Travere Therapeutics, Inc. (NASDAQ: TVTX) today reported its second
quarter 2021 financial results and provided a corporate update.
- Following interactions with the European Medicines Agency (EMA)
during the second quarter of 2021, the Company expects to submit an
application for conditional marketing authorization (CMA) of
sparsentan for the treatment of focal segmental glomerulosclerosis
(FSGS) in Europe before year-end 2021
- The Phase 3 PROTECT Study of sparsentan in IgA nephropathy
(IgAN) completed patient enrollment in the second quarter of 2021;
topline data from the 36-week interim proteinuria analysis are on
track for August 2021
- Net product sales for the second quarter 2021 were $54.6
million, compared to $48.4 million for the same period in 2020
- Cash, cash equivalents and marketable securities, as of June
30, 2021, totaled $522.8 million
“We remain steadfast in our commitment to
advancing toward our goal of delivering sparsentan as a potential
new treatment standard for people living with FSGS and IgAN,” said
Eric Dube, Ph.D., chief executive officer of Travere Therapeutics.
“We are encouraged by recent interactions with EMA, and we remain
on-track to submit an application for conditional marketing
authorization for FSGS in Europe later this year. As previously
announced, we’ve adjusted our U.S. timelines for FSGS and look
forward to our upcoming Type A meeting with the FDA to further our
collaborative discussions on the potential to stay on an
accelerated approval pathway. Next month, we are looking forward to
the upcoming topline results from our Phase 3 PROTECT Study of
sparsentan in IgA nephropathy, which if successful, would
contribute to the growing body of evidence for sparsentan in rare
kidney disorders, and potentially support submissions for
accelerated approval in the U.S. and conditional marketing
authorization in Europe.”
Quarter Ended June 30, 2021
Net product sales for the second quarter of 2021
were $54.6 million, compared to $48.4 million for the same period
in 2020. For the six months ended June 30, 2021, net product sales
were $102.0 million, compared to $96.2 million for the same period
in 2020. The increase in net product sales was attributable to
growth across the Company’s commercial products.
Research and development (R&D) expenses for
the second quarter of 2021 were $51.8 million, compared to $30.8
million for the same period in 2020. For the six months ended June
30, 2021, R&D expenses were $99.8 million, compared to $61.0
million for the same period in 2020. The difference is largely
attributable to the fully enrolled, ongoing pivotal DUPLEX and
PROTECT studies of sparsentan, as well the continued development of
the pegtibatinase program in classical homocystinuria (HCU). On a
non-GAAP adjusted basis, R&D expenses were $48.7 million for
the second quarter of 2021, compared to $28.2 million for the same
period in 2020.
Selling, general and administrative (SG&A)
expenses for the second quarter of 2021 were $35.0 million,
compared to $35.0 million for the same period in 2020. For the six
months ended June 30, 2021, SG&A expenses were $71.7 million,
compared to $68.1 million for the same period in 2020. The
difference is largely attributable to increased headcount as a
result of the Company’s operational growth, and professional fees.
On a non-GAAP adjusted basis, SG&A expenses were $24.0 million
for the second quarter of 2021, compared to $25.8 million for the
same period in 2020.
Total other expense, net, for the second quarter
of 2021 was $3.6 million, compared to $2.9 million for the same
period in 2020. The difference is largely attributable to a
reduction in interest income.
Net loss for the second quarter of 2021 was
$39.0 million, or $0.64 per basic share, compared to a net loss of
$26.1 million, or $0.58 per basic share for the same period in
2020. For the six months ended June 30, 2021, net loss was $92.9
million, compared to $25.3 million for the same period in 2020. On
a non-GAAP adjusted basis, net loss for the second quarter of 2021
was $23.3 million, or $0.39 per basic share, compared to a net loss
of $9.9 million, or $0.22 per basic share for the same period in
2020.
As of June 30, 2021, the Company had cash, cash
equivalents and marketable securities of $522.8 million.
