Quarterly ResultMay 4, 2026, 04:53 PM
Travere Q1 Revenue $127.2M, Net Loss $(37.1M); FILSPARI FSGS Approved
AI Summary
Travere Therapeutics reported increased revenue and a reduced net loss for the first quarter of 2026. The company also announced the full FDA approval of FILSPARI for Focal Segmental Glomerulosclerosis (FSGS) on April 13, 2026, making it the first and only approved medicine for this condition. Additionally, Travere restarted enrollment for its pivotal Phase 3 HARMONY Study for pegtibatinase in Q1 2026, following a voluntary pause to address manufacturing scale-up improvements. The company also reclassified royalty expense for better financial presentation.
Key Highlights
- FILSPARI received full FDA approval for FSGS on April 13, 2026, as the first and only approved medicine for the condition.
- Total revenue for Q1 2026 increased to $127.2 million, up from $81.7 million in Q1 2025.
- Net product sales for Q1 2026 reached $124.5 million, compared to $75.9 million in Q1 2025.
- Net loss for Q1 2026 was $(37.1) million, an improvement from $(41.2) million in Q1 2025.
- Research and development expenses increased to $57.1 million in Q1 2026 from $46.9 million in Q1 2025.
- Selling, general and administrative expenses rose to $80.3 million in Q1 2026 from $60.4 million in Q1 2025.
- Cash and cash equivalents stood at $78.4 million as of March 31, 2026, down from $93.0 million at December 31, 2025.
- Enrollment for the pivotal Phase 3 HARMONY Study for pegtibatinase restarted in Q1 2026.