Travere Therapeutics, Inc. (TVTX) shares surged 7.18% over the past 24 hours, driven by the company's strong second-quarter financial results that exceeded analyst expectations on the back of surging demand for its kidney disease drug, FILSPARI.

The company reported quarterly adjusted earnings of 6 cents per share, significantly outperforming the consensus estimate of a 14-cent loss per share. Total net product sales climbed 70% year-over-year to $161.35 million, with FILSPARI U.S. net product sales jumping 96% compared to the same period last year. The growth was fueled by the continued expansion of FILSPARI in IgA nephropathy (IgAN) and the early launch of the drug for focal segmental glomerulosclerosis (FSGS).

While Travere posted a net loss of $34.8 million, or $0.37 per share, the figure included a $40 million inducement expense related to convertible note repurchases. Investors shrugged off the GAAP loss and focused on the strong commercial trajectory for FILSPARI, as the drug's robust sales growth and the broader revenue beat emerged as the primary catalysts sending the stock higher in post-market trading.