Travere Therapeutics Inc. Updates: FDA Developments and Market Reactions
Travere Therapeutics, Inc., a biopharmaceutical company specializing in therapies for rare diseases, has recently made significant strides in its drug development efforts. The company, based in San Diego, United States, announced that the FDA has accepted its supplemental New Drug Application (sNDA) for FILSPARI (sparsentan) in treating Focal Segmental Glomerulosclerosis (FSGS). This development was reported on May 15, 2025, by Business Wire and Seeking Alpha.
The acceptance of the sNDA is a crucial step forward for Travere, as it moves closer to potentially expanding the approval of FILSPARI, a drug initially approved for treating resistant hypertension. The company’s stock has been under the spotlight following this news, with Citi maintaining a $35 target price on Travere stock, as reported by Investing.com on May 16, 2025.
Despite the positive news regarding the FDA’s acceptance of the sNDA, Travere’s stock experienced a downturn. On the same day, Investing.com reported that the stock nosedived as the FDA scheduled an advisory meeting to discuss the supplemental use of the kidney drug. This development led to some retail investors shrugging off the initial optimism.
As of May 13, 2025, Travere’s close price was $21.09, with a 52-week high of $25.29 and a low of $6.01. The company’s market capitalization stands at approximately $1.84 billion, and it operates within the biotechnology sector of the health care industry. Travere’s price-to-earnings ratio is currently at -5.08, reflecting the company’s financial performance and market expectations.
In the broader market context, Travere was not the only company experiencing significant stock movements. On May 16, 2025, Finanznachrichten.de reported pre-market movers, highlighting substantial gains in other biotech and technology stocks, such as TSS, Inc. and Treasure Global Inc.
Overall, Travere Therapeutics continues to navigate the complex landscape of drug development and regulatory approval, with its recent FDA developments marking a pivotal moment in its journey to expand its therapeutic offerings.