Travere Therapeutics Files Q3 2024 10-Q

TL;DR

**Travere Therapeutics (TVTX) Q3 2024 10-Q filed. Financials updated.**

AI Summary

Travere Therapeutics, Inc. filed a 10-Q for the period ending September 30, 2024. The company, formerly known as Retrophin, Inc., reported financial results for the third quarter and the first nine months of 2024. Specific financial figures and operational details for this period are available within the full filing.

Why It Matters

This filing provides investors with an update on Travere Therapeutics' financial health and operational progress for the third quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Travere Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition, which are detailed in their SEC filings.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20241031 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Travere Therapeutics, Inc. (company) — Filer of the 10-Q
• Retrophin, Inc. (company) — Former name of Travere Therapeutics
• September 30, 2024 (date) — End of the reporting period
• 20241031 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share TVTX The Nasdaq Global Market

Filing Documents

• tvtx-20240930.htm (10-Q) — 1719KB
• tvtx-09302024x10qxexhibit11.htm (EX-1.1) — 274KB
• tvtx-09302024x10qxexhibit51.htm (EX-5.1) — 13KB
• tvtx-09302024x10qxex101.htm (EX-10.1) — 34KB
• tvtx-09302024x10qxex311.htm (EX-31.1) — 12KB
• tvtx-09302024x10qxex312.htm (EX-31.2) — 12KB
• tvtx-09302024x10qxex321.htm (EX-32.1) — 9KB
• tvtx-09302024x10qxex322.htm (EX-32.2) — 9KB
• cooleygraphica01.jpg (GRAPHIC) — 24KB
• tvtx-20240930_g1.jpg (GRAPHIC) — 59KB
• 0001438533-24-000048.txt ( ) — 9755KB
• tvtx-20240930.xsd (EX-101.SCH) — 61KB
• tvtx-20240930_cal.xml (EX-101.CAL) — 106KB
• tvtx-20240930_def.xml (EX-101.DEF) — 376KB
• tvtx-20240930_lab.xml (EX-101.LAB) — 755KB
• tvtx-20240930_pre.xml (EX-101.PRE) — 577KB
• tvtx-20240930_htm.xml (XML) — 1238KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 4 Unaudited Consolidated Statements of Operations and Comprehensive ( Loss ) Income for the three and nine months ended September 30, 2024 and 2023 5 Unaudited Consolidated Statements of Stockholders' (Deficit) Equity for the three and nine months ended September 30, 2024 and 2023 6 Unaudited Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 8 Notes to Unaudited Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 66 Item 3. Defaults Upon Senior Securities 66 Item 4. Mine Safety Disclosures 66 Item 5. Other Information 66 Item 6. Exhibits 68 1 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking statements. Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in this Quarterly Report on Form 10-Q. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially av

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TRAVERE THERAPEUTICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share amounts) September 30, 2024 December 31, 2023 Assets (unaudited) Current assets: Cash and cash equivalents $ 36,409 $ 58,176 Marketable debt securities, at fair value 241,030 508,675 Accounts receivable, net 25,170 21,179 Inventory 6,356 9,410 Prepaid expenses and other current assets 15,775 19,335 Total current assets 324,740 616,775 Long-term inventory 36,522 31,494 Property and equipment, net 6,162 7,479 Operating lease right of use assets 15,662 18,061 Intangible assets, net 104,205 104,443 Other assets 17,119 10,661 Total assets $ 504,410 $ 788,913 Liabilities and Stockholders' (Deficit) Equity Current liabilities: Accounts payable $ 23,195 $ 41,675 Accrued expenses 83,916 118,991 Convertible debt, current portion 68,599 — Deferred revenue, current portion 3,799 7,096 Operating lease liabilities, current portion 5,297 4,909 Other current liabilities 5,232 5,237 Total current liabilities 190,038 177,908 Convertible debt, less current portion 309,957 377,263 Operating lease liabilities, less current portion 18,581 22,612 Other non-current liabilities 16,288 10,320 Total liabilities 534,864 588,103 Commitments and Contingencies (See Note 13) Stockholders' (Deficit) Equity: Preferred stock $ 0.0001 par value; 20,000,000 shares authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 — — Common stock $ 0.0001 par value; 200,000,000 shares authorized; 77,909,042 , and 75,367,117 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 8 7 Additional paid-in capital 1,357,457 1,327,881 Accumulated deficit ( 1,386,903 ) ( 1,125,622 ) Accumulated other comprehensive loss ( 1,016 ) ( 1,456 ) Total stockholders' (deficit) equity ( 30,454 ) 200,810 Total liabilities and stockholders' (deficit) equity $ 504,410 $ 788,913 T

View Full Filing

View this 10-Q filing on SEC EDGAR