Business
Theravance Biopharma, Inc. Reports Third Quarter 2023 Financial Results and Provides Business Update
Q3 2023 YUPELRI® (revefenacin) net sales, recognized by Viatris, increased 9% from Q3 2022, reaching an all-time high of $58.3 million1Progress made towards
About this update from Theravance Biopharma, Inc.
[{"type":"text","content":"Q3 2023 YUPELRI® (revefenacin) net sales, recognized by Viatris, increased 9% from Q3 2022, reaching an all-time high of $58.3 million1Progress made towards the achievement of non-GAAP profitability, with Q3 2023 GAAP Net Loss of $9.0 million and Non-GAAP Loss of $0.7 million2Company expects to complete $325 million capital return program by year-end, having returned $30.8 million via share repurchases during Q3 2023 and $294.6 million since inception through quarter endÁine Miller, Ph.D. promoted to SVP of Development; Richard A. Graham, Ph.D. to remain through February 2024DUBLIN, Nov. 7, 2023 /PRNewswire/ -- Theravance Biopharma, Inc. (\"Theravance Biopharma\" or the \"Company\") (NASDAQ: TBPH) today announced financial and operational results for the third quarter of 2023.\n\n \n \n \n \n \n \n\n \n\"We are pleased with the company's bottom line performance in the third quarter, driven by a combination of continued YUPELRI growth and expense management, which positioned us to report a non-GAAP loss of less than $1 million,\" said Rick E Winningham, Chief Executive Officer. \"In addition, as we work with the MSA community to activate sites globally and enroll our Phase 3 CYPRESS study, our conviction in ampreloxetine's potential to address unmet needs of MSA patients and caregivers burdened by symptomatic nOH remains strong.\"\n\"With her extensive contributions at Theravance and prior strategic development and regulatory leadership experience at Alkermes, Elan, and Allergan, Aine is well positioned to lead the Development organization through completion of the CYPRESS study, NDA submission and beyond,\" said Rick E Winningham. \"I am pleased that Rick will stay through February to ensure we meet our PIFR-2 commitments and maintain our momentum in CYPRESS but will miss his steadfast leadership and camaraderie – he has been an important partner in Theravance's success.\"\nThird 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 $58.3 million for the quarter, increasing 9% year-over-year (Q3 2023 vs Q3 2022) and 6% quarter-over-quarter (Q3 2023 vs Q2 2023).1 Sales growth was driven by ...