Program Updates
Sparsentan - FSGS
- In February 2021, the Company announced that the ongoing
pivotal Phase 3 DUPLEX Study of sparsentan in FSGS achieved its
pre-specified interim FSGS partial remission of proteinuria
endpoint (FPRE) with statistical significance. FPRE is a clinically
meaningful endpoint defined as urine protein-to-creatinine ratio
(UP/C) ≤1.5 g/g and a >40 percent reduction in UP/C from
baseline. After 36 weeks of treatment, 42.0 percent of patients
receiving sparsentan achieved FPRE, compared to 26.0 percent of
irbesartan-treated patients (p=0.0094). Preliminary results from
the interim analysis suggest that at the time of the interim
assessment, sparsentan had been generally well-tolerated and shown
a comparable safety profile to irbesartan. The DUPLEX Study is
fully enrolled and is scheduled to continue as planned on a blinded
basis to assess the confirmatory estimated glomerular filtration
rate (eGFR) endpoint after 108 weeks of treatment. Topline results
from the confirmatory endpoint are expected in the first half of
2023.
- During the Company’s pre-NDA meeting with the U.S. Food and
Drug Administration (FDA) in the second quarter of 2021, the FDA
indicated that it may be possible to submit an accelerated approval
application for sparsentan in FSGS after additional data accrue in
the ongoing DUPLEX Study. The Company has scheduled a Type A
meeting during the third quarter of 2021 to discuss the potential
to provide additional eGFR data from the DUPLEX Study in the first
half of 2022, in an effort to enable an accelerated approval
submission next year.
- During the second quarter of 2021, the Company conducted
Marketing Authorization Application (MAA) pre-submission
interactions with assigned rapporteurs and co-rapporteurs from the
EMA. Following these interactions, the Company is planning to
submit a CMA application for sparsentan for the treatment of FSGS
in Europe before year-end 2021.
Sparsentan - IgAN
- During the second quarter of 2021, the pivotal Phase 3 PROTECT
Study of sparsentan in IgAN completed patient enrollment. The
PROTECT Study is a global, randomized, multicenter, double-blind,
parallel-arm, active-controlled clinical trial evaluating the
safety and efficacy of sparsentan in approximately 380 patients
with IgAN. The PROTECT Study protocol provides for an unblinded
interim analysis of at least 280 patients to be performed after 36
weeks of treatment to evaluate the primary efficacy endpoint – the
change in proteinuria (urine protein-to-creatinine ratio) at Week
36 from baseline. The interim assessment of the PROTECT Study is
designed to support potential submissions under the Subpart H
pathway for accelerated approval in the United States, and
potential Conditional Marketing Authorization in Europe. Secondary
efficacy endpoints include the rate of change in eGFR following the
initiation of randomized treatment over 58-week and 110-week
periods, as well as the rate of change in eGFR over 52-week and
104-week periods following the first six weeks of randomized
treatment in approximately 380 patients. Topline efficacy data from
the 36-week interim proteinuria endpoint analysis are anticipated
in August 2021.
Pegtibatinase (TVT-058)
- During the second quarter of 2021, the Company completed
enrollment in the highest currently planned dosing cohort in the
ongoing Phase 1/2 dose escalation study to assess the safety,
tolerability, pharmacokinetics, pharmacodynamics and clinical
effects of pegtibatinase in patients with classical HCU. The
Company anticipates preliminary data from the Phase 1/2 study to
become available in 2021 and is monitoring the potential impact of
the evolving COVID-19 pandemic on this timing. If ultimately
approved, pegtibatinase has the potential to become the first
disease modifying therapy for people living with classical
HCU.
Conference Call Information
Travere Therapeutics will host a conference call
and webcast today, Thursday, July 29, 2021 at 4:30 p.m. ET to
discuss company updates as well as second quarter 2021 financial
results. To participate in the conference call, dial +1 (855)
219-9219 (U.S.) or +1 (315) 625-6891 (International), confirmation
code 9790904 shortly before 4:30 p.m. ET. The webcast can be
accessed at travere.com, in the Events and Presentations section of
the Investors & Media page, and will be archived for at least
30 days. A replay of the call will be available from 7:30 p.m. ET,
July 29, 2021 to 7:30 p.m. ET, August 5, 2021. The replay number is
+1 (855) 859-2056 (U.S.) or +1 (404) 537-3406 (International),
confirmation code 9790904.
