Theravance Biopharma ( (TBPH) ) has released its Q3 earnings. Here is a breakdown of the information Theravance Biopharma presented to its investors.
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Theravance Biopharma, Inc., a biopharmaceutical company focused on developing and commercializing respiratory and neurological drugs, has reported its third-quarter financial results for 2024. The company mainly promotes YUPELRI, a treatment for chronic obstructive pulmonary disease (COPD), and is also developing Ampreloxetine for neurogenic orthostatic hypotension in patients with multiple system atrophy (MSA).
In the third quarter of 2024, Theravance Biopharma achieved significant milestones with YUPELRI, reporting net sales of $62.2 million, marking a 7% year-over-year increase and a 14% rise from the previous quarter. The company also noted progress in its CYPRESS study, aiming to enhance treatment options for MSA patients. Furthermore, TRELEGY, another product in collaboration with GSK, saw a 17% increase in net sales, positioning Theravance for potential milestone payments.
Financially, Theravance reported a total revenue of $16.9 million for the third quarter, reflecting an 8% increase from the same period in 2023. However, the company recorded a net loss of $12.7 million, impacted by a $1.6 million non-cash impairment charge. Despite the losses, the company maintains a solid cash position with $91.4 million in cash and marketable securities.
Looking forward, Theravance Biopharma’s management remains optimistic about continued growth in YUPELRI sales and the advancement of its development programs. The establishment of a Strategic Review Committee aims to explore strategic alternatives to enhance shareholder value while maintaining a focus on operational goals and corporate governance improvements.
