Travere Therapeutics, Inc. TVTX
We are a biopharmaceutical company headquartered in San Diego, California, focused on identifying, developing and delivering life-changing therapies to people living with rare kidney and metabolic diseases. Our approach centers on advancing our innovative pipeline with multiple late-stage clinical programs targeting rare diseases with significant unmet medical needs.
In September 2024, the U.S. Food and Drug Administration ("FDA") granted full approval to our lead development program, FILSPARI (sparsentan), which is indicated to slow kidney function decline in adults with primary Immunoglobulin A nephropathy ("IgAN") who are at risk of disease progression. IgAN is a rare progressive kidney disease and the most common type of primary glomerulonephritis worldwide. FILSPARI had previously been granted accelerated approval for IgAN in February 2023 based on the surrogate marker of proteinuria. Full approval was based on positive long-term confirmatory results from the PROTECT Study demonstrating that FILSPARI significantly slowed kidney function decline over two years compared to irbesartan.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $490.7M | $233.2M | $145.2M | $109.5M | $131.8M | $198.3M | $175.3M | $164.2M | $154.9M | $133.6M |
| Cost of revenue | $10.3M | $7.7M | $11.4M | $4.4M | $3.8M | $6.1M | $5.2M | $5.5M | $3.6M | $4.6M |
| Gross profit | $480.4M | $225.4M | $133.8M | $105.0M | $128.0M | $192.2M | $170.1M | $158.7M | $151.3M | $129.0M |
| R&D | — | — | — | $7.5M | — | — | $141.0M | $123.8M | $78.2M | $70.8M |
| SG&A | $337.2M | $264.1M | $265.5M | $197.5M | $126.3M | $135.8M | $129.0M | $103.7M | $101.3M | $91.9M |
| Total operating expenses | $553.6M | $557.0M | $533.4M | $429.3M | $331.3M | $374.5M | $312.7M | $244.3M | $208.7M | $191.8M |
| Operating income | -$62.8M | -$323.8M | -$388.1M | -$319.8M | -$199.4M | -$176.2M | -$137.4M | -$80.0M | -$53.8M | -$58.2M |
| Interest expense | $10.7M | $11.2M | $11.3M | $11.0M | $19.7M | $19.1M | $18.8M | $9.8M | $4.4M | $4.7M |
| Pre-tax income | -$49.3M | -$320.5M | -$376.1M | -$331.2M | -$216.9M | -$188.8M | -$146.4M | -$101.9M | -$58.4M | -$57.6M |
| Income tax | $988.0K | $120.0K | $223.0K | $313.0K | $409.0K | $19.4M | $21.0K | $811.0K | $1.4M | $9.7M |
| Net income | -$25.5M | -$321.5M | -$111.4M | -$278.5M | -$180.1M | -$169.4M | -$146.4M | -$102.7M | -$59.7M | -$47.9M |
| EPS, basic | -0.29 | -4.08 | -1.50 | -4.37 | -3.01 | -3.56 | -3.46 | -2.54 | -1.54 | -1.29 |
| EPS, diluted | -0.29 | -4.08 | -1.50 | -4.37 | -3.01 | -3.56 | -3.46 | -2.54 | -1.54 | -1.29 |
| Shares, diluted (wtd. avg.) | 89.2M | 78.9M | 74.3M | 63.8M | 59.8M | 47.5M | 42.3M | 40.4M | 38.8M | 38.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $93.0M | $58.5M | $58.2M | $61.7M | $165.8M | $84.8M | $62.4M | $102.9M | $99.4M | $41.0M |
| Short-term investments | $145.4M | — | $248.6M | $285.5M | $262.2M | $271.8M | $209.5M | $208.5M | $123.3M | — |
| Receivables | $80.1M | $27.1M | $21.2M | $16.6M | $15.9M | $15.9M | $18.0M | $12.7M | $13.9M | $18.5M |
| Inventory | $36.2M | $41.9M | $9.4M | $4.5M | $7.3M | $7.6M | $6.1M | $5.6M | $5.4M | $2.8M |
| Total current assets | $437.6M | $416.7M | $616.8M | $486.4M | $582.8M | $410.4M | $429.1M | $495.7M | $325.8M | $332.4M |
| Property, plant and equipment | $4.0M | $5.3M | $7.5M | $9.0M | $11.1M | $9.4M | $2.9M | $3.1M | $3.2M | $2.6M |
| Goodwill | — | $800.0K | $800.0K | $800.0K | $900.0K | $900.0K | $936.0K | $936.0K | $936.0K | $936.0K |
| Other intangibles | $113.9M | $104.0M | $104.4M | $97.1M | $148.4M | $154.1M | $157.2M | $186.7M | $184.8M | $182.0M |
| Total assets | $605.2M | $594.1M | $788.9M | $672.6M | $776.6M | $607.4M | $604.8M | $709.2M | $520.3M | $525.3M |
| Accounts payable | $24.8M | $23.5M | $41.7M | $17.3M | $15.1M | $12.1M | $26.6M | $7.0M | $18.9M | $7.5M |
| Total current liabilities | $159.9M | $200.8M | $177.9M | $142.2M | $124.1M | $92.7M | $95.4M | $104.6M | $85.7M | $83.3M |
| Total liabilities | $490.4M | $535.0M | $588.1M | $629.7M | $474.5M | $396.2M | $383.6M | $390.9M | $227.2M | $217.5M |
| Retained earnings | -$1.47B | -$1.45B | -$1.13B | -$1.01B | -$766.0M | -$585.9M | -$416.4M | -$270.0M | -$177.7M | -$113.1M |
| Total equity | $114.8M | $59.1M | $200.8M | $42.9M | $302.1M | $211.2M | $221.2M | $318.3M | $293.1M | $307.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $37.8M | -$237.5M | -$280.0M | -$186.3M | -$14.8M | -$42.7M | -$58.2M | -$25.0M | $7.4M | -$3.4M |
| Depreciation and amortisation | $60.7M | $43.6M | $38.5M | $20.7M | $12.7M | $24.6M | $20.4M | $18.7M | $17.8M | $16.1M |
| Stock-based compensation | $44.9M | $36.9M | $44.2M | $38.1M | $29.6M | $23.6M | $21.1M | $19.8M | $26.9M | $29.1M |
| Capital expenditure | — | — | $668.0K | $191.0K | $5.1M | $6.8M | $195.0K | $727.0K | $887.0K | $1.4M |
| Investing cash flow | $27.9M | $99.3M | $55.8M | -$32.6M | -$137.6M | -$61.3M | $19.9M | -$203.3M | $45.6M | $10.4M |
| Financing cash flow | -$33.5M | $139.4M | $218.8M | $117.6M | $231.7M | $127.7M | -$2.1M | $231.9M | $5.4M | -$3.8M |
| Buybacks | — | — | — | — | — | — | — | — | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001438533-26-000027.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $133.6M | $154.9M | $164.2M | $175.3M | $198.3M | $131.8M | $109.5M | $145.2M | $233.2M | $490.7M |
| Gross profit | $129.0M | $151.3M | $158.7M | $170.1M | $192.2M | $128.0M | $105.0M | $133.8M | $225.4M | $480.4M |
| Net income | -$47.9M | -$59.7M | -$102.7M | -$146.4M | -$169.4M | -$180.1M | -$278.5M | -$111.4M | -$321.5M | -$25.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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