TRAVERE THERAPEUTICS Reports Positive Q2 Earnings Results for FY2023
August 10, 2023
☀️Earnings Overview
For the second quarter of FY2023, TRAVERE THERAPEUTICS ($NASDAQ:TVTX) recorded total revenue of USD 59.7 million, a 10.2% increase year-over-year. Net income for the quarter amounted to USD -85.6 million, an increase from the -67.0 million reported in the same quarter of the previous year. The period ended on June 30 2023.
Market Price
On Thursday, TRAVERE THERAPEUTICS reported positive earnings results for the second quarter of Fiscal Year 2023. The stock opened at $16.5 and closed at $16.3, down by 2.0% from the previous closing price of 16.6. In spite of the minor dip, TRAVERE THERAPEUTICS continues to outperform analysts’ expectations and is expected to exceed its prior year’s results. TRAVERE THERAPEUTICS is a biopharmaceutical company specializing in the development and commercialization of therapeutics to treat rare diseases. The company’s portfolio includes multiple drugs approved by the US Food and Drug Administration for the treatment of various conditions. Its products are distributed across the United States, Europe, and other international markets. The company has made significant progress in its drug development pipeline, with its lead drug in Phase III clinical trials for the treatment of a rare neurodegenerative disorder.
Additionally, Travere has announced a collaboration with a leading medical device manufacturer to accelerate the development of its advanced medical device. The positive second quarter earnings report is a testament to the company’s commitment to developing innovative treatments for rare diseases. The stock market’s response to the news is a clear indication of investors’ confidence in the company’s future prospects. With more potential drugs in the pipeline and continued investments in research and development, TRAVERE THERAPEUTICS is well-positioned to deliver outstanding results in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Travere Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 226.05 | -307.44 | -133.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Travere Therapeutics. More…
| Operations | Investing | Financing |
| -244.58 | -87.21 | 222.09 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Travere Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 736.43 | 619.94 | 1.56 |
Key Ratios Snapshot
Some of the financial key ratios for Travere Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | – | -130.7% |
| FCF Margin | ROE | ROA |
| -127.3% | -120.8% | -25.1% |
Analysis
At GoodWhale, we help investors analyze the financials and business aspects of companies like TRAVERE THERAPEUTICS. Our Risk Rating analysis has determined that TRAVERE THERAPEUTICS is a high risk investment. To illustrate this, we have identified four risk warnings in its income sheet, balance sheet, cashflow statement, and non-financial aspects. If you sign up with us, we can provide you with more detailed information about these risk warnings and how they can affect your investment decisions. Our team of experienced financial analysts is always available to answer any questions you may have about the company and its financial standing. More…
Peers
The Company is focused on the discovery and development of small molecule therapeutics for the treatment of serious and life-threatening diseases. The Company’s competitors include Forma Therapeutics Holdings Inc, Rocket Pharmaceuticals Inc, Candel Therapeutics Inc.
– Forma Therapeutics Holdings Inc ($NASDAQ:RCKT)
Rocket Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing first-in-class gene therapies. The company’s lead product candidates are RP-L201, an investigational AAV9-based gene therapy for the treatment of Leber’s congenital amaurosis 10 (LCA10), and RP-A501, an investigational AAV5-based gene therapy for the treatment of Danon disease.
– Rocket Pharmaceuticals Inc ($NASDAQ:CADL)
Candel Therapeutics Inc is a biotechnology company that focuses on developing therapies for cancer and other diseases. The company has a market capitalization of 44.78 million as of 2022 and a return on equity of -45.07%. The company’s products include small molecule drugs and antibodies. The company’s pipeline includes candidates for the treatment of solid tumors, hematologic malignancies, and other diseases.
Summary
Investors should take note of Travere Therapeutics’ second quarter earnings for FY2023, which saw total revenue rise by 10.2% compared to the same quarter of the previous year. Despite this increase, the company reported a net loss of -85.6 million, significantly higher than the loss of -67 million from the same period a year earlier. This suggests that Travere Therapeutics may not be a sound long-term investment. However, investors should further assess the company’s financial performance and outlook before making any decisions.
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