aibioTravere Therapeutics TVTX offering, convertible notes and buyback news
Top story · Sep 21, 2026 · SEC filing 8-K
Travere Therapeutics reports a leadership change
Dube, who will step down from his position as the Company’s President and Chief Executive Officer and as a member of the Board of Directors of the Company effective as of December 1, 2026 (the “Officer Resignation Date”).
- Ticker
- TVTX
- Listing
- NASDAQ, United States
- Next date
- December 1, 2026
- Chief executive
- Eric Dube, Ph.D., President and Chief Executive Officer (steps down December 1, 2026; Bradley L. Campbell named successor)
Desk view · Opinion · Updated Oct 22, 2026
Travere's FILSPARI growth is real. The CEO change and pipeline add risk
Travere has a fast-growing kidney drug with two approved uses and enough cash to fund its plans. The company has also added convertible debt, licensed a new immune-targeted drug, and will change chief executive on December 1. The FSGS launch and the pegtibatinase phase 3 in 2027 are the two events that will decide whether growth lasts beyond FILSPARI in IgA nephropathy.
Read the full desk viewaibio.space Investor Rank · Opinion
7/10 Positive view
FILSPARI sales nearly doubled with two approved uses, but convertible debt exceeds cash, the CEO leaves December 1 and the pipeline carries more risk.
- Technology
- 2/2
- Odds
- 1/2
- Balance sheet
- 1/2
- Risk
- 1/2
- Momentum
- 2/2
Opinion only. The Investor Rank is aibio.space's opinion of the company's business position, drawn from the public sources on this page. It is not a recommendation to buy, sell or hold any security and it is not investment advice. It does not consider the share price, valuation or your circumstances, and it can change at any time. Payments from companies never affect it. How the rank works.
- Technology
- Commercially proven. FILSPARI sales grew 96% in Q2, and the drug is approved for IgA nephropathy and FSGS.
- Odds
- Solid core, riskier pipeline. FILSPARI has two approvals, while pegtibatinase restarted phase 3 in 2026 after a 2024 manufacturing pause.
- Balance sheet
- Well funded, more debt. Cash was $489.2 million at June 30 against $619.9 million of convertible note principal.
- Main risk
- Leadership turnover mid-launch. The chief executive leaves December 1, as the FSGS launch and the HARMONY trial continue.
- Watch next
- Third-quarter FILSPARI sales. The next report should show whether the second-quarter jump holds; Travere has not split FILSPARI sales between IgA nephropathy and FSGS.
Top news on Travere
- Debt Financing
Travere sells $525 million of 2032 convertible notes to buy back $221 million of 2029 notes
The 0.50% notes would lift convertible principal to $619.9 million but cut the coupon. Travere said it would spend about $350.9 million to repurchase part of the older debt.
- Debt Financing
Travere proposes $400 million convertible notes offering
Travere plans to sell $400 million of convertible senior notes due 2032, with an option for up to $60 million more. It intends to use part of the proceeds to repurchase 2029 notes for cash.
Questions investors ask
What is aibio.space's Investor Rank for Travere Therapeutics?
7 out of 10, our positive view. FILSPARI sales nearly doubled with two approved uses, but convertible debt exceeds cash, the CEO leaves December 1 and the pipeline carries more risk. This is opinion only, not a recommendation to buy, sell or hold, and it does not consider the share price or valuation. Source
What is FILSPARI approved to treat?
In the U.S., FILSPARI (sparsentan) is approved to slow kidney function decline in adults with primary IgA nephropathy at risk of progression, and to reduce proteinuria in patients aged 8 and older with focal segmental glomerulosclerosis (FSGS) without nephrotic syndrome. Source
How large were Travere's second-quarter 2026 sales?
Travere reported U.S. net product sales of $161.4 million for the second quarter, of which FILSPARI was $141.1 million, up 96% from a year earlier. Source
Who is the CEO of Travere Therapeutics?
Eric Dube, Ph.D., is president and chief executive officer. He steps down on December 1, 2026, when Bradley L. Campbell, formerly chief executive of Amicus Therapeutics, takes over. Source
When will pegtibatinase phase 3 data be available?
Travere expects topline data from the phase 3 HARMONY study of pegtibatinase in classical homocystinuria in the second half of 2027. Enrollment was paused in September 2024 for manufacturing scale-up and restarted in 2026. Source
What did Travere pay for civorebrutinib?
Travere paid Everest Medicines $112.5 million upfront in July 2026 and could pay about $1.03 billion more in development, regulatory and commercial milestones, plus tiered royalties on net sales in its territory. Source
What is the latest Travere Therapeutics (TVTX) stock news?
Our latest story on Travere Therapeutics, dated May 11, 2026: "Travere sells $525 million of 2032 convertible notes to buy back $221 million of 2029 notes". The 0.50% notes would lift convertible principal to $619.9 million but cut the coupon. Travere said it would spend about $350.9 million to repurchase part of the older debt. Source
Does Travere Therapeutics have debt, a term loan or convertible notes?
Our latest debt story, dated May 11, 2026: "Travere sells $525 million of 2032 convertible notes to buy back $221 million of 2029 notes". The 0.50% notes would lift convertible principal to $619.9 million but cut the coupon. Travere said it would spend about $350.9 million to repurchase part of the older debt. Source
How much cash does Travere Therapeutics have?