Use of Non-GAAP Financial Measures
To supplement Travere’s financial results and
guidance presented in accordance with U.S. generally accepted
accounting principles (GAAP), the Company uses certain non-GAAP
adjusted financial measures in this press release and the
accompanying tables. The Company believes that these non-GAAP
financial measures are helpful in understanding its past financial
performance and potential future results. They are not meant to be
considered in isolation or as a substitute for comparable GAAP
measures and should be read in conjunction with the consolidated
financial statements prepared in accordance with GAAP. Travere’s
management regularly uses these supplemental non-GAAP financial
measures internally to understand, manage and evaluate its business
and make operating decisions. In addition, Travere believes that
the use of these non-GAAP measures enhances the ability of
investors to compare its results from period to period and allows
for greater transparency with respect to key financial metrics the
Company uses in making operating decisions.
Investors should note that these non-GAAP
financial measures are not prepared under any comprehensive set of
accounting rules or principles and do not reflect all of the
amounts associated with the Company’s results of operations as
determined in accordance with GAAP. Investors should also note that
these non-GAAP financial measures have no standardized meaning
prescribed by GAAP and, therefore, have limits in their usefulness
to investors. In addition, from time to time in the future the
Company may exclude other items, or cease to exclude items that it
has historically excluded, for purposes of its non-GAAP financial
measures; because of the non-standardized definitions, the non-GAAP
financial measures as used by the Company in this press release and
the accompanying tables may be calculated differently from, and
therefore may not be directly comparable to, similarly titled
measures used by the Company’s competitors and other companies.
As used in this press release, (i) the
historical non-GAAP net income (loss) measures exclude from GAAP
net income (loss), as applicable, stock-based compensation expense,
amortization and depreciation expense, revaluation of acquisition
related contingent consideration and income tax; (ii) the
historical non-GAAP SG&A expense measures exclude from GAAP
SG&A expenses, as applicable, stock-based compensation expense,
and amortization and depreciation expense; (iii) the historical
non-GAAP R&D expense measures exclude from GAAP R&D
expenses, as applicable, stock-based compensation expense, and
depreciation and amortization expense.
About Travere Therapeutics
At Travere Therapeutics we are in rare for life.
We are a biopharmaceutical company that comes together every day to
help patients, families and caregivers of all backgrounds as they
navigate life with a rare disease. On this path, we know the need
for treatment options is urgent – that is why our global team works
with the rare disease community to identify, develop and deliver
life-changing therapies. In pursuit of this mission, we
continuously seek to understand the diverse perspectives of rare
patients and to courageously forge new paths to make a difference
in their lives and provide hope – today and tomorrow. For more
information, visit travere.com
Forward-Looking Statements
This press release contains "forward-looking
statements" as that term is defined in the Private Securities
Litigation Reform Act of 1995. Without limiting the foregoing,
these statements are often identified by the words "may", "might",
"believes", "thinks", "anticipates", "plans", "expects", "intends"
or similar expressions. In addition, expressions of our strategies,
intentions or plans are also forward-looking statements. Such
forward-looking statements include, but are not limited to,
references to: the Company’s current plan regarding, and
expectations around the timeline for, submitting an application for
conditional marketing authorization (CMA) of sparsentan for FSGS in
Europe; expectations around the planned Type A meeting with
the FDA and the potential to stay on an accelerated approval
pathway for FSGS in the U.S. and submit an application for
accelerated approval in 2022; the Company’s current expectations
around timelines for top-line data from the proteinuria endpoint in
the PROTECT study and the confirmatory endpoint in the DUPLEX
Study; references to the potential outcome of the PROTECT study,
including the potential for the results to support an accelerated
approval submission in IgAN; references to the Company’s goal of
delivering sparsentan as a potential new treatment standard for
people living with FSGS and IgAN; the Company’s current
expectations around timelines for preliminary data from the ongoing
Phase 1/2 study of pegtibatinase in HCU; and references to the
potential for pegtibatinase, if approved, to become the first
disease modifying therapy for people living with classical HCU.
