Theravance Biopharma, Inc. Reports First Quarter 2025 Financial Results and Provides Corporate Update
Theravance Biopharma (TBPH) reported its Q1 2025 financial results, highlighting strong performance across key products. YUPELRI achieved US net sales of $58.3 million, up 6% year-over-year, with notable 48% growth in hospital channel doses. TRELEGY posted global net sales of $854 million, representing a 14% increase from Q1 2024.
The company reported total revenue of $15.4 million and a net loss of $13.6 million. Quarter-end cash balance stood at $130.9 million with no debt. R&D expenses were $11.5 million, while SG&A expenses reached $18.4 million.
The CYPRESS study for ampreloxetine, targeting neurogenic orthostatic hypotension in MSA patients, is nearing completion with final patient enrollment expected by late summer. The company's Strategic Review Committee continues to evaluate alternatives to enhance shareholder value.
Theravance Biopharma (TBPH) ha riportato i risultati finanziari del primo trimestre 2025, evidenziando una solida performance dei prodotti chiave. YUPELRI ha raggiunto vendite nette negli Stati Uniti per 58,3 milioni di dollari, con un aumento del 6% rispetto all'anno precedente, grazie a una crescita significativa del 48% nelle dosi distribuite negli ospedali. TRELEGY ha registrato vendite nette globali per 854 milioni di dollari, con un incremento del 14% rispetto al primo trimestre del 2024.
L'azienda ha riportato un fatturato totale di 15,4 milioni di dollari e una perdita netta di 13,6 milioni di dollari. La liquidità a fine trimestre ammontava a 130,9 milioni di dollari senza debiti. Le spese per ricerca e sviluppo sono state di 11,5 milioni di dollari, mentre le spese per vendite, generali e amministrative hanno raggiunto 18,4 milioni di dollari.
Lo studio CYPRESS sull'ampreloxetine, indirizzato all'ipotensione ortostatica neurogena nei pazienti con MSA, è prossimo al completamento, con l'ultima fase di arruolamento pazienti prevista entro la fine dell'estate. Il Comitato di Revisione Strategica dell'azienda continua a valutare alternative per aumentare il valore per gli azionisti.
Theravance Biopharma (TBPH) presentó sus resultados financieros del primer trimestre de 2025, destacando un sólido desempeño en sus productos clave. YUPELRI alcanzó ventas netas en EE.UU. de
La compañía reportó ingresos totales de 15,4 millones de dólares y una pérdida neta de 13,6 millones de dólares. El saldo de efectivo al cierre del trimestre fue de 130,9 millones de dólares sin deuda. Los gastos en I+D fueron de 11,5 millones de dólares, mientras que los gastos de ventas, generales y administrativos alcanzaron los 18,4 millones de dólares.
El estudio CYPRESS sobre ampreloxetina, dirigido a la hipotensión ortostática neurogénica en pacientes con MSA, está cerca de completarse, con la inscripción final de pacientes prevista para finales del verano. El Comité de Revisión Estratégica de la compañía continúa evaluando alternativas para mejorar el valor para los accionistas.
Theravance Biopharma(TBPH)는 2025년 1분기 재무 실적을 발표하며 주요 제품들의 강력한 성과를 강조했습니다. YUPELRI는 미국 내 순매출 5,830만 달러를 기록하며 전년 동기 대비 6% 증가했고, 병원 채널 투여량은 48% 크게 성장했습니다. TRELEGY는 전 세계 순매출 8억 5,400만 달러로 2024년 1분기 대비 14% 증가했습니다.
회사는 총 매출 1,540만 달러와 순손실 1,360만 달러를 보고했습니다. 분기 말 현금 잔액은 1억 3,090만 달러였으며 부채는 없습니다. 연구개발비는 1,150만 달러, 판매관리비는 1,840만 달러에 달했습니다.
다발성계통위축증(MSA) 환자의 신경성 기립성 저혈압을 목표로 하는 암프레록세틴의 CYPRESS 연구가 거의 완료 단계에 있으며, 최종 환자 등록은 늦여름까지 완료될 예정입니다. 회사의 전략 검토 위원회는 주주 가치를 높이기 위한 대안을 계속 평가하고 있습니다.
