New York, January 6, 2026, 15:27 (ET) — Regular session
Nasdaq-listed Travere Therapeutics shares fell 5.3% to $36.09 in afternoon trading on Tuesday as investors looked toward next week’s U.S. FDA decision deadline on expanding its kidney drug Filspari (sparsentan) into focal segmental glomerulosclerosis. The FDA’s Prescription Drug User Fee Act, or PDUFA, target action date is Jan. 13, and the stock has ranged from $34.88 to $39.16 in the session.
The case matters for Travere because FSGS is a rare disease that scars the kidney’s filtering units and can progress to kidney failure. An added label would broaden Filspari’s commercial opportunity, while an adverse decision would likely delay growth and shift attention back to spending and cash runway.
Travere said on Monday that Chief Executive Eric Dube will present at the J.P. Morgan Healthcare Conference on Jan. 12, an investor-heavy venue where drugmakers often face pointed questions on launches and regulatory timelines. The company said it will webcast the presentation and post a replay.
In a separate securities filing, Chief Medical Officer Jula Inrig disclosed a planned sale of 15,000 shares, with an aggregate market value of about $630,000, in a “sell-to-cover” tied to vested restricted stock units, a common form of equity pay. The filing said the transaction was required to meet tax-withholding obligations and “does not represent a discretionary trade.” SEC
Options trading has also turned active into the FDA date. TVTX options volume on Monday included heavy activity in $35 strike puts expiring Jan. 16 — contracts that give holders the right to sell shares at a set price, often used as downside insurance.
Travere is a rare-disease drugmaker focused on kidney and metabolic conditions, with Filspari among its key products. The company also markets Thiola and Thiola EC for cystinuria, a genetic disorder that can cause recurring kidney stones.
Technicians also point to wide reference points after the stock’s recent run. TVTX has a 52-week range of $12.91 to $42.13, with the 50-day moving average near $34.56, according to Yahoo Finance data.
The risk is binary. The FDA can issue a complete response letter — a formal rejection that typically lays out what data is missing — which would delay any label expansion and could force a reset of investor expectations.
