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. has made significant strides in the financial market, with its stock experiencing a remarkable gain of approximately 13.43%. Opening at $10.80 and currently trading at $11.264, this upward trajectory follows a previous close of $9.93, showcasing strong momentum that has garnered heightened investor interest. Today’s trading volume reached 4.12 million shares, indicating potential volatility ahead. Investors are advised to keep an eye on resistance levels around $11.50 and support near $10.80, as these figures will be crucial for assessing future price movements and determining optimal entry or exit strategies.

In a commendable achievement, Ligand Pharmaceuticals Incorporated has announced that its partner, Travere Therapeutics, has received full approval from the U.S. Food and Drug Administration (FDA) for its groundbreaking treatment, FILSPARI® (sparsentan). This FDA sanction authorizes the medication to decelerate kidney function decline in adults suffering from primary IgA nephropathy (IgAN), a condition known for its progression risk. This decision follows the earlier accelerated approval granted in February 2023 and was backed by robust evidence from the PROTECT Study, which demonstrated a significant reduction in the deterioration of kidney function among patients over a two-year horizon.

The CEO of Ligand, Todd Davis, emphasized the transformative nature of this approval, highlighting the expected benefits for individuals battling this rare kidney disease. FILSPARI stands out as the first non-immunosuppressive oral treatment targeting glomerular injury, representing a considerable advancement in therapeutic options for IgAN. The positive data from the PROTECT Study further underscore FILSPARI’s favorable safety profile, positioning it for widespread adoption among healthcare providers. This accomplishment not only elevates Ligand’s commercial prospects but also underscores its ongoing commitment to innovation in biopharmaceuticals, aiming to enhance treatment outcomes for serious health conditions.

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