Travere Therapeutics (TVTX) 12th Annual Cantor Fitzgerald Global Healthcare Conference summary

Strategic priorities and product focus

• Four key areas drive near- and long-term growth: maximizing FILSPARI in IgA nephropathy and FSGS, and advancing pegtibatinase and civorebrutinib in the pipeline.

• FILSPARI is foundational in IgA nephropathy and recently launched for FSGS, with strong initial uptake and a broad label covering primary, secondary, genetic, and pediatric FSGS.

• Pegtibatinase targets classical homocystinuria, with phase III top-line results expected in the second half of next year.

• Civorebrutinib, a BTK inhibitor, is being prepared for clinical studies in PMN, FSGS, and MCD, with plans to expand indications.

• Ongoing investments in manufacturing, patient finding, and commercial infrastructure support future launches.

FILSPARI performance and market dynamics

• FILSPARI's FSGS launch exceeded expectations, with 70% of prescribers having prior IgA experience and 30% new to the brand.

• Early signs of a reverse halo effect show FSGS approval is boosting IgA nephropathy uptake.

• Conversion rates for FSGS are outpacing initial IgA nephropathy rates due to established payer coverage and brand familiarity.

• Most initial FSGS demand is from patients with higher proteinuria, likely primary FSGS, but use spans all subtypes.

• Seasonality impacts Q3 uptake, but overall market fundamentals remain strong.

Market opportunity and financial outlook

• FSGS addressable population is over 30,000, with an additional 10,000 for secondary FSGS.

• FILSPARI gross-to-net is guided in the mid-20% range, with FSGS expected to have more CMS exposure than IgA.

• IgA nephropathy market is growing, with FILSPARI positioned as a nephroprotective therapy per updated KDIGO guidelines.

• FILSPARI is preferred over VANRAFIA due to dual mechanism, single-pill regimen, and superior efficacy.

• 70,000 IgA nephropathy patients are addressable, with significant opportunity remaining as many are still on generic RAAS inhibitors.