Such forward-looking statements are based on current expectations
and involve inherent risks and uncertainties, including factors
that could delay, divert or change any of them, and could cause
actual outcomes and results to differ materially from current
expectations. No forward-looking statement can be guaranteed. Among
the factors that could cause actual results to differ materially
from those indicated in the forward-looking statements are risks
and uncertainties associated with the regulatory review and
approval process, including the Subpart H accelerated approval
pathway in the United States and the conditional marketing
authorization (CMA) pathway in the Europe Union, including the risk
that the FDA or EMA could disagree with the Company’s submission of
an NDA under Subpart H for accelerated approval, or a Marketing
Approval Application (“MAA”) under the CMA pathway, as well as
risks and uncertainties associated with the Company’s business and
finances in general, success of its commercial products as well as
risks and uncertainties associated with the Company's preclinical
and clinical stage pipeline. Specifically, the Company faces risks
associated with market acceptance of its commercial products
including efficacy, safety, price, reimbursement and benefit over
competing therapies. The risks and uncertainties the Company faces
with respect to its preclinical and clinical stage pipeline include
risk that the Company's clinical candidates will not be found to be
safe or effective and that current clinical trials will not proceed
as planned. Specifically, the Company faces the risk that the Phase
3 DUPLEX Study of sparsentan in FSGS will not demonstrate that
sparsentan is safe or effective or serve as a basis for accelerated
approval of sparsentan as planned; risk that the Phase 3 PROTECT
Study of sparsentan in IgAN will not demonstrate that sparsentan is
safe or effective or serve as the basis for accelerated approval of
sparsentan as planned; and risk that sparsentan will not be
approved for efficacy, safety, regulatory or other reasons, and for
each of the Company’s programs, risk associated with enrollment of
clinical trials for rare diseases and risk that ongoing or planned
clinical trials may not succeed or may be delayed for safety,
regulatory or other reasons. There is no guarantee that the FDA and
the Company will be able to align on a pathway for a potential
accelerated approval submission for sparsentan in FSGS; that the
FDA will grant accelerated approval of sparsentan for FSGS or that
sparsentan will be approved at all. There is also no guarantee that
the results from the PROTECT Study in IgAN will be positive, or
even if positive, will support an accelerated approval submission
in the U.S. or a submission under the CMA pathway in Europe or that
the results from the ongoing clinical study of pegtibatinase will
be positive. The Company faces risk that it will be unable to
raise additional funding that may be required to complete
development of any or all of its product candidates; risk relating
to the Company's dependence on contractors for clinical drug supply
and commercial manufacturing; uncertainties relating to patent
protection and exclusivity periods and intellectual property rights
of third parties; risks associated with regulatory interactions;
risks and uncertainties relating to competitive products, including
potential generic competition with certain of the Company’s
products, and technological changes that may limit demand for the
Company's products. The Company faces additional risks associated
with the potential impacts the COVID-19 pandemic may have on its
business, including, but not limited to (i) the Company’s ability
to continue its ongoing development activities and clinical trials,
(ii) the timing of such clinical trials and the release of data
from those trials, (iii) the Company’s and its suppliers’ ability
to successfully manufacture its commercial products and product
candidates, and (iv) the market for and sales of its commercial
products. You are cautioned not to place undue reliance on these
forward-looking statements as there are important factors that
could cause actual results to differ materially from those in
forward-looking statements, many of which are beyond our control.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise. Investors are referred to the full
discussion of risks and uncertainties as included in the Company's
most recent Form 10-K, Form 10-Q and other filings with the
Securities and Exchange Commission.
|
TRAVERE THERAPEUTICS, INC. |
CONSOLIDATED BALANCE SHEETS |
