Business
Theravance Biopharma, Inc. Reports Second Quarter 2024 Financial Results and Provides Business Update
Q2 2024 YUPELRI® (revefenacin) net sales of $54.5 million, recognized by Viatris, decreased 1% from Q2 20231Viatris collaboration revenue of $14.3 million,
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"Q2 2024 YUPELRI® (revefenacin) net sales of $54.5 million, recognized by Viatris, decreased 1% from Q2 20231Viatris collaboration revenue of $14.3 million, increased 4% versus Q2 2023Partner Viatris submitted YUPELRI NDA in China; $7.5 million milestone if approvedNow expecting last patient into the open label portion of CYPRESS in mid-2025, top line data anticipated approximately 6 months laterQ2 2024 TRELEGY net sales of $1.065 billion, increasing the likelihood of achieving up to $50 million of milestones in 2024Q2 2024 ending cash balance of $96.1 millionDUBLIN, Aug. 5, 2024 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced financial and operational results for the second quarter of 2024.\n\n \n \n \n \n \n \n\n \n\"YUPELRI net sales decreased 1% from the prior quarter, owing to near-term headwinds from an evolved channel mix and a lower realized net price,\" said Rick Winningham, Theravance Biopharma CEO. \"We are disappointed with this quarter's net sales result, but remain confident in our ability to continue to grow YUPELRI in the future, given strong and consistent demand generation.\" He continued, \"In addition, while we have activated over 80% of study sites in CYPRESS and achieved solid enrollment in the quarter, we now anticipate enrolling the last patient into the open-label portion of the study in mid-2025. We continue to prioritize delivering a high-quality study in pursuit of making ampreloxetine available to those MSA patients suffering without viable treatment options for their symptomatic nOH. Finally, we are pleased with another exceptional quarter for TRELEGY, which increases our confidence in achieving milestones in 2024, which would contribute to our existing balance sheet strength.\" \nSecond 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):\nRealized total net sales of $54.5 million for the quarter, a decrease of 1% compared with the same period in 2023.1Generated a robust 13% increase in customer demand (Q2 2024 vs Q2 2023).2Increased hospital doses sold by 43% (Q2 2024 vs Q2 2023).3Increased share of the long-acting ...