Travere Therapeutics shares are trading higher after the company issued preliminary Q4 and FY23 net product sales from continuing operations guidance. Also, the company said its cash, cash equivalents and marketable securities are expected to support operations into 2028.
Portfolio Pulse from Benzinga Newsdesk
Travere Therapeutics' stock is trading higher following their preliminary Q4 and FY23 net product sales guidance from continuing operations. The company also announced that its cash reserves and marketable securities are projected to fund operations until 2028.
January 08, 2024 | 5:59 pm
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POSITIVE IMPACT
Travere Therapeutics' shares are up after the company released positive preliminary Q4 and FY23 net product sales guidance and announced a strong cash position expected to last until 2028.
The positive guidance for Q4 and FY23 net product sales indicates that the company is performing well financially, which is typically a bullish signal for investors. Additionally, the assurance of sufficient cash to support operations into 2028 reduces the risk of near-term liquidity issues, further bolstering investor confidence in the company's stability and long-term prospects.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100