Here's Why Travere Therapeutics Shares Are Rising Today

Travere Therapeutics Inc TVTX shares are trading higher by 7.66% at $23.88 after the company received a priority review from the FDA for its treatment of IgA Nephropathy.

Travere Therapeutics says the FDA has indicated that it is not currently planning to hold an advisory committee meeting to discuss the application and has assigned a Prescription Drug User Fee Act (PDUFA) target action date of Nov. 17, 2022.

“For decades people living with IgA nephropathy have had limited treatment options while facing a progression toward end-stage kidney disease. If approved, sparsentan would be the first FDA-approved non-immunosuppressive treatment option for IgA nephropathy, and we aspire to ultimately position sparsentan as a new standard of care,” said Eric Dube, Ph.D., president and chief executive officer of Travere Therapeutics.

“Acceptance of the NDA and being granted Priority Review brings us one step closer to potentially delivering sparsentan to the IgA nephropathy community before the end of this year, and we look forward to continuing to work with the FDA throughout the review process.”

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Travere Therapeutics is a biopharmaceutical company. The company is focused on the development and commercialization of therapies for people living with rare diseases.

According to data from Benzinga Pro, Travere Therapeutics has a 52-week high of $31.65 and a 52-week low of $12.75.