Theravance Biopharma, Inc. Reports Second Quarter 2020 Financial Results and Provides Business Update

About this update from Theravance Biopharma, Inc.

[{"type":"text","content":"- Ampreloxetine and TD-1473 programs progressing towards three data readouts in 2021\n - YUPELRI® (revefenacin) gained market share despite COVID-19 impact on market demand\n - TD-0903 program completed Phase 1, and now enrolling Phase 2\n - The Company maintains 2020 financial guidance\n\n\nDUBLIN, Aug. 6, 2020 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today reported financial results for the second quarter ending June 30, 2020. Revenue for the second quarter 2020 was $15.0 million. Operating loss was $72.2 million, or $55.6 million excluding share-based compensation expense. Cash, cash equivalents and marketable securities totaled $438.3 million as of June 30, 2020.\n\n \n \n \n \n \n \n\n \n\"This quarter was the first quarter for Theravance Biopharma working completely remotely, with the exception of our essential lab workers, and I could not be more proud and grateful of the work the team has been able to deliver. We will continue to incorporate the key learnings into our processes and will work to ensure that we become an even stronger company post-pandemic,\" said Rick E Winningham, Chief Executive Officer.\n\"Our commercial team continued to find ways to sustain market share momentum with YUPELRI, coordinating meaningful interactions with their accounts by leveraging digital and virtual selling tools. Given the challenges in a market which was and continues to be negatively affected by COVID-19, we were able to improve YUPELRI market share. Moving into the third quarter, we are tailoring our sales model to a hybrid model – in-person and remote call options – that can be modified depending on state and local restrictions, as well as customer preference. This allows our field teams to customize their approach based on what's right for them and their customers, always keeping health and safety the priority. We continue to forecast YUPELRI becoming a cash-flow positive brand in the United States (US) by the end of 2020.\"\n\"We continue to move our clinical programs forward despite ongoing challenges from the global pandemic. These challenges have resulted in delays in our late stage clinical programs for ampreloxetine, a norepinephrine reuptake inhibitor (NRI) under evaluation for the treatment of symptomatic neurogenic orthostatic hypotension (nOH), and TD-1473,...

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