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TRAVERE THERAPEUTICS, INC.

(TVTX)
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Vifor Pharma and Travere Therapeutics Announces Licensing Agreement for the Commercialization of Sparsentan in Europe, Australia and New Zealand

09/16/2021 | 01:00am EDT

Vifor Pharma Group and Travere Therapeutics, Inc. announced the companies have entered into a joint collaboration and licensing agreement for the commercialization of sparsentan in Europe, Australia and New Zealand. Sparsentan is a novel investigational product candidate currently being evaluated in pivotal phase-III clinical studies for the treatment of FSGS and IgAN, two rare progressive kidney disorders and leading causes of end-stage kidney disease. There are currently no approved medicines indicated for FSGS or IgAN. Sparsentan has been granted Orphan Drug Designation for the treatment of IgAN and FSGS in the U.S. and Europe. Under the terms of the agreement, Vifor Pharma will receive exclusive commercialization rights for sparsentan in Europe, Australia and New Zealand. Travere will receive an upfront payment of USD 55 million and be eligible for up to USD 135 million in payments tied to the achievement of certain regulatory and market access related milestones. Vifor Pharma will also make further payments in the form of sales milestones, and tiered double-digit royalties on net sales of sparsentan in Europe, Australia and New Zealand up to 40 % at the high end of the royalty range. Following the recently announced positive topline interim results from the ongoing pivotal phase-III PROTECT study of sparsentan in IgAN, Travere and Vifor Pharma will further evaluate the regulatory strategy for sparsentan in Europe, including the potential to submit a joint marketing authorization application for both FSGS and IgAN in 2022. Ultimately, the responsibility for and control over marketing authorizations in the licensed territories will be transitioned to Vifor Pharma. If sparsentan is approved, Vifor Pharma will be responsible for all commercialization activities in the licensed territories. Travere remains responsible for the clinical development of sparsentan and will retain all rights to sparsentan in the U.S. and rest of the world.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 213 M - -
Net income 2021 -174 M - -
Net cash 2021 236 M - -
P/E ratio 2021 -8,25x
Yield 2021 -
Capitalization 1 488 M 1 488 M -
EV / Sales 2021 5,87x
EV / Sales 2022 6,00x
Nbr of Employees 262
Free-Float 96,1%
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Number of Analysts 8
Last Close Price 24,50 $
Average target price 32,71 $
Spread / Average Target 33,5%
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Managers and Directors
Eric M. Dube President, Chief Executive Officer & Director
Laura M. Clague Chief Financial Officer
Gary A. Lyons Chairman
William E. Rote Senior VP, Head-Research & Development
Noah L. Rosenberg Chief Medical Officer
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