Travere Therapeutics (TVTX) Canaccord Genuity 44th Annual Growth Conference & Private Company Showcase 2024 summary

Company mission and therapeutic focus

• Focused on developing therapies for rare diseases, especially rare kidney and metabolic disorders.

• FILSPARI targets IgA nephropathy and FSGS, aiming to become standard of care.

• Pegtibatinase is in development for classical homocystinuria, addressing an unmet need.

FILSPARI launch and market performance

• FILSPARI received accelerated approval for IgA nephropathy in February last year and has shown strong launch performance.

• Year two has seen outperformance versus benchmarks, with increasing prescriber adoption and revenue.

• Patient onboarding time has improved from 60 to about 20 days due to process efficiencies.

• Sales force of 80 reps targets 6,000 nephrologists, covering 85% of the market.

• Abandonment rates and onboarding challenges have normalized with added support services.

Market expansion and guidelines

• Awareness and identification of IgA nephropathy patients are increasing, expanding the addressable market.

• Addressable U.S. patient population could grow from 30,000–50,000 to up to 70,000 with full approval and guideline changes.

• Imminent KDIGO guideline update expected to include FILSPARI and lower treatment thresholds, supporting earlier diagnosis and treatment.