Here are the 10-K annual reports from Theravance Biopharma, Inc. (TBPH) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow TBPH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TBPH filings page.
Theravance Biopharma reports a pivotal shift in its business following mixed 2025 developments. YUPELRI® net sales rose 12% to $266.6 million, triggering a $25.0 million milestone from Viatris and reaching record annual sales and brand profitability.
The company sold its remaining TRELEGY® royalty interest to GSK for $225.0 million and received a $50.0 million TRELEGY milestone in 2026, while up to $100.0 million in additional TRELEGY milestones remain available. However, Phase 3 ampreloxetine (CYPRESS) failed its primary endpoint, leading to wind-down of that program.
In response, Theravance is implementing a restructuring that will wind down R&D, significantly reduce G&A, and is expected to cut operating expenses by about 60% versus 2025, delivering roughly $70 million in annualized savings from Q3 2026. A Strategic Review Committee is urgently evaluating alternatives, including a potential sale of the company, to maximize shareholder value.