From our story of May 11, 2026: Travere estimated net proceeds at about $508.5 million after underwriting discounts and expenses, per the 8-K. It said it would spend about $350.9 million in cash, including accrued interest, to retire $221.4 million of 2029 note principal, well above the principal being retired. Source
What is Travere Therapeutics's market cap?
We do not publish live share prices. In its annual report, Travere Therapeutics, Inc. put the market value of shares held by non-affiliates (public float) at $1.31 billion as of Jun 30, 2025. Source
Is Travere Therapeutics a smaller reporting company?
SEC records list Travere Therapeutics, Inc.'s filer category as: Large accelerated filer. Source
Where is Travere Therapeutics headquartered?
SEC records list its business address as 3611 VALLEY CENTRE DR, SAN DIEGO, CA, 92130. Source
When does Travere Therapeutics's fiscal year end?
Travere Therapeutics, Inc.'s fiscal year ends on December 31, per SEC records. Source
What did Travere Therapeutics last file with the SEC?
Its most recent filing in our record is an 8-K filed 2026-09-21. All of its filings are on SEC EDGAR. Source
What was Travere Therapeutics called before?
SEC records list these former names: Retrophin, Inc.; Desert Gateway, Inc.. Source
Legal and investor matters
Note 13 (Legal Proceedings) of the 10-Q filed 2026-08-04, incorporated into Part II, Item 1, states the company does not believe it is a party to any claim or litigation in which an adverse outcome would be reasonably expected to have a material adverse effect on its results of operations or financial condition. It also discloses the open FTC civil investigative demand described above. Source
- Governance
Travere names Bradley Campbell CEO to succeed Eric Dube
On 2026-09-21 Travere Therapeutics and Eric Dube agreed on a transition under which Dube steps down as president, chief executive and director effective 2026-12-01. Bradley L. Campbell, formerly chief executive of Amicus Therapeutics, was named successor. Dube stays as an employee until 2027-02-16 or an earlier agreed date. The company disclosed the terms in a Form 8-K.
- Regulatory
Travere reports FTC civil investigative demand remains open
Travere's 10-Q filed 2026-08-04 says the company completed its response in 2020 to a civil investigative demand from the Federal Trade Commission. The demand related to the marketing, sale, distribution and pricing of its products, including Thiola. The filing says the investigation remains open, that the FTC has not indicated it has additional questions, and that no claim or proceeding has been started.
- Other
Travere licenses Everest's BTK inhibitor civorebrutinib for $112.5 million upfront
On 2026-06-01 Travere Therapeutics entered into a license and collaboration agreement with Everest Medicines (Singapore) for civorebrutinib, a BTK inhibitor, outside China and certain East and Southeast Asian countries. Travere owes an upfront payment of $112.5 million and up to about $1.03 billion in milestone payments. The agreement becomes effective after the Hart-Scott-Rodino waiting period expires or ends.
- Financing
Travere closes $525 million convertible notes offering due 2032
On 2026-05-11 Travere Therapeutics completed a registered public offering of $525.0 million of 0.50% convertible senior notes due 2032, including $50.0 million sold on exercise of the over-allotment option. The initial conversion price is about $64.90 per share. The company estimated net proceeds of about $508.5 million and planned to use part of them to repurchase about $221.4 million of its 2.25% notes due 2029.
- Financing
Travere prices offering of 7,812,500 shares at $16.00
On 2024-11-07 Travere Therapeutics entered into an underwriting agreement with Jefferies and Leerink Partners for a public offering of 7,812,500 common shares at $16.00 per share. The company expected net proceeds of about $117.0 million after underwriting discounts and offering expenses, with closing expected on 2024-11-12.
Pipeline
| Program | Indication | Stage |
|---|---|---|
| FILSPARI (sparsentan) | IgA nephropathy, adults at risk of progression | Marketed in the U.S.; partner Chugai submitted a Japanese application in June 2026 Source |
| FILSPARI (sparsentan) | FSGS without nephrotic syndrome, patients aged 8 and older | FDA approved April 13, 2026; launched Source |
| FILSPARI (sparsentan) | Recurrent IgAN or FSGS after kidney transplant (SPARX) | Enrollment complete; data presentations anticipated 2027 Source |
| Pegtibatinase (TVT-058) | Classical homocystinuria | Phase 3 HARMONY enrolling about 70 patients; topline data 2H 2027 Source |
| Civorebrutinib (EVER001), oral BTK inhibitor | Primary membranous nephropathy, immune-mediated FSGS, minimal change disease | Phase 1/2 data in primary membranous nephropathy; in-licensed from Everest Medicines Source |
Stock chart
SEC filings and registration
- SEC name
- Travere Therapeutics, Inc.
- CIK
- 1438533
- Industry (SIC)
- Pharmaceutical Preparations (2834)
- US tickers
- TVTX (Nasdaq)
- State or country of incorporation
- CA
- Fiscal year ends
- December 31
- Filer category
- Large accelerated filer
- Business address
- 3611 VALLEY CENTRE DR, SAN DIEGO, CA, 92130
- Phone
- 888-969-7879
- Shares outstanding
- 94,261,082 as of 2026-07-30 (10-Q filed 2026-08-04)
- Former names
- Retrophin, Inc.; Desert Gateway, Inc.
Recent filings
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