the third quarter of 2024, largely due to the commercial launch of its drug FILSPARI for IgA nephropathy. This development resulted in a 30% increase in net sales, with total revenue reaching $62.9 million, a 69% increase from the same period in 2023. Despite a reported net loss of $54.8 million, the company maintains a strong cash position of $277.4 million.
Travere Therapeutics is also making progress with its sparsentan program for Focal Segmental Glomerulosclerosis, with promising study results and upcoming regulatory discussions. The company has submitted an sNDA to the FDA to modify liver monitoring frequency for FILSPARI, indicating a continued commitment to its growth strategies. These recent developments serve as a testament to Travere Therapeutics' dedication to providing life-changing therapies for patients with rare diseases.
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