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Travere Therapeutics, Inc., a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases in the United States. The company's products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones. Its clinical-stage programs consist of Sparsentan, a novel investigational product candidate, which has been granted Orphan Drug Designation for the treatment of focal segmental glomerulosclerosis in the U.S. and Europe; and Pegtibatinase, a novel investigational human enzyme replacement candidate being evaluated for the treatment of classical homocystinuria. It has a collaboration agreement with PharmaKrysto Limited for the pre-clinical activities associated with the cystinuria program. Travere Therapeutics, Inc. was formerly known as Retrophin, Inc. and changed its name to Travere Therapeutics, Inc. in November 2020. The company is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $491M | $22M | $-26M | $-20M | -22.2% | 110.5% | -92.1% |
| 2024 | $233M | $-266M | $-322M | $-339M | -544.3% | 60.5% | 188.6% |
| 2023 | $145M | $-326M | $-111M | $-322M | -55.5% | 32.7% | -60.0% |
| 2022 | $109M | $-299M | $-278M | $-215M | -649.9% | - | - |
| 2021 |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 109.46 | 145.24 | 233.18 | 490.73 |
| Operating Revenue | - | 109.46 | 145.24 | 233.18 | 490.73 |
| Cost Of Revenue | - | 4.42 | 11.45 | 7.74 | 10.34 |
| Gross Profit | - | 105.04 | 133.79 | 225.43 | 480.39 |
| Operating Expense | - | 424.85 | 510.53 | 546.82 | 543.21 |
| Research And Development | - | 227.33 | 244.99 | 282.70 | 206.01 |
| Selling General And Administration | - | 197.52 | 265.54 | 264.12 | 337.20 |
| Total Expenses | - | 429.27 | 521.98 | 554.56 | 553.55 |
| Operating Income | - | -319.81 | -376.74 | -321.39 | -62.82 |
| Total Operating Income As Reported | - | -319.81 | -388.14 | -323.83 | -62.82 |
| EBITDA | - | -299.42 | -326.25 | -265.77 | 22.22 |
| Normalized EBITDA | - | -291.84 | -314.85 | -263.33 | 22.22 |
| EBIT | - | -320.14 | -364.78 | -309.33 | -38.52 |
| Interest Income | - | 6.28 | 21.77 | 17.82 | 12.72 |
| Interest Expense | - | 11.01 | 11.33 | 11.18 | 10.75 |
| Net Interest Income | - | -4.74 | 10.43 | 6.64 | 1.97 |
| Other Non Operating Income Expenses | - | 0.97 | 1.59 | -3.32 | 11.58 |
| Other Income Expense | - | -6.60 | -9.80 | -5.76 | 11.58 |
| Interest Income Non Operating | - | 6.28 | 21.77 | 17.82 | 12.72 |
| Interest Expense Non Operating | - | 11.01 | 11.33 | 11.18 | 10.75 |
| Net Non Operating Interest Income Expense | - | -4.74 | 10.43 | 6.64 | 1.97 |
| Pretax Income | - | -331.16 | -376.11 | -320.51 | -49.27 |
| Tax Provision | - | 0.31 | 0.22 | 0.12 | 0.99 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.59 | -2.39 | -0.51 | 0 |
| Net Income Continuous Operations | - | -331.47 | -376.33 | -320.63 | -50.26 |
| Net Income From Continuing And Discontinued Operation | - | -278.48 | -111.40 | -321.54 | -25.55 |
| Net Income From Continuing Operation Net Minority Interest | - | -331.47 | -376.33 | -320.63 | -50.26 |
| Net Income | - | -278.48 | -111.40 | -321.54 | -25.55 |
| Net Income Common Stockholders | - | -278.48 | -111.40 | -321.54 | -25.55 |
| Net Income Including Noncontrolling Interests | - | -278.48 | -111.40 | -321.54 | -25.55 |
| Normalized Income | - | -325.48 | -367.33 | -318.70 | -50.26 |
| Diluted NI Availto Com Stockholders | - | -278.48 | -111.40 | -321.54 | -25.55 |
| Basic Average Shares | - | 63.76 | 74.27 | 78.89 | 89.21 |
| Diluted Average Shares | - | 63.76 | 74.27 | 78.89 | 89.21 |
| Reconciled Depreciation | - | 20.72 | 38.53 | 43.56 | 60.74 |
| Reconciled Cost Of Revenue | - | 4.42 | 11.45 | 7.74 | 10.34 |
| Total Unusual Items | - | -7.58 | -11.39 | -2.44 | 0 |
| Total Unusual Items Excluding Goodwill | - | -7.58 | -11.39 | -2.44 | 0 |
| Net Income Discontinuous Operations | - | 52.99 | 264.93 | -0.92 | 24.72 |
| Special Income Charges | - | -7.58 | -11.39 | -2.44 | 0 |
| Other Special Charges | - | 7.58 | - | - | - |
| Write Off | 0 | - | - | - | - |
| Impairment Of Capital Assets | 0 | - | - | - | - |
| Restructuring And Mergern Acquisition | - | 0 | 11.39 | 2.44 | 0 |
| General And Administrative Expense | - | 197.52 | 265.54 | 264.12 | 337.20 |
| Other Gand A | - | 197.52 | 265.54 | 264.12 | 337.20 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Travere Therapeutics, Inc.this co. | TVTX | $4.3B | -168.11 | 37.40 | -22.2% | 203.89 |
| Twist Bioscience Corporation | TWST | $4.6B | -59.27 | 9.73 | -16.4% | -40.36 |
| Dianthus Therapeutics, Inc. | DNTH | $4.6B | -28.33 | 9.32 | -32.9% | -25.63 |
| Amicus Therapeutics, Inc. | FOLD | $4.5B | -167.83 | 16.59 | -9.9% | 88.80 |
| Celcuity Inc. | CELC |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $4.5B |
| -25.47 |
| 44.85 |
| -176.1% |
| -29.21 |
| 10x Genomics, Inc. | TXG | $4.3B | -97.67 | 5.34 | -5.5% | 988.34 |
| Erasca, Inc. | ERAS | $4.1B | -33.13 | 12.69 | -38.3% | -31.96 |
| LivaNova PLC | LIVN | $4.0B | -16.70 | 3.37 | -20.2% | -34.40 |
| Edgewise Therapeutics, Inc. | EWTX | $4.0B | -23.87 | 7.67 | -32.1% | -20.88 |
| Peer Median | - | -30.73 | 9.53 | -26.2% | -27.42 | |