Updated
The most significant concentration Travere Therapeutics discloses is FILSPARI, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Travere Therapeutics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'generate significant product revenues...will depend almost entirely on our ability to successfully commercialize our products in the United States, including FILSPARI (sparsentan)'”
“10-K Item 1A: 'rely on third-party manufacturers who are currently sole source suppliers for manufacturing of FILSPARI and Thiola'”
“10-K Item 1: 'If approved, FILSPARI could become the first and only FDA-approved medicine indicated for FSGS'”
“10-K Item 1: 'We are conducting a pivotal Phase 3 study to support the potential approval of pegtibatinase as the first disease modifying therapy for HCU'”
The company's concentration profile is dominated by product and supply-chain exposures at the commercial and development stage, with both reaching a high disclosed size. Revenue generation depends almost entirely on the ability to successfully commercialize FILSPARI and other products in the United States, a high-share mixed exposure: the commercial footprint exists but remains narrow, making any disruption to the lead franchise directly consequential for total revenues. The structural side of that same claim is that the company's entire commercial model is built around rare kidney disease indications, which limits revenue diversification by design rather than by accident. Compounding the product concentration is a high-share supply dependency: FILSPARI and Thiola both rely on third-party manufacturers who are currently sole-source suppliers. There is no disclosed backup manufacturing arrangement, meaning a disruption at either sole-source supplier would affect the company's ability to supply its marketed products. The pipeline adds two medium-share structural concentrations: a supplemental NDA for sparsentan in FSGS and a pivotal Phase 3 study for pegtibatinase in HCU, each representing a single-program bet on FDA approval. On balance, the profile reflects the typical narrow footprint of a specialty rare-disease company at an early commercial stage — product, pipeline, and supply concentrations all reinforce each other and together represent the dominant risk surface worth monitoring.
For the engine’s reasoning on TVTX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| TVTX● | Travere Therapeutics, Inc. | 2 | 2 | 0 | 4 |
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ACLX | Arcellx, Inc. | 1 | 1 | 0 | 2 |
| AGIO | Agios Pharmaceuticals, Inc. | 1 | 0 | 0 | 1 |
| ALMS | Alumis Inc. | 1 | 0 | 0 | 1 |
| ADMA | ADMA Biologics Inc | 0 | 1 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.