Travere Therapeutics, Inc.
travere.comWhat Do They Do?
Develops therapies for people with rare kidney and metabolic diseases and sells FILSPARI and tiopronin medicines.
10-K for FY2025, filed Feb 19, 2026We are a biopharmaceutical company headquartered in San Diego, California, focused on identifying, developing and delivering life-changing…View ↗
In September 2024, the U.S. Food and Drug Administration ("FDA") granted full approval to our lead development program, FILSPARI…View ↗
Product sales consist of FILSPARI and tiopronin products (Thiola and Thiola EC). The Company sells its products to specialty pharmacies and…View ↗
How Do They Make Money?
It sells products through specialty pharmacies and direct-to-patient distributors, with payments generally following shipment or patient delivery. Licensing deals bring upfront fees, milestone payments and royalties on product sales.
10-K for FY2025, filed Feb 19, 2026Product sales consist of FILSPARI and tiopronin products (Thiola and Thiola EC). The Company sells its products to specialty pharmacies and…View ↗
The Company sells FILSPARI to two direct-to-patient specialty pharmacies in the United States. The Company sells its tiopronin products to…View ↗
Payments received under collaboration and licensing agreements may include non-refundable fees at the inception of the arrangements…View ↗
$490.7M
-
10-K for FY2025, filed Feb 19, 2026
$490.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Net product sales
Sold outright
10-K for FY2025, filed Feb 19, 2026 |
84%
FY2022: 90%
|
Net product sales, FY2025
$410.5M Sources
|
Sold outright |
|
License and collaboration revenue
|
16%
FY2022: 11%
|
License and collaboration revenue, FY2025
$80.3M Sources
|
Who Are Their Customers?
In the United States, FILSPARI reaches patients through specialty pharmacies, while tiopronin products are distributed through a direct-to-patient distributor; worldwide product sales go through specialty pharmacies and direct-to-patient distributors.
10-K for FY2025, filed Feb 19, 2026Product sales consist of FILSPARI and tiopronin products (Thiola and Thiola EC). The Company sells its products to specialty pharmacies and…View ↗
The Company sells FILSPARI to two direct-to-patient specialty pharmacies in the United States. The Company sells its tiopronin products to…View ↗
We distribute FILSPARI in the United States through direct-to-patient pharmacies, and operate Travere TotalCare, pursuant to which we…View ↗
Do Revenues Turn Into Profits?
No. It lost $25.5M in FY2025.
10-K for FY2025, filed Feb 19, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
−$34.8MView ↗
- ▲ +173% (Loss)
- vs −$12.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Jun 2, 2026
Licenses civorebrutinib rights outside China and certain Asian markets
Travere will share costs on global trials, develop and commercialize in licensed territories, and pay upfront, milestone and sales-based royalty amounts.
Sources
8-K, filed Jun 2, 2026
On June 1, 2026, Travere Therapeutics, Inc. (the “Company”) entered into a license and collaboration agreement (the “Agreement”) with…View ↗
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Apr 14, 2026
FDA approves FILSPARI for FSGS
The approval extends FILSPARI's use beyond IgAN to another rare kidney disease.
Sources
8-K, filed Apr 14, 2026
On April 13, 2026, Travere Therapeutics, Inc. (the “Company”) announced that the U.S. Food and Drug Administration (“FDA”) has approved…View ↗
Growing. Revenue grew 3.7x in 4 years, from $131.8M in FY2021 to $490.7M in FY2025, about 39% a year.
FILSPARI's approved use
FILSPARI's approved use changed from reducing proteinuria under accelerated approval to slowing kidney function decline under full approval.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 19, 2026In September 2024, the U.S. Food and Drug Administration ("FDA") granted full approval to our lead development program, FILSPARI…View ↗
Who Do They Compete With?
Competes with Novartis, Calliditas, Otsuka, Vera Therapeutics, Vor Bio, Vertex, Roche, Ionis, Alexion, Biogen, Takeda, AstraZeneca, Boehringer Ingelheim, Eli Lilly, Bayer, Idorsia Pharmaceuticals, Kaneka Pharma America, Dimerix, and Apellis Pharmaceuticals
10-K for FY2025, filed Feb 19, 2026Other kidney-targeted agents under clinical development include Novartis’s atrasentan (Vanrafia), an endothelin receptor antagonist…View ↗
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