Business
Theravance Biopharma, Inc. Reports First Quarter 2024 Financial Results and Provides Business Update
Q1 2024 YUPELRI® (revefenacin) net sales of $55.2 million, recognized by Viatris, increased 18% from Q1 20231Viatris collaboration revenue of $14.5 million,
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"Q1 2024 YUPELRI® (revefenacin) net sales of $55.2 million, recognized by Viatris, increased 18% from Q1 20231Viatris collaboration revenue of $14.5 million, increased 39% versus Q1 2023, reflecting margin improvementContinued progress for ampreloxetine CYPRESS enrollmentVirtual ampreloxetine KOL event scheduled for May 23, 2024Q1 2024 ending cash balance of $100 millionDUBLIN, May 13, 2024 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced financial and operational results for the first quarter of 2024.\n\n \n \n \n \n \n \n\n \n\"Building on recent momentum, the Theravance commercial team again delivered a solid quarter of YUPELRI hospital sales execution in the first quarter, setting us on a path to contribute significantly to the product's overall growth in 2024\", said Rick E Winningham, Chief Executive Officer. \"We remain laser focused on YUPELRI growth and CYPRESS execution and are looking forward to sharing more about our progress and plans for ampreloxetine at a Key Opinion Leader-led virtual investor event scheduled for May 23rd.\"\nFirst Quarter Highlights\nYUPELRI® (revefenacin) inhalation solution, the first and only once-daily, nebulized LAMA (long- acting muscarinic agent) bronchodilator approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD):\nAchieved total net sales of $55.2 million for the quarter, increasing 18% year-over-year (Q1 2024 vs Q1 2023).1Grew doses sold into the hospital channel by 31% year-over-year (Q1 2024 vs Q1 2023).2Increased share within the long-acting nebulized segment of the COPD market. During the quarter, share within the community and hospital settings increased year-over-year to 30.5% and 16.6%, respectively, from 28.0% and 15.0% in Q1 2023.3Ampreloxetine, an investigational, once-daily norepinephrine reuptake inhibitor in development for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA):\nVirtual ampreloxetine KOL event scheduled for May 23, 2024.Enrollment continues globally for the CYPRESS study, with footprint expanded to include active sites in Latin America and Asia Pacific.CYPRESS enrollment into the open-label period of the study expected to be completed in the second half of 2024.TRELEGY ...