24/7 Market News Snapshot 06 September, 2024 – Travere Therapeutics, Inc. Common Stock (NASDAQ:TVTX)

September 6, 2024

DENVER, Colo., 06 September, 2024 (247marketnews.com) – (NASDAQ:TVTX) are discussed in this article.
Travere Therapeutics, Inc. (TVTX) has experienced a robust market performance, opening at $10.80 and currently trading at $10.94, representing a notable increase of 10.16% from the previous closing price of $9.93. This uplift is supported by a strong trading volume of 3.90 million shares, indicating heightened investor interest and optimistic market sentiment surrounding the company’s advancements. The upward trajectory of the stock may be attributed to the breaking of key resistance levels, suggesting potential for further gains. Investors are encouraged to closely monitor technical indicators such as moving averages and the relative strength index (RSI) to gauge future price movements and validate the prevailing bullish outlook.

Contributing to this positive momentum, Ligand Pharmaceuticals Incorporated has announced that its partner, Travere Therapeutics, has received full approval from the U.S. Food and Drug Administration (FDA) for FILSPARI® (sparsentan). This innovative treatment is aimed at slowing kidney function decline in adults with primary IgA nephropathy (IgAN) who are at risk of disease progression. The full approval of FILSPARI follows its initial accelerated approval granted in February 2023, backed by compelling long-term data from the PROTECT Study, which demonstrated that FILSPARI effectively slowed kidney function decline over a two-year span compared to irbesartan.

Todd Davis, CEO of Ligand, expressed enthusiasm for this milestone, highlighting its significant implications for patients suffering from IgAN. As Travere gears up for the product’s U.S. market launch and potential expansion into Europe, Ligand expects to enhance its royalty portfolio, benefiting from milestone payments and a 9% royalty on worldwide net sales of FILSPARI. Unique in its formulation, FILSPARI targets critical pathways linked to kidney disease progression, positioning it as a vital addition to nephrology treatment regimens and reflecting Ligand’s commitment to advancing patient-centered therapeutic solutions.

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