Business
Theravance Biopharma, Inc. Highlights 2022 Accomplishments and 2023 Key Targets
Strategic priorities focused on continued Net Sales growth for YUPELRI® (revefenacin) and conduct of the ampreloxetine Phase 3 study (CYPRESS) in Multiple
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"Strategic priorities focused on continued Net Sales growth for YUPELRI® (revefenacin) and conduct of the ampreloxetine Phase 3 study (CYPRESS) in Multiple System Atrophy (MSA) patients with symptomatic neurogenic orthostatic hypotension (nOH)Initiate CYPRESS study in Q1 2023 and submit orphan drug designation in early 2023Complete PIFR-2 study for YUPELRI® in 2H 2023Execute $250 million return of capital program, of which ~50% has been completed as of 12/31/2022Achieve Non-GAAP1 profitability by 2H 2023DUBLIN, Jan. 9, 2023 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced its 2022 Accomplishments and 2023 Key Targets.\n\n \n \n \n \n \n \n\n \n\"Last year was a transformative year for Theravance Biopharma and demonstrates the power of a team that leans into the Company's values and core purpose: delivering medicines that make a difference. After restructuring in late 2021, we narrowed our focus, executed on our strategy, and delivered on our key goals. YUPELRI produced all-time high net sales, profitability, and market share in Q2 and Q3, and we expect continued growth in Q4 and beyond. Positive PIFR-2 results in 2023 will enhance the growth trajectory of YUPELRI. Based on successful discussions with the FDA, we will conduct one additional study in MSA patients which is planned to start in Q1 2023. With the new study and a substantial body of preclinical and clinical data in-hand, we have confidence in our ability to file an NDA for ampreloxetine as a treatment for MSA patients with symptomatic nOH. The sale of our TRELEGY ELLIPTA royalty interests to Royalty Pharma for over $1.5 billion in potential value enabled us to eliminate all of our debt and has facilitated the initiation of a return of capital program to shareholders. \nWe are excited about the future of the Company and grateful for the team that has refocused the portfolio and reinvigorated our business model. With an attractive financial profile and several planned near-term milestones, we are well positioned to create shareholder value in 2023 and beyond,\" said Rick E Winningham, Chief Executive Officer.\n2022 Accomplishments:\nYUPELRI® (revefenacin):Two consecutive quarters of all-time high Net Sales and Profit in Q2 2022 & Q3 2022, and expect continued growth in Q4 202211 consecutive quarters of...