Theravance Bioph Stock Price, News & Analysis

Theravance Biopharma reported Q1 2023 financial results and business updates. Key highlights include:

- YUPELRI net sales of $47.0 million, up 8% year-over-year

- YUPELRI retail new patient starts and total prescriptions up 61% and 29% respectively, reaching all-time highs

- CYPRESS Phase 3 study of ampreloxetine actively recruiting

- On track to complete $325 million capital return program by year-end; $215 million of share repurchases completed through 4/30/23

- Q1 2023 total revenue was $10.4 million, primarily from Viatris collaboration

- Net loss from continuing operations was $22.1 million in Q1 2023

- Cash, cash equivalents and marketable securities totaled $260.0 million as of March 31, 2023

The company expects full year 2023 R&D expense of $35-45 million and SG&A expense of $45-55 million, and anticipates generating non-GAAP profit in 2H 2023.

Theravance Biopharma (NASDAQ: TBPH) is set to announce its first quarter 2023 financial results on May 8, 2023, after market close. The announcement will be followed by a conference call at 5:00 pm ET, providing insights into the company’s business developments and performance metrics. Following the call, a replay will be accessible for 30 days until June 7, 2023. The company focuses on delivering innovative treatments, including its FDA-approved medication for COPD and a late-stage investigational drug for neurogenic orthostatic hypotension. The aim is to enhance shareholder value through its continuous development efforts.

Irenic Capital Management, a significant shareholder of Theravance Biopharma (NASDAQ: TBPH), expressed support for the recent appointment of Jim Kelly to the Board of Directors. Irenic believes Kelly will provide a key shareholder perspective that is essential for the boardroom. The firm commended Theravance for its efforts to enhance capital allocation, including expanding the capital return program and a proposal to declassify the Board. Irenic urged the Board to take further steps, such as reviewing strategic alternatives, accelerating the capital return program, and ensuring directors are elected on a one-year term. The emphasis remains on improving governance and value creation for shareholders.

Theravance Biopharma has appointed Jim Kelly, Managing Director at Weiss Asset Management and the Company's second largest shareholder, to its Board of Directors. This appointment is part of an ongoing board refreshment strategy, which has seen four new directors join since 2018. CEO Rick E Winningham emphasized Kelly's investment experience and understanding of the healthcare industry as valuable assets for the board. Kelly expressed commitment to leveraging his experience for the Company's success and shareholder returns. Weiss Asset Management manages approximately $3 billion in assets and has been a significant shareholder since 2021. Theravance focuses on developing impactful medicines, including the FDA-approved YUPELRI for COPD treatment and the investigational drug Ampreloxetine for neurogenic orthostatic hypotension.

Theravance Biopharma (NASDAQ: TBPH) will present at the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 3:45 pm ET. The event will be accessible via webcast on Theravance.com in the Investors section.

Theravance Biopharma focuses on delivering innovative medicines, notably the FDA-approved YUPELRI (revefenacin) inhalation solution for chronic obstructive pulmonary disease (COPD). Additionally, the company is developing Ampreloxetine, a potential first-in-class norepinephrine reuptake inhibitor aimed at treating neurogenic orthostatic hypotension.

For further details about the conference and the company’s developments, visit www.theravance.com.

Theravance Biopharma (NASDAQ: TBPH) will participate in the 43rd Annual TD Cowen Health Care Conference on March 8, 2023, at 10:30 am ET. The event will include a Respiratory/Infections Corporate Panel Discussion.

The conference will be accessible via webcast on Theravance.com, where a replay will be available for 30 days. Theravance Biopharma is known for its FDA-approved YUPELRI® inhalation solution for COPD and is developing Ampreloxetine, targeting neurogenic orthostatic hypotension. The firm's commitment is towards improving patient lives and increasing shareholder value.

Theravance Biopharma (TBPH) has announced significant strategic moves, including increasing its capital return program from $250 million to $325 million. As of February 27, 2023, approximately $170 million remains in this program. The company reported $19.5 million in YUPELRI® sales for Q4 2022, a 27% year-over-year increase, marking its strongest quarter. Additionally, Theravance will discontinue research investments and reduce headcount by 17% to focus resources on the ampreloxetine Phase 3 study. The company reaffirmed its guidance for non-GAAP profitability in the second half of 2023.

Irenic Capital Management, a major shareholder of Theravance Biopharma (NASDAQ: TBPH), criticized the company's leadership and called for strategic changes. Since its separation in 2014, Theravance's total shareholder return has plummeted by -50%, reflecting a significant discount in its market value. Irenic proposed actions such as returning $300 million in excess cash to shareholders, reducing operational costs, and improving governance by appointing a shareholder representative. They estimate that adopting these measures could unlock nearly $21 per share in value, substantially higher than its current trading price of $9.87.