Travere Therapeutics, Inc. (TVTX): restructuring charge — Travere announces successful pre-NDA for FILSPARI in IgAN, FSGS setback, and 20% workforce reduction

Travere Therapeutics, Inc.

Successful pre-NDA meeting for FILSPARI in IgA nephropathy; sNDA submission for full approval planned for Q1 2024.
Two-year Phase 3 DUPLEX results insufficient for FSGS sNDA; additional analyses planned with FDA re-engagement in 2024.
Company approves ~20% workforce reduction (non-field employees) as part of strategic reorganization; charges estimated $12-14M.
Majority of restructuring charges expected in Q4 2023; cash payments substantially complete by Q1 2024.
Focus on FILSPARI launch and pegtibatinase Phase 3 program for HCU.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Travere Therapeutics, Inc. announced a restructuring with charges of approximately $12-14 million affecting non-field-based employees (approximate 20% workforce reduction).

Type: restructuring
Charge: approximately $12-14 million
Affected area: non-field-based employees
Headcount: approximate 20% workforce reduction

Exact text from the filing

the Company approved a strategic reorganization (the “Strategic Reorganization”). The Strategic Reorganization was approved by the Company on November 30, 2023 and is expected to be completed by the second quarter of 2024. As part of the Strategic Reorganization, the Company is implementing an approximate 20% workforce reduction focused on non-field-based employees. The Company estimates that it will incur aggregate non-recurring charges of approximately $12-14 million in connection with the Strategic Reorganization

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7 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Travere Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001438533-23-000050

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