Theravance Biopharma (TBPH) Company Report

Theravance Biopharma has a strong financial foundation with no debt, $330 million in cash, and an additional $175 million in near-term milestones expected over the next 15 months.
The company's product, Yupelri, generates approximately $50 million annually in operating cash and is experiencing growth rates and margin expansion through improved channel mix and fulfillment optimization.
A significant catalyst is the Phase 3 Cypress study readout for ampraloxetine, a treatment for neurogenic orthostatic hypotension (nOH) in Multiple System Atrophy (MSA) patients, anticipated in Q1 2026.
Ampraloxetine targets a rare neurological condition affecting 40,000 patients in the United States and is differentiated by not increasing supine hypertension, a key advantage over existing treatments.

15 hours ago

Transcript

Theravance Biopharma Discusses Cypress Study Readout and Financial Position

TBPH

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

Theravance Biopharma has significantly evolved, eliminating debt, reducing its burn rate, and establishing a strong financial foundation with $330 million in cash and an additional $175 million in near-term, near-certain milestones expected over the next 15 months.
The company anticipates the readout of its Phase 3 Cypress study for ampraloxetine, targeting neurogenic orthostatic hypotension (nOH) in Multiple System Atrophy (MSA) patients, in Q1 next year (2026).
Ampraloxetine previously demonstrated a 1.6-point change in the OHSA composite score in the Redwood study's MSA subgroup, exceeding the clinically meaningful threshold of a one-point change, and the Cypress study is designed to achieve a one-point or greater change.
Yupelri contributes approximately $50 million annually in operating cash, with ongoing efforts focused on improving hospital-to-home patient persistence and optimizing channel mix, which are currently in the "middle innings" of development.
Most of the New Drug Application (NDA) work for ampraloxetine is already complete, allowing for a relatively quick filing following positive Cypress data, and the drug has not shown an increase in supine hypertension, a key advantage over existing treatments.

16 hours ago

Transcript

Theravance Biopharma Reports Q3 2025 Results and Anticipates Key Milestones

TBPH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Theravance Biopharma achieved non-GAAP break-even in Q3 2025 and ended the quarter with approximately $333 million in cash and no debt.
UPELRI net sales for Q3 2025 increased 15% year-over-year to $71.4 million, driven by strong demand and favorable net pricing, leading to record brand profitability.
The company is on track to achieve $75 million in near-term milestones in Q4 2025, comprising $50 million for Trelegy and $25 million for UPELRI, with cash expected in Q1 2026.
Top-line results from the pivotal phase III Cypress study of ampraloxetine are anticipated in Q1 2026, representing a potential transformational milestone for the company.

Nov 10, 2025, 10:00 PM

Transcript

Theravance Biopharma Reports Q3 2025 Results and Anticipates Ampreloxetine Phase 3 Data in Q1 2026

TBPH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Theravance Biopharma reported Q3 2025 YUPELRI net sales of $71.4 million, a 15% year-over-year increase, and is on track to trigger a $25 million milestone for achieving $250 million in net sales.
The company achieved non-GAAP net income of $2.26 million in Q3 2025, reaching non-GAAP breakeven for the quarter, with similar levels expected in Q4 2025.
Theravance Biopharma ended Q3 2025 with a strong financial position, holding $332.7 million in cash and no debt.
Topline results for the pivotal Phase 3 CYPRESS study of Ampreloxetine are anticipated in Q1 2026, following the completion of enrollment in August 2025.
TRELEGY ELLIPTA recorded Q3 net sales of ~$1.0 billion and YTD net sales of ~$2.9 billion, positioning the company to trigger a $50 million milestone in 2025.

Nov 10, 2025, 10:00 PM

Presentation

Theravance Biopharma Reports Strong Q3 2025 Results and Anticipates Key Milestones

TBPH

Earnings

Guidance Update

New Projects/Investments

Theravance Biopharma reported Q3 2025 UPELRI net sales of $71.4 million, a 15% year-over-year increase, driven by 6% year-over-year demand growth.
The company achieved non-GAAP profit break-even in Q3 2025 and expects this to continue into Q4, excluding milestone payments.
Theravance ended Q3 2025 with approximately $333 million in cash and no debt.
$75 million in near-term milestones are expected to be earned in Q4 2025 ($25 million for UPELRI and $50 million for Trelegy), with an additional $100 million Trelegy milestone anticipated in 2026.
The pivotal Phase III Cypress study for ampraloxetine is on track to deliver top-line results in Q1 2026, representing a potential transformational catalyst for the company.

