Travere Shares Rise 8.4%; Co. To Cut Staff, Focus on IgAN, HCU Treatments
04 Dicembre 2023 - 11:14PM
Dow Jones News
By Stephen Nakrosis
Shares of Travere Therapeutics were trading higher in Monday's
after-hours market, following new the company plans to reduce its
workforce by about 20% and focus near-term resources on its ongoing
Filspari launch in IgAN and the advancement of pegtibatinase in
classical HCU.
The move will extend the company's expected cash runway into
2028, it said.
Travere's stock rose 8.4% to $6.82 after hours. The stock closed
the day's regular session at $6.29, losing just over 2%, and was
down 70% this year through Monday's close.
Travere said it completed a successful pre-NDA meeting with the
U.S. food and Drug Administration for Filspari in IgAN, or
Immunoglobulin A Nephropathy, a kidney disease also known as
Berger's disease.
Travere also said it will focus on advancing pegtibatinase in
classical HCU, also known as homocystinuria due to CBS deficiency,
a disorder that can lead to the buildup of certain amino acids in
the blood.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 04, 2023 16:59 ET (21:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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