Theravance Biopharma (TBPH) a publié ses résultats financiers du premier trimestre 2025, mettant en avant une performance solide de ses produits clés. YUPELRI a réalisé des ventes nettes aux États-Unis de 58,3 millions de dollars, en hausse de 6 % par rapport à l'année précédente, avec une croissance notable de 48 % des doses dans le circuit hospitalier. TRELEGY a enregistré des ventes nettes mondiales de 854 millions de dollars, soit une augmentation de 14 % par rapport au premier trimestre 2024.
La société a déclaré un chiffre d'affaires total de 15,4 millions de dollars et une perte nette de 13,6 millions de dollars. La trésorerie à la fin du trimestre s'élevait à 130,9 millions de dollars sans dette. Les dépenses de R&D se sont élevées à 11,5 millions de dollars, tandis que les frais SG&A ont atteint 18,4 millions de dollars.
L'étude CYPRESS sur l'ampreloxetine, ciblant l'hypotension orthostatique neurogène chez les patients atteints de MSA, est proche de son achèvement, avec un dernier recrutement de patients attendu d'ici la fin de l'été. Le Comité d'examen stratégique de la société continue d'évaluer des alternatives pour augmenter la valeur pour les actionnaires.
Theravance Biopharma (TBPH) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und hob die starke Leistung bei wichtigen Produkten hervor. YUPELRI erzielte in den USA Nettoumsätze von 58,3 Millionen US-Dollar, ein Plus von 6 % im Jahresvergleich, mit bemerkenswertem Wachstum von 48 % bei Hospitaldosen. TRELEGY verzeichnete weltweite Nettoumsätze von 854 Millionen US-Dollar, was einer Steigerung von 14 % gegenüber dem ersten Quartal 2024 entspricht.
Das Unternehmen meldete einen Gesamtumsatz von 15,4 Millionen US-Dollar und einen Nettoverlust von 13,6 Millionen US-Dollar. Der Kassenbestand zum Quartalsende betrug 130,9 Millionen US-Dollar ohne Schulden. Die F&E-Ausgaben lagen bei 11,5 Millionen US-Dollar, während die Vertriebs-, Verwaltungs- und Gemeinkosten 18,4 Millionen US-Dollar erreichten.
Die CYPRESS-Studie zu Ampreloxetin, das auf neurogene orthostatische Hypotonie bei MSA-Patienten abzielt, steht kurz vor dem Abschluss, die endgültige Patienteneinschreibung wird bis Spätsommer erwartet. Das Strategische Überprüfungskomitee des Unternehmens bewertet weiterhin Alternativen zur Steigerung des Aktionärswerts.
- YUPELRI sales grew 6% YoY to $58.3M with strong 48% growth in hospital channel
- TRELEGY sales increased 14% YoY to $854M
- Strong cash position of $130.9M with zero debt
- Company reaffirmed all financial guidance metrics
- Net loss increased to $13.6M from $11.7M in Q1 2024
- R&D expenses increased 28% YoY to $11.5M
- SG&A expenses rose 10% YoY to $18.4M
Insights
Theravance shows solid product revenue growth but faces widening operational losses and increased expenses while advancing clinical development and strategic review.
Theravance Biopharma's Q1 2025 results reveal a company with successful commercial partnerships but ongoing financial challenges. YUPELRI's $58.3 million in net sales represents a
Meanwhile, TRELEGY (marketed by GSK) continues its impressive trajectory with
On the clinical front, the CYPRESS study for ampreloxetine in multiple system atrophy patients with neurogenic orthostatic hypotension is nearing enrollment completion, with results expected approximately six months after the final patient is enrolled. This represents a significant near-term catalyst.
However, the financial picture shows increasing costs affecting bottom-line performance. R&D expenses rose to
The company maintains a solid cash position of
The Strategic Review Committee, formed in November 2024, continues to evaluate alternatives to unlock shareholder value, though no specific details or timelines were provided regarding potential outcomes of this process.
- YUPELRI® (revefenacin) net sales of
$58.3 million 6% versus Q1 20241 - TRELEGY net sales of
$854M 14% versus Q1 20242 - CYPRESS study open label enrollment nearing completion with final patient expected to be enrolled by late summer
- Quarter-end cash balance of
$131 million - Reaffirming all financial guidance metrics
"As we begin the year, we remain focused on delivering against our operational priorities for YUPELRI and ampreloxetine," said Rick E Winningham, CEO of Theravance Biopharma. "Our commercial partnership with Viatris delivered solid YUPELRI sales growth, aided by a strong performance in the hospital setting. TRELEGY delivered another excellent quarter and our clinical team advanced CYPRESS enrollment, which is now nearing completion. Our interactions with the MSA community continue to highlight the urgent need for new treatments for symptomatic nOH and ampreloxetine's potentially significant value to patients, caregivers and providers, underpinning our motivation to complete CYPRESS enrollment and share our results."
