Calvin Sandra, the Senior Vice President and Chief Accounting Officer at Travere Therapeutics, Inc. (NASDAQ:TVTX), recently sold shares of the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Sandra sold 925 shares at a price of $18.9408 each, totaling approximately $17,520. The stock has shown remarkable momentum, currently trading at $20.81, near its 52-week high of $20.89, and has delivered an impressive 129% return over the past year.
This transaction was executed on January 22, 2025. Following the sale, Sandra retains ownership of 54,002 shares in the company. The sale was conducted to cover tax withholding obligations related to the settlement of vested restricted stock units, as mandated by Travere's equity incentive plans. This transaction was not a discretionary trade by Sandra. According to InvestingPro, which offers comprehensive insider trading analysis among its 12+ exclusive tips for TVTX, the company has demonstrated strong momentum with a 115% gain over the past six months.
In other recent news, Travere Therapeutics has announced a public offering of its common stock, with Jefferies and Leerink Partners managing the offering. The biopharmaceutical company, however, has not provided specifics regarding the use of proceeds from the offering. In another development, Travere has reported robust growth in the third quarter of 2024, largely spurred by the commercial launch of its drug FILSPARI for IgA nephropathy. This led to a 30% increase in net sales, with total revenue for the quarter rising to $62.9 million. Despite these gains, the company reported a net loss of $54.8 million, attributed to a one-time gain from a product sale in the previous year. Travere is also making progress in its sparsentan program for Focal Segmental Glomerulosclerosis, with promising study results and upcoming regulatory discussions. These recent developments underscore Travere's commitment to its growth strategies and its focus on addressing rare diseases.
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