Business
Theravance Biopharma, Inc. Reports First Quarter 2023 Financial Results and Provides Business Update
Q1 2023 YUPELRI® (revefenacin) net sales of $47.0 million, recognized by Viatris, up 8% from Q1 20221Q1 2023 YUPELRI retail new patient starts and total
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"Q1 2023 YUPELRI® (revefenacin) net sales of $47.0 million, recognized by Viatris, up 8% from Q1 20221Q1 2023 YUPELRI retail new patient starts and total prescriptions up 61% and 29%, respectively, year-over-year, reaching all-time highs2CYPRESS Phase 3 study of ampreloxetine recruiting; anticipate completing enrollment during H2 2024On track to complete $325 million capital return program by year-end; completed $215 million of share repurchases from inception through 4/30/23Jim Kelly, Managing Director at Weiss Asset Management, joins Board of DirectorsDUBLIN, May 8, 2023 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced financial and operational results for the first quarter of 2023.\n\n \n \n \n \n \n \n\n \n\"Through the beginning of 2023, we sharpened our commercial and development focus at Theravance, with YUPELRI retail new patient starts growing 61% and achieving a sixth consecutive quarter of record highs. We also delivered an important clinical milestone, having initiated enrollment for CYPRESS, our Phase 3 study for ampreloxetine, since our last update\", said Rick E Winningham, Chief Executive Officer. \"With the transformation we began nearly two years ago largely completed, we are well positioned to drive an acceleration in YUPELRI performance made possible by its unique value proposition to COPD patients in both the hospital and community settings. We are determined to deliver on this opportunity, while returning substantial capital to shareholders and driving our ampreloxetine study to completion.\"\n\"For MSA patients suffering with symptomatic neurogenic orthostatic hypotension (nOH), ampreloxetine has the potential to improve symptoms which impact their quality of life\", said Richard Graham, SVP and Head of R&D. \"CYPRESS is a focused Phase 3 study designed to confirm the clinical improvements ampreloxetine has demonstrated in MSA patients with symptomatic nOH in Study 0170. We plan to complete enrollment in CYPRESS during the second half of 2024 and provide guidance on timing for top-line results as enrollment progresses.\"\nQuarterly Highlights\nYUPELRI® (revefenacin) inhalation solution, the first and only once-daily, nebulized bronchodilator approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary d...