First Quarter Operational Highlights
YUPELRI® (revefenacin) inhalation solution, the first and only once-daily, nebulized LAMA (long-acting muscarinic antagonist) bronchodilator approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD):
- Achieved total US net sales of
$58.3 million 6% year-over-year (Q1 2025 vs Q1 2024).1 - Grew customer demand
5% for the quarter (Q1 2025 vs Q1 2024).3 - Increased doses pulled through the hospital channel by
48% year-over-year (Q1 2025 vs Q1 2024), reflecting another quarter of strong momentum.4
Ampreloxetine, an investigational, once-daily norepinephrine reuptake inhibitor in development for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA):
- CYPRESS study open label enrollment nearing completion with final patient expected to be enrolled by late summer; top-line data anticipated ~6 months later.
- In April, presented data at American Academy of Neurology 2025 Annual Meeting:
- Analyses of prior Phase 3 program highlighted expected pharmacodynamic blood pressure effects, with no worsening of supine hypertension.
- Two abstracts accepted for presentation at the International MSA Congress in
Boston May 9-11, including a "late breaking" oral presentation of ampreloxetine's benefits in the prespecified MSA subgroup of Study 0170.
TRELEGY Update:
GSK posted first quarter 2025 global net sales of
- FY 2025 global net sales of
~ (representing minus$3.41 billion 1% growth vs. 2024) required to trigger$50M - FY 2026 global net sales of
~ (representing$3.51 billion 2% growth vs. 2024) required to trigger$100M - Royalties of up to
8.5% on TRELEGY net sales return to Theravance Biopharma in eligible territories beginning mid-2029, a significant driver of long-term value.2
First Quarter Financial Results
- Revenue: Total revenue for the first quarter of 2025 was
$15.4 million $0.9 million 6% , in the first quarter compared to the same period in 2024. The Viatris collaboration revenue represents amounts receivable from Viatris and comprises the Company's35% share of net sales of YUPELRI, as well as its proportionate amount of the total shared commercial costs incurred by the two companies. The non-shared YUPELRI costs incurred by Theravance Biopharma are recorded within operating expenses. While Viatris records the total net sales of YUPELRI within its financial statements, Theravance Biopharma's implied35% share of net sales of YUPELRI for the first quarter of 2025 was$20.4 million 6% increase compared to the same period in 2024. - Research and Development (R&D) Expenses: R&D expenses for the first quarter of 2025 were
$11.5 million $9.0 million $1.1 million - Selling, General and Administrative (SG&A) Expenses: SG&A expenses for the first quarter of 2025 were
$18.4 million $16.7 million $3.8 million - Share-Based Compensation: Share-based compensation expenses for the first quarter of 2025 were
$4.9 million $5.2 million $1.1 million $3.8 million $1.5 million $3.7 million - Net Loss and Non-GAAP Net Loss from Operations5: Net loss was
$13.6 million $11.7 million $8.6 million $4.5 million - Cash Position: Cash, cash equivalents and marketable securities totaled
$130.9 million
Strategic Review Committee
Theravance Biopharma announced on November 12, 2024, that the Board of Directors had formed a Strategic Review Committee (the "Committee") composed entirely of independent directors to assess all strategic alternatives available to the Company. The Committee is continuing to evaluate a range of alternatives with the objective of unlocking shareholder value. Until this review is complete, we are not in a position to provide additional details on the review process.
2025 Financial Guidance
- Operating Expenses (excluding share-based compensation): The Company continues to expect full year 2025 R&D expenses of
$32 million $38 million $50 million $60 million - Share-Based Compensation: The Company continues to expect full year share-based compensation expenses of
$18 million $20 million - Non-GAAP Loss from Operations and Cash Burn5: The Company continues to expect 2025 levels of Non-GAAP Losses from Operations and Cash Burn in 2025 to be similar to levels incurred in 2024.
