Travere Therapeutics (NASDAQ:TVTX) stock is on the rise Monda and it’s all thanks to positive interim results from one of its Phase 3 clinical trials.
This study sees Travere Therapeutics testing the effectiveness of sparsentan in the treatment of IgA nephropathy. The treatment was able to achieve significant results compared to what was expected from it.
Among these results boosting TVTX stock today is the interim primary endpoint. The results reported by Travere Therapeutics show a “threefold reduction of proteinuria from baseline after 36 weeks of treatment.”
Eric Dube, Ph.D., CEO of Travere Therapeutics, said this about the interim study results.
“IgAN is a leading cause of end-stage kidney disease and there is a clear need for novel treatment options to slow the progression of this devastating rare kidney disorder. These data from the PROTECT Study further demonstrate sparsentan’s ability to significantly reduce proteinuria and support its potential to become a new foundational treatment for people living with IgAN, if approved.”
Travere Therapeutics say it plans to move forward with the development and approval process for sparsentan. This will have it applying for accelerated approval in the U.S. in the first half of 2022. The company also intends to submit an application for conditional marketing authorization in Europe.
TVTX stock is seeing heavy trading on today’s news. This has some 19 million shares changing hands as of this writing. That’s quite the surge compared to its daily average trading volume of about 788,000 shares.
TVTX stock was up 19.3% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.