Business
Theravance Biopharma, Inc. Reports Third Quarter 2020 Financial Results and Provides Business Update
- YUPELRI® (revefenacin) share of the nebulized COPD market increased to 17.4% through July 2020 (up from 16% in April 2020) and achieved brand profitability
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"- YUPELRI® (revefenacin) share of the nebulized COPD market increased to 17.4% through July 2020 (up from 16% in April 2020) and achieved brand profitability on a stand-alone basis\n - Company updating timelines for ampreloxetine and TD-1473 - top-line results expected in Q3 2021\n - TD-8236 reduced FeNO and pSTAT via JAK inhibition in the Phase 1 Part C study in moderate-to-severe asthmatics but did not meet the primary endpoint of the Phase 2a Lung Allergen Challenge study\n - TD-0903 data from Phase 1 provided confidence to continue dosing patients in a Phase 2 study; Phase 2 results expected in Q2 2021\n - The Company updates 2020 financial guidance\n\n\nDUBLIN, Nov. 5, 2020 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today reported financial results for the third quarter ending September 30, 2020. Theravance Biopharma's Total Revenue for the third quarter 2020 was $18.3 million. Operating loss was $76.6 million, or $61.1 million excluding share-based compensation expense. Cash, cash equivalents and marketable securities totaled $358.3 million as of September 30, 2020.\n\n \n \n \n \n \n \n\n \nIn connection with the commercialization of YUPELRI®, the Company is entitled to a share of U.S. profits and losses (65% to Mylan; 35% to the Company) pursuant to its agreement with Mylan. While Mylan records the total Net Sales of YUPELRI within its financial statements, Theravance Biopharma's implied 35% share of net sales for YUPELRI during Q3 2020 was $13.0 million (up from $5.8 million in Q3 2019). Going forward, Theravance Biopharma will report its implied 35% of Net Sales for YUPELRI in public communications and in the Company's quarterly SEC filings on Form 10-Q and Form 10-K.\n\"YUPELRI gained market share, delivered sales growth versus the second quarter and achieved brand profitability for Theravance Biopharma thanks to the efforts of the Mylan and Theravance Biopharma commercial teams. Based on the constraints posed by the pandemic, the team implemented a hybrid model of virtual selling, utilizing digital resources and in-person meetings when and where permitted,\" said Rick E Winningham, Chief Executive Officer. \n\"Despite ongoing challenges and the uncertain environment created by the global pandemic, we have seen a significant uptick in clinical trial enrollme...