Retrophin Announces Corporate Name Change to Travere Therapeutics, Inc.
New name reflects dedication to patient-inspired mission of identifying, developing and delivering life-changing rare disease therapies
Company’s shares to trade under new ticker symbol TVTX on November 19
SAN DIEGO, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Retrophin Inc., (NASDAQ: RTRX) today announced that the Company has changed its global corporate name to Travere Therapeutics, Inc. This new name reflects the Company’s steadfast dedication to helping people as they navigate life with rare disease, as well as the forward momentum of its promising pipeline of potential first-in-class therapeutic candidates. In conjunction with the name change, the Company expects to begin trading under the new ticker symbol "TVTX" on the Nasdaq Global Select Market at market open on November 19, 2020.
“Over the last several years we have emboldened a patient-inspired mindset in all aspects of our organization, and championed our mission of identifying, developing and delivering life changing therapies to people living with rare disease,” said Eric Dube, Ph.D., chief executive officer of Travere Therapeutics. “We developed this new name to reflect our commitment to forging new paths with patients to deliver hope and innovation, and to honor our remarkable evolution. As we enter an exciting period of our journey led by the promising future of our pipeline of potential first-in-class therapies, now is the right time to transition to Travere Therapeutics.”
The name Travere (pronounced “truh-veer”) Therapeutics represents the Company’s commitment to being a trusted partner to patients and their communities as they face the ever-changing path of living with rare disease. Its patient-inspired approach is captured in its new tagline, “In rare for life,” which speaks to the Company’s dedication to working with the rare disease community to make a positive impact on the many aspects of patients’ lives, beyond delivering life-changing treatments.
Travere Therapeutics is advancing therapeutic candidates for rare disorders in nephrology, hepatology and metabolism; sponsoring no-cost genetic testing aimed at improving the diagnostic odyssey for children born with cholestasis; partnering with patient advocacy organizations to meet the diverse needs of patients and their families; and ensuring broad access and education for its FDA-approved therapies.
The Company’s pipeline is led by sparsentan, which is being investigated in pivotal Phase 3 clinical trials for rare kidney diseases - focal segmental glomerulosclerosis (FSGS) and IgA nephropathy (IgAN). The DUPLEX Study in FSGS and the PROTECT Study in IgAN are both positioned for topline readouts from the proteinuria endpoints next year. Travere Therapeutics recently expanded its promising pipeline with the addition of OT-58, now called TVT-058, an investigational human enzyme replacement therapy in Phase 1/2 development for the treatment of classical homocystinuria. Travere Therapeutics continues to partner with leaders in patient advocacy and the National Institutes of Health on early research in rare metabolic and hepatic conditions - NGLY1 deficiency and Alagille syndrome.
As part of its commitment to patient communities, Travere Therapeutics supports the Children’s National Rare Disease Institute’s efforts to improve access and establish global best practices in diagnosing and treating rare diseases. It recognizes the needs of caregivers by collaborating with the National Organization of Rare Disorders to launch and support the Rare Caregiver Respite Program.
The Company leads efforts to make health equity a priority, particularly among those in underrepresented communities with rare disease. Travere Therapeutics helped form and is a sponsor of the Rare Disease Diversity Coalition, led by the Black Women’s Health Imperative, to address disparities in the healthcare system, access issues, education and affordability. In addition, it worked with the EveryLife Foundation to create their first-ever Diversity Inclusion Advocacy Fellowship for Rare Diseases.
Along with the new name, the Company has adopted a new logo and changed its corporate website. Please visit www.travere.com to learn more.
About Travere Therapeutics
At Travere Therapeutics we are in rare for life. We are a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, we know the need for treatment options is urgent – that is why our global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, we continuously seek to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope – today and tomorrow. For more information, visit travere.com
Forward Looking Statements
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, these statements are often identified by the words "may", "might", "believes", "thinks", "anticipates", "plans", "expects", "intends" or similar expressions. In addition, expressions of our strategies, intentions or plans are also forward-looking statements. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company’s business and finances in general, success of its commercial products as well as risks and uncertainties associated with the Company's preclinical and clinical stage pipeline. Specifically, the Company faces risks associated with market acceptance of its commercial products including efficacy, safety, price, reimbursement and benefit over competing therapies. The risks and uncertainties the Company faces with respect to its preclinical and clinical stage pipeline include risk that the Company's clinical candidates will not be found to be safe or effective and that current clinical trials will not proceed as planned. Specifically, the Company faces the risk that the Phase 3 clinical trial of sparsentan in FSGS will not demonstrate that sparsentan is safe or effective or serve as a basis for accelerated approval of sparsentan as planned; risk that the Phase 3 clinical trial of sparsentan in IgAN will not demonstrate that sparsentan is safe or effective or serve as the basis for accelerated approval of sparsentan as planned; and for each of its development programs, risk associated with enrollment of clinical trials for rare diseases and risk that ongoing clinical trials may not proceed on expected timelines or may be delayed for safety, regulatory or other reasons and risk that the product candidates will not be approved for efficacy, safety, regulatory or other reasons. The Company faces risk that it will be unable to raise additional funding that may be required to complete development of any or all of its product candidates; risk relating to the Company's dependence on contractors for clinical drug supply and commercial manufacturing; uncertainties relating to patent protection and exclusivity periods and intellectual property rights of third parties; risks associated with regulatory interactions; and risks and uncertainties relating to competitive products, including potential generic competition with certain of the Company’s products, and technological changes that may limit demand for the Company's products. You are cautioned not to place undue reliance on these forward-looking statements as there are important factors that could cause actual results to differ materially from those in forward-looking statements, many of which are beyond our control. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Investors are referred to the full discussion of risks and uncertainties as included in the Company's most recent Form 10-Q, Form 10-K and other filings with the Securities and Exchange Commission.
Chris Cline, CFA
Senior Vice President, Investor Relations & Corporate Communications
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77722810-42db-4d6f-b926-dda768e58504