Business
Theravance Biopharma, Inc. Reports First Quarter 2020 Financial Results and Provides Business Update
- TD-0903, an investigational lung-selective nebulized Janus kinase inhibitor (JAKi) with the potential to treat Acute Lung Injury in hospitalized patients
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"- TD-0903, an investigational lung-selective nebulized Janus kinase inhibitor (JAKi) with the potential to treat Acute Lung Injury in hospitalized patients with COVID-19, has progressed to Phase 1 clinical testing\n - Pipeline momentum impacted by COVID-19 disruption, studies continue to enroll; ampreloxetine and TD-1473 study readouts expected to move into 2021\n - YUPELRI® (revefenacin) growth continued in first quarter 2020, in partnership with Mylan; trajectory could be affected by COVID-19 in second quarter\n - Maintains 2020 financial guidance\n\n\nDUBLIN, May 6, 2020 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today reported financial results for the first quarter ended March 31, 2020. Revenue for the first quarter 2020 was $19.9 million. Operating loss was $72.5 million, or $57.2 million excluding share-based compensation expense. Cash, cash equivalents and marketable securities totaled $492.1 million as of March 31, 2020.\n\n \n \n \n \n \n \n\n \n\"As we are each challenged by COVID-19 – personally and professionally, I want to thank our employees who have supported the communities we serve: the most vulnerable with respiratory illness and immune deficiencies, healthcare professionals across the globe and each other in extremely troublesome times. I could not be prouder,\" said Rick E Winningham, Chief Executive Officer. \"Theravance Biopharma moved to remote working conditions in early March 2020 for the vast majority of our workforce. Our past investment in technology infrastructure is enabling us to rapidly shift and service our business. Our geographic diversification of clinical trial sites as well as supply chain is minimizing impact on our clinical trial programs. The commitment of our lab-based personnel to work in our laboratories during this time has been crucial to continued progress of our pipeline programs.\"\n\"Our commercial team remains focused on delivering YUPELRI to the COPD community – always a vulnerable community and especially during this pandemic – to both the people with COPD and the healthcare professionals that treat them; our team has been continuously available to support them with YUPELRI. As the only once-daily nebulized maintenance therapy for COPD, we believe YUPELRI has made a difference for the community during these challeng...