Quarterly ResultMay 4, 2026, 04:13 PM
Travere Therapeutics Q1 Sales $124.5M; FILSPARI FDA Approved for FSGS
AI Summary
Travere Therapeutics reported its first quarter 2026 financial results, highlighted by the FDA approval of FILSPARI for Focal Segmental Glomerulosclerosis (FSGS), significantly expanding its addressable patient population. The company achieved record U.S. net product sales of $124.5 million, an increase from $75.9 million in the prior year, with FILSPARI sales growing 88% to $105.2 million. Despite a GAAP net loss of $37.1 million, Travere reported a non-GAAP adjusted net income of $4.1 million and advanced its pegtibatinase Phase 3 HARMONY study with the first new patient dosed.
Key Highlights
- FILSPARI FDA approved for FSGS, expanding addressable patient population to over 100,000.
- Q1 2026 U.S. net product sales were $124.5 million, up from $75.9 million in Q1 2025.
- FILSPARI U.S. net product sales grew 88% year-over-year to $105.2 million.
- Net loss for Q1 2026 was $37.1 million, or $0.40 per basic share.
- Non-GAAP adjusted net income for Q1 2026 was $4.1 million, or $0.05 per basic share.
- R&D expenses increased to $57.1 million, primarily due to restarted Phase 3 HARMONY Study.
- SG&A expenses rose to $80.3 million, driven by FILSPARI FSGS launch preparation and IgAN investments.
- Cash, cash equivalents, and marketable securities totaled $264.7 million as of March 31, 2026.
- First new patient dosed in restarted Phase 3 HARMONY Study of pegtibatinase; topline data expected 2H 2027.