secwatch.observer — SEC 8-K summary
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Issuer:     Travere Therapeutics, Inc. (TVTX)
CIK:        0001438533
Form:       8-K/A
Filed at:   2023-09-07T23:59:59+00:00
Accession:  0001438533-23-000041
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Travere completes asset sale to Mirum for up to $445M; pro forma shows reduced continuing ops revenue
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- Net cash proceeds of $210M at close plus up to $235M in milestones from sale of Chenodal/Cholbam to Mirum; estimated gain of $235M.
- Pro forma continuing ops revenue for H1 2023: $63M (down from $116.7M), net loss $198.6M, EPS ($2.75).
- Pro forma continuing ops revenue for FY2022: $109.5M (down from $212M), net loss $329.8M, EPS ($5.17).
- Pro forma balance sheet at June 30, 2023: cash $277M, total assets $897M, equity $348M.
- Milestone payments of up to $235M tied to annual net sales thresholds of $125M-$500M for divested products.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1438533/000143853323000041/0001438533-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1438533/000143853323000041/tvtx-20230831.htm
  HTML page:      https://secwatch.observer/filing/0001438533-23-000041

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