Why Is Kidney-Disease Focused Travere Therapeutics Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Travere Therapeutics announced two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study of Filspari in IgA nephropathy versus Sanofi's Avapro. Filspari demonstrated long-term kidney function preservation and achieved a clinically meaningful difference in eGFR total and chronic slope versus irbesartan. The company plans to submit a supplemental New Drug Application in 1H 2024 for full approval in the U.S. TVTX shares are down 44.90% at $7.11.
September 21, 2023 | 1:42 pm
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NEUTRAL IMPACT
Sanofi's Avapro was used as a comparison in Travere Therapeutics' Phase 3 study of Filspari.
Sanofi's Avapro was used as a comparison in Travere Therapeutics' Phase 3 study of Filspari. This news does not directly impact Sanofi's stock as it is merely a comparison and does not reflect on the performance or sales of Avapro.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Travere Therapeutics' stock is trading lower despite positive results from its Phase 3 study of Filspari. The company plans to submit a supplemental New Drug Application in 1H 2024 for full approval in the U.S.
Despite the positive results from the Phase 3 study of Filspari, Travere Therapeutics' stock is trading lower. This could be due to the fact that full approval in the U.S. is not expected until 1H 2024, which may be causing uncertainty among investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100