Docoh
Loading...

TVTX Travere Therapeutics

Travere Therapeutics is a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, the company knows the need for treatment options is urgent - that is why its global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, Travere continuously seeks to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope - today and tomorrow.

Company profile

Ticker
TVTX
Exchange
CEO
Eric Dube
Employees
Incorporated
Location
Fiscal year end
Former names
Desert Gateway, Inc., Retrophin, Inc.
SEC CIK
Subsidiaries
Travere Therapeutics Pharmaceutical, Inc. • Travere Therapeutics Ireland Limited • Orphan Technologies Limited • Travere Therapeutics Research Ltd • Travere Therapeutics US Holdings, LLC • Kyalin Biosciences, Inc. • Manchester Pharmaceuticals LLC • Centurion Merger Sub, Inc. • Centurion Intermediate Sub, Inc. ...
IRS number
262383102

TVTX stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

29 Jul 21
27 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 83.29M 83.29M 83.29M 83.29M 83.29M 83.29M
Cash burn (monthly) 21.65M 12.82M 12.99M 19.76M (positive/no burn) 2.26M
Cash used (since last report) 85.04M 50.37M 51.02M 77.63M n/a 8.88M
Cash remaining -1.75M 32.91M 32.27M 5.66M n/a 74.41M
Runway (months of cash) -0.1 2.6 2.5 0.3 n/a 32.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Oct 21 Steve Aselage Common Stock Sell Dispose S No Yes 26.26 32,000 840.32K 189,794
7 Oct 21 Steve Aselage Common Stock Sell Dispose S No Yes 26.23 28,000 734.44K 221,794
7 Oct 21 Steve Aselage Common Stock Option exercise Acquire M No No 16.23 60,000 973.8K 249,794
7 Oct 21 Steve Aselage Employee stock option Common Stock Option exercise Dispose M No No 16.23 60,000 973.8K 80,000
4 Oct 21 Peter Heerma Common Stock Sell Dispose S No No 24.7698 3,058 75.75K 60,457
14 Sep 21 Ruth Williams Brinkley Common Stock Grant Acquire A No No 0 5,250 0 5,250
14 Sep 21 Ruth Williams Brinkley Stock Option Common Stock Grant Acquire A No No 23.61 15,750 371.86K 15,750

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 135 151 -10.6%
Opened positions 23 39 -41.0%
Closed positions 39 27 +44.4%
Increased positions 49 57 -14.0%
Reduced positions 43 37 +16.2%
13F shares
Current Prev Q Change
Total value 977.76M 1.79B -45.2%
Total shares 64.04M 65.46M -2.2%
Total puts 113.9K 77.5K +47.0%
Total calls 161.2K 128.2K +25.7%
Total put/call ratio 0.7 0.6 +16.9%
Largest owners
Shares Value Change
Armistice Capital 5.75M $83.86M +144.0%
Ra Capital Management 5.61M $81.92M 0.0%
BLK Blackrock 4.99M $72.84M +3.3%
MCQEF Macquarie 3.91M $57.08M +42.9%
JHG Janus Henderson 3.91M $56.98M -5.9%
Vanguard 3.83M $55.95M -4.2%
Adage Capital Partners GP, L.L.C. 3.59M $52.43M -21.0%
STT State Street 3.45M $50.39M +41.6%
GS Goldman Sachs 2.46M $35.85M +197.0%
MFC Manulife Financial 2.16M $58.79M 0.0%
Largest transactions
Shares Bought/sold Change
Armistice Capital 5.75M +3.39M +144.0%
GS Goldman Sachs 2.46M +1.63M +197.0%
Point72 Asset Management 0 -1.61M EXIT
Manufacturers Life Insurance Company, The 709.5K -1.6M -69.3%
Perceptive Advisors 1.85M -1.45M -44.0%
Avoro Capital Advisors 0 -1.25M EXIT
MCQEF Macquarie 3.91M +1.17M +42.9%
JPM JPMorgan Chase & Co. 1.06M +1.03M +3544.9%
STT State Street 3.45M +1.01M +41.6%
Adage Capital Partners GP, L.L.C. 3.59M -956.24K -21.0%

