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Travere Therapeutics (TVTX) investor relations material
Travere Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
FILSPARI achieved full FDA approval for IgAN in September 2024, with Q3 2025 U.S. net sales of $90.9 million, up 155% year-over-year, and 731 new patient start forms.
Total Q3 2025 revenue reached $164.9 million, including a $40 million EU market access milestone and $9.3 million in non-cash license revenue.
FDA accepted sNDA for FILSPARI in FSGS, with a PDUFA date of January 13, 2026, and launch readiness plans in place.
Pegtibatinase advanced as a potential first disease-modifying therapy for HCU, with commercial-scale manufacturing completed and HARMONY Study enrollment to restart in 2026.
Recognized significant milestone and license revenues from CSL Vifor and Renalys partnerships, and announced Chugai's acquisition of Renalys.
Financial highlights
U.S. net product sales for Q3 2025 were $113.2 million, with FILSPARI contributing $90.9 million and Thiola/Thiola EC $22.3 million.
Total Q3 2025 revenue was $164.9 million, up from $62.9 million in Q3 2024.
Net income for Q3 2025 was $25.7 million ($0.29 per share), compared to a net loss of $54.8 million in Q3 2024; non-GAAP net income was $52.8 million ($0.59 per share).
Cash, cash equivalents, and marketable securities were $254.5 million as of September 30, 2025, not yet reflecting the $40 million milestone payment.
Convertible notes outstanding total $316.3 million, due March 2029, after repaying $68.9 million in 2025 notes.
Outlook and guidance
Positioned for continued growth in IgAN and a potential FILSPARI launch in FSGS if approved.
Management expects available cash and investments to fund operations beyond the next 12 months.
Pegtibatinase HARMONY Study enrollment expected to restart in 2026.
Incremental increases in SG&A expected as commercial footprint expands for FSGS launch; R&D investment to increase with pegtibatinase ramp-up.
Anticipates additional FILSPARI milestones and future payments from CSL Vifor and Renalys partnerships.
What does no FSGS AdCom mean for approval?
How do KDIGO guidelines impact FILSPARI uptake?
Update on pegtibatinase HARMONY study restart
FILSPARI: REMS/KDIGO impact on patient profile?
FSGS launch: Leveraging IgA prescriber base
Pegtibatinase: Manufacturing readiness for BLA?
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Next Travere Therapeutics earnings date
Q4 202519 Feb, 2026
Next Travere Therapeutics earnings date
Q4 202519 Feb, 2026
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Frequently asked questions
Travere Therapeutics Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases. The company’s research and commercial efforts target conditions related to nephrology, hepatology, and metabolic disorders. It serves patients through both approved treatments and investigational programs. The company is headquartered in San Diego, California, and its shares are listed on the NASDAQ.
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