RTTNews | Aug 16, 2021 01:10PM EDT

13:10 Monday, August 16, 2021 (RTTNews.com) - California-based pharmaceutical company Travere Therapeutics, Inc. (TVTX) is up 13% in the Monday market after the company reported a successful positive result in phase three PROTECT study in IgA Nephropathy.

According to the company report on Monday, their present subject of the study, Sparsentan was three times more effective in reducing proteinuria than existing product irbesartan in research spanning 36 weeks.

The company is ready to apply for approval by the FDA and it will also apply for conditional marketing in Europe.

The CEO of the company, Dr. Eric Dube said "IgAN is a leading cause of end-stage kidney disease and there is a clear need for novel treatment options to slow the progression of this devastating rare kidney disorder."

The shares are currently trading at $17.45, up $2.00 or 12.94% from their previous close at $15.45 on Friday. The shares opened at $20.57 in the morning and in the 52-week period, the shares have ranged between $12.75 and $33.09.

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