Financial report summary

?
Risks
  • * Our clinical trials may fail to demonstrate the safety and efficacy of our product candidates, including sparsentan and pegtibatinase (TVT-058), which could prevent or significantly delay their regulatory approval.
  • * We may not be able to reach alignment with the FDA regarding a pathway for potential accelerated approval submissions in the U.S.
  • Success in preclinical testing and early clinical trials does not ensure that later clinical trials will be successful.
  • * Communications and/or feedback from the FDA or EMA related to our current or planned future clinical trials does not guarantee any particular outcome from regulatory review for such clinical trials.
  • * An extended delay in the rate of enrollment or data collection in our ongoing Phase 1/2 Study of pegtibatinase (TVT-058), as a result of the COVID-19 pandemic or otherwise, may delay our timelines for analyzing preliminary or future data from the study.
  • Interim, topline and preliminary data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Even if we receive regulatory approval for any product candidates, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense.
  • The independent clinical investigators and contract research organizations that we rely upon to conduct our clinical trials may not be diligent, careful or timely, and may make mistakes, in the conduct of our trials.
  • * We are subject to generic competition, and recent developments relating to generic competition for pharmaceutical products could cause our product sales and business to be negatively impacted.
  • Changes in reimbursement practices of third-party payers, or patients' access to insurance coverage, could affect the demand for our products and/or the prices at which they are sold.
  • We are dependent on third parties to manufacture and distribute our pharmaceutical products who may not fulfill their obligations.
  • Governments outside the United States tend to impose strict price controls and reimbursement approval policies, which may adversely affect our prospects for generating revenue.
  • We may not be able to rely on orphan drug exclusivity for Cholbam or any of our products.
  • If we are unable to maintain an effective and specialized sales force, we will not be able to commercialize our products successfully.
  • Our products may not achieve or maintain expected levels of market acceptance or commercial success.
  • If the market opportunities for our products and product candidates are smaller than we believe they are, our revenues may be adversely affected and our business may suffer.
  • Our product candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval or commercialization.
  • We do not currently have patent protection for our commercial products. If we are unable to obtain and maintain protection for the intellectual property relating to our technology and products, the value of our technology and products will be adversely affected.
  • We expect to rely on orphan drug status to develop and commercialize certain of our product candidates, but our orphan drug designations may not confer marketing exclusivity or other expected commercial benefits.
  • * Any drugs we develop may become subject to unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives, thereby harming our business.
  • We face potential product liability exposure far in excess of our limited insurance coverage.
  • * We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than we do. Our operating results will suffer if we fail to compete effectively.
  • Use of third parties to manufacture our products and product candidates may increase the risk that we will not have sufficient quantities of our product and product candidates or such quantities at an acceptable cost, and clinical development and commercialization of our product and product candidates could be delayed, prevented or impaired.
  • Materials necessary to manufacture our products and product candidates may not be available on commercially reasonable terms, or at all, which may delay the development and commercialization of our products and product candidates.
  • * The COVID-19 pandemic could materially adversely affect our business, results of operations and financial condition.
  • Our limited operating history makes it difficult to evaluate our future prospects, and our profitability in the future is uncertain.
  • We will likely experience fluctuations in operating results and could incur substantial losses.
  • Negative publicity regarding any of our products could impair our ability to market any such product and may require us to spend time and money to address these issues.
  • We may not have sufficient insurance to cover our liability in any current or future litigation claims either due to coverage limits or as a result of insurance carriers seeking to deny coverage of such claims.
  • We may need substantial funding and may be unable to raise capital when needed, which would force us to delay, reduce or eliminate our product development programs or commercialization efforts.
  • The market price for shares of our common stock may be volatile and purchasers of our common stock could incur substantial losses.
  • We may be unable to successfully integrate new products or businesses we may acquire.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and to limit commercialization of any products that we may develop.
  • We may become involved in certain litigation matters, any of which could result in substantial costs, divert management's attention and otherwise have a material adverse effect on our business, operating results or financial condition.
  • * We are subject to significant ongoing regulatory obligations and oversight, which may result in significant additional expense and may limit our commercial success.
  • If we are not able to obtain and maintain required regulatory approvals, we will not be able to commercialize our products, and our ability to generate revenue will be materially impaired.
  • Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition or results of operations.
  • Our effective tax rate may fluctuate, and we may incur obligations in tax jurisdictions in excess of accrued amounts.
  • Our ability to use net operating loss carryforwards and certain other tax attributes to offset future taxable income and taxes may be subject to limitations.
  • * Our internal computer systems, or those of our CROs or other contractors and vendors who host our applications or consultants, may fail or suffer security breaches, which could result in a material disruption of our product development programs.
  • * We are dependent on information technology systems, infrastructure and data, which exposes us to data security risks.
  • Changes in funding for the FDA, the SEC and other government agencies could hinder their ability to hire and retain key leadership and other personnel, prevent new products and services from being developed or commercialized in a timely manner or otherwise prevent those agencies from performing normal functions on which the operation of our business may rely, which could negatively impact our business.
  • The withdrawal of the United Kingdom from the European Union, commonly referred to as “Brexit,” may adversely impact our ability to obtain regulatory approvals of our product candidates in the European Union, result in restrictions or imposition of taxes and duties for importing our product candidates into the European Union, and may require us to incur additional expenses in order to develop, manufacture and commercialize our product candidates in the European Union.
  • Business disruptions could seriously harm our future revenue and financial condition and increase our costs and expenses.
  • Our indebtedness could adversely affect our financial condition.
  • We may be unable to raise the funds necessary to repurchase the 2025 Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our future indebtedness may limit our ability to repurchase the 2025 Notes or pay cash upon their conversion.
  • A default under the 2025 Notes may have a material adverse effect on our financial condition.
  • Provisions of the 2025 Notes could discourage an acquisition of us by a third party.
  • Conversion of the Notes may dilute the ownership interest of existing stockholders, including holders who had previously converted their 2025 Notes.
Management Discussion
  • The sales increase for the three and six months ended June 30, 2021 compared to the three and six months ended June 30, 2020 was due to increased patient counts.
  • We make significant investments in research and development in support of our development programs. Research and development costs are expensed as incurred and include salaries and bonuses, benefits, non-cash share-based compensation, license fees, costs paid to third-party contractors to perform research, conduct clinical trials, and develop drug materials, and associated overhead expenses and facility costs.
  • For the three and six months ended June 30, 2021 as compared to the three and six months ended June 30, 2020, our research and development expenses increased by $21.0 million and $38.7 million, respectively, due primarily to increased clinical trial expenses, including those in relation to TVT-058 and the acquisition of Orphan Technologies Limited, as well as increased personnel expenses arising from increased headcount.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: Albireo, alleviate, analyzing, argued, attack, Bylvay, category, cessation, Colorado, context, coupled, dataset, detection, equivalent, expressed, extortion, extra, flat, incident, instructed, Intrahepatic, landscape, lawfully, Maryland, medium, MFN, motivate, odevixibat, path, PFIC, preferable, procedural, procedure, ransomware, revoked, Secretary, stemming, thereunder, Thola, threat, traditional, unwilling, Virginia
Removed: accepting, allegation, alternate, announcing, circuit, coordination, exacerbate, experiencing, gained, initiating, jeopardizing, Judge, line, push, remanded, ruled, sequencing, top, unblind, unblinding, withdrew