Nov 10, 2025, 10:00 PM

Transcript

TBPH Reports Strong Q3 2025 Results and Anticipates Key Milestones

TBPH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Theravance Biopharma reported Q3 2025 YUPELRI net sales of $71.4 million, marking a 15% year-over-year increase, driven by strong demand and favorable net pricing, which led to record brand profitability.
The company achieved non-GAAP profit break-even in Q3 2025 and concluded the quarter with approximately $333 million in cash and no debt.
Theravance Biopharma is on track to achieve $75 million in near-term milestone payments in Q4 2025, consisting of $50 million for Trelegy and $25 million for YUPELRI.
The pivotal Phase III CYPRESS trial for ampreloxetine is progressing as planned, with top-line results expected in Q1 2026.

Nov 10, 2025, 10:00 PM

Transcript

Theravance Biopharma Reports Strong Q3 2025 Financial Results and Pipeline Progress

TBPH

Earnings

Guidance Update

New Projects/Investments

Theravance Biopharma reported Q3 2025 total revenue of $20.0 million, a 19% increase year-over-year, and achieved net income of $3.6 million.
YUPELRI net sales reached an all-time high of $71.4 million in Q3 2025, up 15% year-over-year.
The company maintains a strong balance sheet with $333 million in cash and no debt as of September 30, 2025.
The open-label portion of the pivotal Phase 3 CYPRESS study for ampreloxetine is complete, with topline results expected in Q1 2026.
The company is on track to achieve a $50 million milestone for TRELEGY in 2025 and expects to maintain breakeven non-GAAP net income levels in Q4 2025.

Nov 10, 2025, 9:11 PM

8-K

Theravance Biopharma Announces Q2 2025 Results and Strategic Updates

TBPH

Earnings

Guidance Update

Revenue Acceleration/Inflection

Theravance Biopharma reported a GAAP Net Income of $54.8 million for Q2 2025, with total revenue of $26.2 million.
The company significantly strengthened its financial position by completing the sale of its TRELEGY royalty interest for $225 million, contributing to $338.8 million in cash and cash equivalents.
YUPELRI net sales grew 22% year-over-year to $66.3 million in Q2 2025, and a $7.5 million milestone was triggered by its approval in China.
The pivotal Phase 3 CYPRESS study for Ampreloxetine is on track for enrollment completion in late summer, with topline data expected approximately six months thereafter.
The company is on pace to achieve $150 million in TRELEGY sales-based milestones across 2025 and 2026, with Q2 2025 net sales reaching $1.1 billion.

Aug 12, 2025, 9:00 PM

Presentation

Theravance Sells Royalty Interest in Trelegy Ellipta to GSK for $225M

TBPH

M&A

Theravance Biopharma announced it has sold its remaining royalty interest in Trelegy Ellipta to GSK for $225 million in cash, marking a significant step in its strategy to unlock shareholder value.
The deal, effective as of the announcement, also allows Theravance to retain rights to receive up to $150 million in milestone payments based on Trelegy global net sales in FY2025 and FY2026.

Jun 2, 2025, 12:00 AM

8-K

Theravance Biopharma Q1 2025 Update: Ampreloxetine Phase 3 & Corporate Highlights

TBPH

New Projects/Investments

Earnings

Revenue Acceleration/Inflection

Guidance Update

YUPELRI delivered strong US net sales of ~$58M (up 6% YoY) and TRELEGY reported global net sales of $854M (up 14% YoY) with secured milestone payments .
Ended Q1 with robust liquidity of $131M in cash and no debt; GAAP net loss of $13.6M, non‐GAAP net loss of $8.6M, plus $15.4M revenue from the Viatris collaboration .
Subgroup analyses showed ampreloxetine achieved clinically meaningful improvement in nOH symptoms for MSA patients after 16 weeks, with sustained benefits in symptom management and functional activities .
The CYPRESS Phase III study for ampreloxetine is nearing enrollment completion, with top‐line data expected in about 6 months (final patient by late summer) .
YUPELRI also saw hospital channel volumes increase by 48% (316K doses) .

May 9, 2025, 4:00 PM

Press Release Transcript Presentation Press Release 8-K

Earnings Transcripts

Quarterly earnings call transcripts for Theravance Biopharma.

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