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 seen a notable rebound in its stock market performance, starting the day at $10.80 and rising to $11.26, which marks a substantial increase of approximately 13.43% from the previous close of $9.93. This bullish trend has been accompanied by a significant trading volume of 4.12 million shares, indicating strong investor interest following the full FDA approval of FILSPARI® (sparsentan). The stock’s ability to break through the $10.80 resistance level suggests potential for continued upward momentum, although market volatility in the biotech sector typically requires cautious analysis of technical indicators for strategic trading.

The excitement surrounding Travere is bolstered by Ligand Pharmaceuticals Incorporated’s announcement regarding the FDA granting full approval for FILSPARI, an innovative treatment aimed at slowing kidney function decline in adults with primary IgA Nephropathy (IgAN). FILSPARI’s approval follows an earlier accelerated approval in February 2023, which was based on encouraging results pertaining to proteinuria levels. This recent approval is rooted in comprehensive long-term findings from the PROTECT Study, which demonstrated that FILSPARI significantly postpones the deterioration of kidney function over a two-year span compared to irbesartan, the control treatment utilized in the study.

Todd Davis, CEO of Ligand, emphasized the importance of this milestone for patients with this rare kidney disease and expressed confidence in Travere’s plans to facilitate the medication’s market penetration in the United States and its anticipated launch in Europe shortly thereafter. As the first oral, once-daily, and non-immunosuppressive therapy specifically targeting glomerular injury, FILSPARI represents a pivotal advancement in IgAN treatment, aligning with Ligand’s commitment to enhancing therapeutic alternatives and improving patient outcomes for those grappling with kidney diseases.

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