secwatch.observer — SEC 8-K summary
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Issuer:     Travere Therapeutics, Inc. (TVTX)
CIK:        0001438533
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001193125-23-187704
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Travere sells Chenodal and Cholbam assets to Mirum for up to $445M cash
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- Total consideration up to $445M: $210M at closing plus up to $235M in milestone payments tied to net sales.
- Milestones triggered when annual net sales reach $125M-$500M; closing expected Q3 2023.
- Assets include development, manufacturing, and commercialization rights for Chenodal and Cholbam (Kolbam).
- Mirum to use specified efforts to achieve regulatory approval and milestones; termination date Oct 16, 2023, extended to Apr 16, 2024 for regulatory conditions.
- Deal subject to HSR clearance, other consents; Travere provides transition services post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438533/000119312523187704/0001193125-23-187704-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438533/000119312523187704/d508610d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-187704

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer