Travere Therapeutics (TVTX) unusual buy of 1500 August $25 calls for $2.30, a $1.5B Biotech. Travere currently has a base commercial business that generated $200M in revenue in FY21 along with a development pipeline led by potential blockbuster sparsentan positioned to potentially dominate in IgA nephropathy and focal segmental glomerulosclerosis. Canaccord sees sparsentan is positioned to become the new standard of care for IgAN and FSGS and models combined peak U.S. sales of about $1.4B by 2032. TVTX’s PDUFA is 11-17-22