Stock Alert: Travere Therapeutics Hits New High; Positive News On Drug Candidate Sparsentan

(RTTNews) - Shares of Travere Therapeutics, Inc. (TVTX) are rising more than 12% Tuesday morning on the news that its drug candidate, sparsentan achieved interim proteinuria endpoint in a late-stage study.

The company said, the phase III study of sparsentan, dubbed Duplex, in focal segmental glomerulosclerosis (FSGS) achieved its pre-specified interim FSGS partial remission of proteinuria endpoint (FPRE) after 36 weeks of treatment.

Sparsentan showed a significant response on FPRE compared to the active control, irbesartan, which is part of a class of drugs used to manage FSGS and IgAN in the absence of an approved pharmacologic treatment

The company now plans to pursue submissions for accelerated approval of sparsentan for FSGS. Also, Travere intends to continue its engagement with regulators in the first half of 2021 to discuss the ongoing study and to establish next steps for filing with the available data set.

TVTX touched a new high of $33.09 this morning and currently trading at $29.14.