Tra­vere plans to lay off 20% of work­force as it fo­cus­es on full ap­proval for kid­ney dis­ease drug

Tra­vere Ther­a­peu­tics is lay­ing off about 20% of its em­ploy­ees in or­der to ex­tend its cash run­way in­to 2028 with a mis­sion to con­vert Filspari to a full ap­proval in IgA nephropa­thy and con­duct more analy­ses of its Phase III tri­al for the same drug in an­oth­er kid­ney dis­or­der.

The com­pa­ny said Mon­day that the lay­offs would have an es­ti­mat­ed an­nu­al­ized sav­ings of ap­prox­i­mate­ly $25 mil­lion be­gin­ning next year, along with its cur­rent $634.6 mil­lion in cash and cash equiv­a­lents. In SEC fil­ings, Tra­vere said it had 462 full-time em­ploy­ees as of Jan. 31 this year.

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