(in thousands, except share amounts) |
|
|
|
|
|
June 30, 2021 |
|
December 31, 2020 |
Assets |
(unaudited) |
|
|
Current
assets: |
|
|
|
Cash and cash equivalents |
$ |
83,288 |
|
|
$ |
84,772 |
|
Available-for-sale debt securities, at fair value (amortized
cost $439,411, allowance for credit losses of $0 as of June 30,
2021; amortized cost $276,111, allowance for credit losses of $0 as
of December 31, 2020) |
439,502 |
|
|
276,817 |
|
Accounts receivable, net |
11,860 |
|
|
15,925 |
|
Inventory, net |
7,409 |
|
|
7,608 |
|
Prepaid expenses and other current assets |
7,339 |
|
|
8,143 |
|
Tax receivable |
400 |
|
|
17,142 |
|
Total current
assets |
549,798 |
|
|
410,407 |
|
|
|
|
|
Property and equipment,
net |
11,720 |
|
|
9,418 |
|
Other non-current assets |
34,361 |
|
|
33,489 |
|
Intangible assets, net |
149,951 |
|
|
153,189 |
|
Goodwill |
936 |
|
|
936 |
|
Total
assets |
$ |
746,766 |
|
|
$ |
607,439 |
|
|
|
|
|
Liabilities and
Stockholders' Equity |
|
|
|
Current
liabilities: |
|
|
|
Accounts payable |
$ |
8,343 |
|
|
$ |
12,133 |
|
Accrued expenses |
62,465 |
|
|
56,793 |
|
Other current liabilities |
8,869 |
|
|
6,334 |
|
Business combination-related contingent consideration, current
portion |
17,300 |
|
|
17,400 |
|
Total current
liabilities |
96,977 |
|
|
92,660 |
|
Convertible debt |
220,861 |
|
|
215,339 |
|
Other non-current
liabilities |
43,725 |
|
|
40,527 |
|
Business combination-related
contingent consideration, less current portion |
52,900 |
|
|
47,700 |
|
Total
liabilities |
414,463 |
|
|
396,226 |
|
|
|
|
|
Stockholders'
Equity: |
|
|
|
Preferred stock $0.0001 par value; 20,000,000 shares authorized; 0
issued and outstanding as of June 30, 2021 and December 31,
2020 |
— |
|
|
— |
|
Common stock $0.0001 par value; 200,000,000 shares authorized;
60,710,876 and 52,248,431 issued and outstanding as of June 30,
2021 and December 31, 2020, respectively |
6 |
|
|
5 |
|
Additional paid-in capital |
1,011,692 |
|
|
797,985 |
|
Accumulated deficit |
(678,754 |
) |
|
(585,875 |
) |
Accumulated other comprehensive loss |
(641 |
) |
|
(902 |
) |
Total stockholders'
equity |
332,303 |
|
|
211,213 |
|
Total liabilities and
stockholders' equity |
$ |
746,766 |
|
|
$ |
607,439 |
|
|
|
|
|
|
|
|
|
Note: Certain adjustments /
reclassifications have been made to prior periods to conform to
current year presentation.
|
TRAVERE THERAPEUTICS, INC. |
CONSOLIDATED STATEMENTS OF OPERATIONS |
(in thousands, except share and per share
data) |
(unaudited) |
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
(unaudited) |
|
|
|
|
Net product sales: |
|
|
|
|
|
|
|
Thiola/Thiola EC |
$ |
29,643 |
|
|
$ |
26,857 |
|
|
$ |
55,086 |
|
|
$ |
52,345 |
|
Bile acid products |
24,974 |
|
|
21,573 |
|
|
46,938 |
|
|
43,854 |
|
Total net product sales |
54,617 |
|
|
48,430 |
|
|
102,024 |
|
|
96,199 |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
Cost of goods sold |
1,651 |
|
|
1,494 |
|
|
3,296 |
|
|
2,864 |
|
Research and development |
51,807 |
|
|
30,790 |
|
|
99,753 |
|
|
61,038 |
|
Selling, general and administrative |
34,965 |
|
|
34,971 |
|
|
71,743 |
|
|
68,110 |
|
Change in fair value of contingent consideration |
1,509 |
|
|
4,286 |
|
|
10,096 |
|
|
2,363 |
|
Total operating expenses |
89,932 |
|
|
71,541 |
|
|
184,888 |
|
|
134,375 |
|
|
|
|
|
|
|
|
|
Operating loss |
(35,315 |
) |
|
(23,111 |
) |
|
(82,864 |
) |
|
(38,176 |
) |
|
|
|
|
|
|
|
|
Other income (expenses),
net: |
|
|
|
|
|
|
|
Other income (expense), net |
216 |
|
|
426 |
|
|
(877 |
) |
|
235 |
|
Interest income |
988 |
|
|
1,316 |
|
|
1,397 |
|
|
3,291 |
|
Interest expense |
(4,852 |
) |
|
(4,634 |
) |
|
(10,173 |
) |
|
(9,521 |
) |
Total other expense, net |
(3,648 |
) |
|
(2,892 |
) |
|
(9,653 |
) |
|
(5,995 |
) |
|
|
|
|
|
|
|
|
Loss before income taxes |
(38,963 |
) |
|
(26,003 |
) |
|
(92,517 |
) |
|
(44,171 |
) |
|
|
|
|
|
|
|
|
Income tax (expense)
benefit |
(49 |
) |
|
(65 |
) |
|
(362 |
) |
|
18,911 |
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(39,012 |
) |
|
$ |
(26,068 |
) |
|
$ |
(92,879 |
) |
|
$ |
(25,260 |
) |
|
|
|
|
|
|
|
|
Per share
data: |
|
|
|
|
|
|
|
Basic and diluted net loss per common share |
$ |
(0.64 |
) |
|
$ |
(0.58 |
) |
|
$ |
(1.59 |
) |
|
$ |
(0.57 |
) |
Basic and diluted weighted average common shares outstanding |
60,571,259 |
|
|
44,763,843 |
|
|
58,431,770 |
|
|
43,943,370 |
|
Weighted average common shares outstanding, diluted |
60,571,259 |
|
|
44,763,843 |
|
|
58,431,770 |
|
|
43,943,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Certain adjustments /
reclassifications have been made to prior periods to conform to
current year presentation.
