Travere Therapeutics, Inc. (TVTX) stock surged 11.3% in after-hours trading following the release of the company's second-quarter financial results, which highlighted robust demand for its kidney disease drug, FILSPARI.

Total net product sales for the quarter reached $161.352 million, representing a 70% increase year-over-year. The standout performer was FILSPARI, with U.S. net product sales climbing 96% year-over-year. This growth was fueled by the continued expansion in IgA nephropathy (IgAN) and the early launch of the drug for focal segmental glomerulosclerosis (FSGS).

The company reported a net loss of $34.8 million, or $0.37 per share, which included a $40 million inducement expense related to convertible note repurchases. Despite the net loss, the significant sales beat and the strong commercial trajectory for FILSPARI appear to be the primary catalysts driving the positive investor sentiment in the extended session.