Conference Call and Live Webcast Today at 5:00 pm ET
Theravance Biopharma will hold a conference call and live webcast accompanied by slides today at 5:00 pm ET / 2:00 pm PT / 10:00 pm GMT. To participate in the live call by telephone, please dial (800) 715-9871 from the US or (646) 307-1963 for international callers, using the Conference ID 3369474. Those interested in listening to the conference call live via the internet may do so by visiting Theravance Biopharma's website at www.theravance.com, under the Investors section, Presentations and Events.
A replay of the webcast will be available on Theravance Biopharma's website for 30 days through June 7, 2025.
About Ampreloxetine
Ampreloxetine, an investigational, once-daily norepinephrine reuptake inhibitor in development for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA). The unique benefits of ampreloxetine treatment reported in MSA patients from Study 0170 included an increase in norepinephrine levels, a favorable impact on blood pressure, clinically meaningful and durable symptom improvement, and no signal for worsening of supine hypertension. In the US, the Company has been granted an Orphan Drug Designation for ampreloxetine for the treatment of symptomatic nOH in patients with MSA and, if results from the ongoing Phase 3 CYPRESS study are supportive, plans to file an NDA for full approval in this indication.
About CYPRESS (Study 0197), a Phase 3 Study
Study 0197 (NCT05696717) is currently enrolling. This is a registrational Phase 3, multi-center, randomized withdrawal study to evaluate the efficacy and durability of ampreloxetine in participants with MSA and symptomatic nOH after 20 weeks of treatment; the primary endpoint of the study is change in the Orthostatic Hypotension Symptom Assessment (OHSA) composite score. The Study includes four periods: screening, open label (12-week period, participants will receive a single daily 10 mg dose of ampreloxetine), randomized withdrawal (eight-week period, double-blind, placebo-controlled, participants will receive a single daily 10 mg dose of placebo or ampreloxetine), and a long-term treatment extension. Secondary outcome measures include change from baseline in Orthostatic Hypotension Daily Activity Scale (OHDAS) item 1 (activities that require standing for a short time) and item 3 (activities that require walking for a short time).
About Multiple System Atrophy (MSA) and Symptomatic Neurogenic Orthostatic Hypotension (nOH)
MSA is a progressive brain disorder that affects movement and balance and disrupts the function of the autonomic nervous system. The autonomic nervous system controls body functions that are mostly involuntary. One of the most frequent autonomic symptoms associated with MSA is a sudden drop in blood pressure upon standing (nOH).6 There are approximately 50,000 MSA patients in the US7 and 70
Neurogenic orthostatic hypotension (nOH) is a rare disorder defined as a fall in systolic blood pressure of ⩾20 mm Hg or diastolic blood pressure of ⩾10 mm Hg, within 3 minutes of standing. Severely affected patients are unable to stand for more than a few seconds because of their decrease in blood pressure, leading to cerebral hypoperfusion and syncope. A debilitating condition, nOH results in a range of symptoms including dizziness, lightheadedness, fainting, fatigue, blurry vision, weakness, trouble concentrating, and head and neck pain.
About Theravance Biopharma
Theravance Biopharma, Inc.'s focus is to deliver Medicines that Make a Difference® in people's lives. In pursuit of its purpose, Theravance Biopharma leverages decades of expertise, which has led to the development of FDA-approved YUPELRI® (revefenacin) inhalation solution indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD). Ampreloxetine, its late-stage investigational once-daily norepinephrine reuptake inhibitor in development for symptomatic neurogenic orthostatic hypotension (nOH) in patients with Multiple System Atrophy (MSA), has the potential to be a first in class therapy effective in treating a constellation of cardinal symptoms in MSA patients. The Company is committed to creating/driving shareholder value.
For more information, please visit www.theravance.com.
THERAVANCE BIOPHARMA®, THERAVANCE® and the Cross/Star logo are registered trademarks of the Theravance Biopharma group of companies (in the U.S. and certain other countries).
YUPELRI® is a registered trademark of Mylan Specialty L.P., a Viatris company. Trademarks, trade names or service marks of other companies appearing in this press release are the property of their respective owners.
