Insider Trading Tue 9/26/23

Notable purchases -- CEO adds to MEI; notable sales -- 10% owner active in AONC

Buyers:

• MEI Chief Executive Officer bought 23,245 shares at $21.56 to $22.56 worth ~$507K.
• CURV Chief Commercial Officer bought 225,000 shares at ~$1.3312 worth ~$300K.
• MPAA 10% owner Bison Capital bought 50,000 shares at $7.49 - $7.50 worth ~$375K.
• LGND CEO bought 4,000 shares at $58.975 - $59.93 worth ~$238K.
• SPRY Director bought 2,700,000 shares at $2.75 - $3.90 worth ~$8.2 mln.

Sellers:

• AONC 10% owner Saba Capital sold 205,512 shares at $10.50 worth ~$2.2 mln.
• IMKTA Director sold 4,000 shares at $75.50 - $76.50 worth ~$304K.
• TZOO 10% owner Azzurro Capital sold 46,148 shares at $6.10 - $6.24 worth ~$285K.

===Travere Therapeutics (TVTX) kidney-disease treatment has mixed results in trial

Travere Therapeutics Inc. released data from a late-stage study of Filspari in IgA nephropathy, a rare kidney disease. In a head-to-head study versus irbesartan, Filspari fell short of producing a statistically significant difference by one measure of kidney function, although patients on the treatment had some of the slowest annual rates of kidney function decline seen in IgA nephropathy clinical trials, Travere said in a release. 

 

Travere Therapeutics Announces Confirmatory Data from the Phase 3 PROTECT Study of FILSPARI Demonstrating Long-Term Kidney Function Preservation in IgA Nephropathy; Narrowly Missing eGFR Total Slope Endpoint versus Active Control, Irbesartan 

SAN DIEGO, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Travere Therapeutics, Inc. (Nasdaq: TVTX) today announced topline two-year confirmatory secondary endpoint results from the Company's pivotal head-to-head Phase 3 PROTECT Study of FILSPARI (sparsentan) in IgA nephropathy (IgAN) versus irbesartan. FILSPARI demonstrated long-term kidney function preservation and achieved a clinically meaningful difference in estimated glomerular filtration rate (eGFR) total and chronic slope versus irbesartan, narrowly missing statistical significance in eGFR total slope while achieving statistical significance in eGFR chronic slope for purposes of regulatory review in the EU. FILSPARI is currently available under accelerated approval in the U.S. The Company will engage with regulators and expects to submit a supplemental New Drug Application (sNDA) in 1H 2024 for full approval in the U.S.

Ligand Pharma (LGND) announces that its partner Travere Therapeutics (TVTX) released topline, two-year confirmatory secondary endpoint results from its pivotal, head-to-head Phase 3 PROTECT Study of FILSPARI in IgA nephropathy versus irbesartan 

• FILSPARI demonstrated long-term kidney function preservation and achieved a clinically meaningful difference in estimated glomerular filtration rate total and chronic slope versus irbesartan, narrowly missing statistical significance in eGFR total slope while achieving statistical significance in eGFR chronic slope for purposes of regulatory review in the EU. FILSPARI is currently available under accelerated approval in the U.S. Travere will engage with regulators and expects to submit a supplemental New Drug Application in 1H 2024 for full approval in the U.S.
  
• Under Ligand's license agreement with Travere for FILSPARI, Ligand is entitled to receive net royalties of 9% on global net product sales of FILSPARI.