Home Market News Small Caps Why Is Kidney-Disease Focused Travere Therapeutics Stock Trading Lower Today?

Why Is Kidney-Disease Focused Travere Therapeutics Stock Trading Lower Today?

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Why Is Kidney-Disease Focused Travere Therapeutics Stock Trading Lower Today?

Travere Therapeutics Inc (NASDAQ: TVTX) recently released topline results from its Phase 3 PROTECT Study, comparing its drug Filspari to Sanofi SA’s Avapro in patients with IgA nephropathy (IgAN). While Filspari showed promising results in preserving kidney function and achieving a clinically meaningful difference in estimated glomerular filtration rate (eGFR) compared to Avapro, it narrowly missed statistical significance in some endpoints.

Filspari, which is currently available under accelerated approval in the U.S., will be further evaluated for full approval with a supplemental New Drug Application expected to be submitted in the first half of 2024. The safety profile of Filspari was generally well-tolerated during the study.

In addition, the European Medicines Agency has accepted the Conditional Marketing Authorization application for sparsentan, the active ingredient in Filspari, for the treatment of IgAN. Travere Therapeutics, along with its partner CSL Vifor, anticipates a review opinion on the application in the EU by the end of the year.

Despite these developments, the stock price of Travere Therapeutics has dropped significantly, currently trading at $7.11, down 44.90%.