Forward-Looking Statements
This press release and the conference call will contain certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, expectations, and future events. Theravance Biopharma intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Examples of such statements include statements relating to: the Company's expectations regarding its future profitability, expenses and uses of cash, the Company's goals, designs, strategies, plans, potential, and objectives, future growth of YUPELRI sales, future milestone and royalty payments, the ability to provide value to shareholders, the Company's regulatory strategies and timing of clinical studies, potential or possible safety, efficacy or differentiation of our investigational therapy, the status of patent infringement litigation initiated by the Company and its partner against certain generic companies in federal district courts; contingent payments due to the Company from the sale of the Company's TRELEGY ELLIPTA royalty interests to Royalty Pharma, and expectations around the use of OHSA scores as endpoints for clinical trials. These statements are based on the current estimates and assumptions of the management of Theravance Biopharma as of the date of this press release and the conference call and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Theravance Biopharma to be materially different from those reflected in the forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to: factors that could increase the Company's cash requirements or expenses beyond its expectations and any factors that could adversely affect its profitability, whether the milestone thresholds can be achieved, delays or difficulties in commencing, enrolling or completing clinical studies, the potential that results from clinical or non-clinical studies indicate the Company's product candidates or product are unsafe, ineffective or not differentiated, risks of decisions from regulatory authorities that are unfavorable to the Company, dependence on third parties to conduct clinical studies, delays or failure to achieve and maintain regulatory approvals for product candidates, risks of collaborating with or relying on third parties to discover, develop, manufacture and commercialize products, and risks associated with establishing and maintaining sales, marketing and distribution capabilities with appropriate technical expertise and supporting infrastructure, the ability of the Company to protect and to enforce its intellectual property rights, volatility and fluctuations in the trading price and volume of the Company's shares, and general economic and market conditions. Other risks affecting Theravance Biopharma are in the Company's Form 10-K filed with the SEC on March 7, 2025, and other periodic reports filed with the SEC. In addition to the risks described above and in Theravance Biopharma's filings with the SEC, other unknown or unpredictable factors also could affect Theravance Biopharma's results. No forward-looking statements can be guaranteed, and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Theravance Biopharma assumes no obligation to update its forward-looking statements on account of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
Theravance Biopharma provides a non-GAAP profitability target and a non-GAAP metric in this press release. Theravance Biopharma believes that the non-GAAP profitability target and non-GAAP net income (loss) provide meaningful information to assist investors in assessing prospects for future performance and actual performance as they provide better metrics for analyzing the performance of its business by excluding items that may not be indicative of core operating results and the Company's cash position. Because non-GAAP financial targets and metrics, such as non-GAAP profitability and non-GAAP net loss, are not standardized, it may not be possible to compare these measures with other companies' non-GAAP targets or measures having the same or a similar name. Thus, Theravance Biopharma's non-GAAP measures should be considered in addition to, not as a substitute for, or in isolation from, the Company's actual GAAP results and other targets.
Please see the appendix attached to this press release for a reconciliation of non-GAAP net loss to its corresponding measure, net loss. A reconciliation of non-GAAP net loss to its corresponding GAAP measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses and other factors in the future.
Contact:
investor.relations@theravance.com
650-808-4045
1 In the US, Viatris is leading the commercialization of YUPELRI, and the Company co-promotes the product under a profit and loss sharing arrangement ( | ||
2 GSK-reported Net Sales in USD. | ||
