Travere Therapeutics (TVTX) Stifel 2026 Virtual Immunology and Inflammation Forum summary

Leadership transition and company outlook

• CEO announced planned departure due to personal health, with Bradley Campbell set to take over December 1, bringing deep rare disease experience and strong cultural fit.

• Company is positioned strongly with robust commercial performance and a diversified pipeline targeting rare diseases.

FILSPARI commercial performance and market dynamics

• FILSPARI saw strong demand in its first full FSGS quarter, with start forms doubling from the IgAN run-rate and broad physician adoption, including 30% new prescribers.

• Uptake in FSGS is expected to reach peak sooner than IgAN due to a more severe patient population and different launch dynamics.

• Gross-to-net for FSGS is expected in the mid-20% range, with more CMS exposure than IgAN but still majority commercial.

• Early patient retention and broad use across FSGS subtypes signal sustained demand.

Competitive landscape and guidelines

• BAFF-APRIL launches have not impeded FILSPARI's growth; KDIGO guidelines support combination therapy, driving earlier and broader treatment.

• Early signs show minimal payer barriers to combination use, and ongoing data generation is expected to support positioning.