What drove TVTX's earnings growth in 2024?

Travere Therapeutics Inc (TVTX) experienced notable revenue growth driven by several key factors:

1. **Commercial Launch of FILSPARI**: The ongoing commercial launch of FILSPARI significantly contributed to the revenue growth. Net product sales for FILSPARI were reported at $52.2 million in Q2 2024, up from $29.5 million in the same period of 2023. This growth is a testament to the robust demand for the product and the effective execution by the commercial team.
2. **Strategic Restructuring and Cost Management**: Travere Therapeutics implemented restructuring initiatives and cost-saving measures, which are reflected in the reduced Research and Development (R&D) and Selling, General and Administrative (SG&A) expenses. R&D expenses decreased to $54.3 million from $66.5 million in Q2 2023, and SG&A expenses reduced to $64.8 million from $68.2 million in the same period last year. These efforts have contributed to the net loss narrowing despite the revenue growth.
3. **Global Expansion and Clinical Development**: The company's global expansion efforts, including the preparation for the European launch of FILSPARI by CSL Vifor and the registrational trial in Japan by Renalys Pharma, are expected to further drive revenue growth. The initiation of the Phase three HARMONY study and the successful submission to the FDA for priority review are also positive indicators for future growth.

In summary, the commercial success of FILSPARI, strategic restructuring, and focused cost management have been the primary drivers of Travere Therapeutics' earnings growth in 2024.