3 Source: Viatris Customer Demand (Q1'25). | ||
4 Source: IQVIA DDD, HDS, VA and Non-Reporting Hospital through Mar '25. | ||
5 Non-GAAP profit (loss) consists of GAAP net income (loss) before taxes less share-based compensation expense, non-cash interest expense, and non-cash impairment expense, if any. See the section titled "Non-GAAP Financial Measures" for more information. | ||
6 https://medlineplus.gov/genetics/condition/multiple-system-atrophy/ | ||
7 UCSD Neurological Institute (25K-75K, with ~10K new cases per year); NIH National Institute of Neurological Disorders and Stroke (15K-50K). | ||
8 Delveinsight MSA Market Forecast (2023); Symptoms associated with orthostatic hypotension in pure autonomic failure and multiple systems atrophy, CJ Mathias (1999). | ||
THERAVANCE BIOPHARMA, INC. | |||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||
(In thousands) | |||||
March 31, | December 31, | ||||
2025 | 2024 | ||||
Assets | (Unaudited) | (1) | |||
Current assets: | |||||
Cash and cash equivalents and short-term marketable securities | $ | 130,855 | $ | 88,350 | |
Receivables from collaborative arrangements | 15,353 | 18,440 | |||
Receivables from milestone and royalty assets | - | 50,000 | |||
Other prepaid and current assets | 4,056 | 4,277 | |||
Total current assets | 150,264 | 161,067 | |||
Property and equipment, net | 7,028 | 7,418 | |||
Operating lease assets | 27,430 | 28,354 | |||
Future contingent milestone and royalty assets | 144,200 | 144,200 | |||
Restricted cash | 836 | 836 | |||
Other assets | 13,824 | 12,286 | |||
Total assets | $ | 343,582 | $ | 354,161 | |
Liabilities and Shareholders' Equity | |||||
Current liabilities | $ | 31,502 | $ | 32,085 | |
Long-term operating lease liabilities | 37,349 | 39,108 | |||
Future royalty payment contingency | 30,977 | 30,334 | |||
Unrecognized tax benefits | 76,484 | 75,199 | |||
Other long-term liabilities | 1,287 | 1,890 | |||
Shareholders' equity | 165,983 | 175,545 | |||
Total liabilities and shareholders' equity | $ | 343,582 | $ | 354,161 | |
________________________________ | |||||
(1) The condensed consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024. | |||||
THERAVANCE BIOPHARMA, INC. | ||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
(In thousands, except per share data) | ||||||||||||
Three Months Ended March 31, | ||||||||||||
2025 | 2024 | |||||||||||
(Unaudited) | ||||||||||||
Revenue: | ||||||||||||
Viatris collaboration agreement (1) | $ | 15,388 | $ | 14,503 | ||||||||
Total revenue | 15,388 | 14,503 | ||||||||||
Costs and expenses: | ||||||||||||
Research and development (2) | 11,452 | 8,968 | ||||||||||
Selling, general and administrative (2) | 18,370 | 16,742 | ||||||||||
Total costs and expenses | 29,822 | 25,710 | ||||||||||
Loss from operations | (14,434) | (11,207) | ||||||||||
Interest expense (non-cash) | (643) | (629) | ||||||||||
Interest income and other income, net | 939 | 1,434 | ||||||||||
Loss before income taxes | (14,138) | (10,402) | ||||||||||
Provision for income tax benefit (expense) | 559 | (1,262) | ||||||||||
Net loss | $ | (13,579) | $ | (11,664) | ||||||||
Net loss per share: | ||||||||||||
Basic and diluted net loss per share | $ | (0.27) | $ | (0.24) | ||||||||
Shares used to compute basic and diluted net loss per share | 49,706 | 48,283 | ||||||||||
Non-GAAP net loss | $ | (8,618) | $ | (4,544) | ||||||||
________________________________ | ||||||||||||
(1) While Viatris, Inc. records the total YUPELRI net sales, the Company is entitled to a | ||||||||||||
Three Months Ended March 31, | ||||||||||||
(In thousands) | 2025 | 2024 | ||||||||||
YUPELRI net sales ( | $ | 58,344 | $ | 55,226 | ||||||||
YUPELRI net sales (Theravance Biopharma implied | 20,420 | 19,329 | ||||||||||
(2) Amounts include share-based compensation expense as follows: | ||||||||||||
Three Months Ended March 31, | ||||||||||||
(In thousands) | 2025 | 2024 | ||||||||||
Research and development | $ | 1,070 | $ | 1,465 | ||||||||
Selling, general and administrative | 3,807 | 3,764 | ||||||||||
Total share-based compensation expense | $ | 4,877 | $ | 5,229 | ||||||||
THERAVANCE BIOPHARMA, INC. | |||||||
Reconciliation of GAAP to Non-GAAP Net Loss | |||||||
(In thousands) | |||||||
Three Months Ended March 31, | |||||||
2025 | 2024 | ||||||
(Unaudited) | |||||||
GAAP net loss | $ | (13,579) | $ | (11,664) | |||
Adjustments: | |||||||
Share-based compensation expense | 4,877 | 5,229 | |||||
Non-cash interest expense | 643 | 629 | |||||
Income tax (benefit) expense | (559) | 1,262 | |||||
Non-GAAP net loss | $ | (8,618) | $ | (4,544) | |||
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SOURCE Theravance Biopharma, Inc.
FAQ
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