|
TRAVERE THERAPEUTICS, INC. |
RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED
INFORMATION |
(in thousands, except share and per share
data) |
(unaudited) |
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
GAAP operating loss |
$ |
(35,315 |
) |
|
$ |
(23,111 |
) |
|
$ |
(82,864 |
) |
|
$ |
(38,176 |
) |
|
|
|
|
|
|
|
|
R&D operating expense |
(51,807 |
) |
|
(30,790 |
) |
|
(99,753 |
) |
|
(61,038 |
) |
|
|
|
|
|
|
|
|
Stock compensation |
2,845 |
|
|
2,332 |
|
|
5,847 |
|
|
4,458 |
|
Amortization &
depreciation |
288 |
|
|
289 |
|
|
574 |
|
|
578 |
|
Subtotal non-GAAP items |
3,133 |
|
|
2,621 |
|
|
6,421 |
|
|
5,036 |
|
Non-GAAP R&D expense |
(48,674 |
) |
|
(28,169 |
) |
|
(93,332 |
) |
|
(56,002 |
) |
|
|
|
|
|
|
|
|
SG&A operating
expense |
(34,965 |
) |
|
(34,971 |
) |
|
(71,743 |
) |
|
(68,110 |
) |
|
|
|
|
|
|
|
|
Stock compensation |
4,665 |
|
|
3,622 |
|
|
9,357 |
|
|
7,406 |
|
Amortization &
depreciation |
6,330 |
|
|
5,542 |
|
|
12,119 |
|
|
10,908 |
|
Subtotal non-GAAP items |
10,995 |
|
|
9,164 |
|
|
21,476 |
|
|
18,314 |
|
Non-GAAP SG&A expense |
(23,970 |
) |
|
(25,807 |
) |
|
(50,267 |
) |
|
(49,796 |
) |
|
|
|
|
|
|
|
|
Change in fair value of
contingent consideration |
1,509 |
|
|
4,286 |
|
|
10,096 |
|
|
2,363 |
|
Subtotal non-GAAP items |
15,637 |
|
|
16,071 |
|
|
37,993 |
|
|
25,713 |
|
Non-GAAP operating
loss |
$ |
(19,678 |
) |
|
$ |
(7,040 |
) |
|
$ |
(44,871 |
) |
|
$ |
(12,463 |
) |
|
|
|
|
|
|
|
|
GAAP net income
(loss) |
$ |
(39,012 |
) |
|
$ |
(26,068 |
) |
|
$ |
(92,879 |
) |
|
$ |
(25,260 |
) |
Non-GAAP operating loss adjustments |
15,637 |
|
|
16,071 |
|
|
37,993 |
|
|
25,713 |
|
Income tax provision (benefit) |
49 |
|
|
65 |
|
|
362 |
|
|
(18,911 |
) |
Non-GAAP net
loss |
$ |
(23,326 |
) |
|
$ |
(9,932 |
) |
|
$ |
(54,524 |
) |
|
$ |
(18,458 |
) |
|
|
|
|
|
|
|
|
Per share
data: |
|
|
|
|
|
|
|
Basic and diluted net loss per
common share |
$ |
(0.39 |
) |
|
$ |
(0.22 |
) |
|
$ |
(0.93 |
) |
|
$ |
(0.42 |
) |
Basic and diluted weighted average common shares
outstanding |
60,571,259 |
|
|
44,763,843 |
|
|
58,431,770 |
|
|
43,943,370 |
|
|
|
|
|
|
|
|
|
Note: Certain adjustments /
reclassifications have been made to prior periods to conform to
current year presentation.
Contact:Chris Cline,
CFA
Senior
Vice President, Investor Relations & Corporate
Communications888-969-7879
IR@travere.com
Travere Therapeutics (NASDAQ:TVTX)
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