Theravance Biopharma, Inc. · NASDAQ:TBPH
Theravance Biopharma — Q3 2021 Earnings Presentation
22 slides from Theravance Biopharma's earnings presentation, Nov 3, 2021
Slide 1: Third Quarter 2021 Financial Results and Business Update
Third Quarter 2021 Financial Results and Business Update November 3, 2021 THERAVANCE BIOPHARMA ® , THERAVANCE ® , the Cross/Star logo and MEDICINES THAT MAKE A DIFFERENCE ® are registered trademarks of the Theravance Biopharma group of companies (in the U.S. and certain other countries). All third p
Slide 2: Forward-looking statements safe harbor
Under the safe harbor provisions of the U . S . Private Securities Litigation Reform Act of 1995 , the company cautions investors that any forward - looking statements or projections made by the company are subject to risks and uncertainties that may cause actual results to differ materially from th
Slide 3: Agenda
Agenda 3 Introduction Gail B. Cohen Vice President, Corporate Communications Overview Rick E Winningham Chief Executive Officer Commercial and Development Update Rhonda Farnum Senior Vice President, Commercial and Medical Affairs Richard A. Graham Senior Vice President, Research and Development Fina
Slide 4: Rapid transition to a streamlined, respiratory focused Theravance Biopharma
Rapid transition to a streamlined, respiratory focused Theravance Biopharma 1. Regular and contingent workers. 2. Excludes share - based compensation and any one - time costs related to strategic action. 3. Source: Bloomberg Consensus September 2021. 4. Source: TBPH Broker Consensus September 2021.
Slide 5: Key pillars of value creation plan
Key pillars of value creation plan 1. 1. Source: Bloomberg Consensus September 2021. 2. Source: TBPH Broker Consensus September 2021. 2. JAK, Janus kinase; PIFR, peak inspiratory flow rate. 5 TRELEGY YUPELRI ® Potential Upside From Core Respiratory Pipeline ‣ Estimated global peak sales of $3.0 bill
Slide 6: Significant OPEX reduction to drive sustainable profitability beginning in 2H 2022
Significant OPEX reduction to drive sustainable profitability beginning in 2H 2022 1. Represents mid - point of guidance range. 2. Excluding share - based compensation and any one - time costs related to strategic actions. 3. Regular and contingent workers. 4. SG&A guidance includes all TBPH costs i
Slide 7: FDA-approved for the maintenance treatment of COPD
FDA - approved for the maintenance treatment of COPD First and only once - daily, nebulized maintenance medicine for COPD
Slide 8: YUPELRI (revefenacin) inhalation solution
YUPELRI ® (revefenacin) inhalation solution 1. Global Strategy for Diagnosis, Management, and Prevention of COPD, 2018. 2. TBPH market research (N = 160 physicians); refers to US COPD patients. COPD, chronic obstructive pulmonary disease; LAMA, long - acting muscarinic antagonist. 8 Once - daily LAM
Slide 9: TBPH implied 35% of YUPELRI US net sales by quarter
TBPH implied 35% of YUPELRI ® US net sales by quarter See TBPH 10K filed February 26, 2021 for greater detail re TBPH implied 35%. 9 TBPH implied 35% of YUPELRI US net sales represents TBPH’s portion of the combined TBPH and VIATRIS net revenue TBPH Implied 35% of Total Net Sales ($M) $3.2 $5.8 $10.
Slide 10: YUPELRI hospital sales and community TRx trends
YUPELRI ® hospital sales and community TRx trends Continued market share growth across both the hospital and retail channels 1.1% 2.2% 3.4% 5.4% 6.5% 6.3% 7.4% 7.8% 8.7% 9.5% 0% 5% 10% 15% 20% 25% Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Hospital LA - NEB Market Share* Hospital Ma
Slide 11: Respiratory market trends across nebulized and handheld
Respiratory market trends across n ebulized and handheld YUPELRI ® and TRELEGY with strong YoY growth while respective markets declined or remained flat 11 1. IQVIA XPO Excl. LTC (Retail) and SolutionsRx (DME / Med B FFS) through 7/31/2021. 2. Includes generic Neb - LABA ( arformoterol and formotero
Slide 12: TRELEGY asthma approval and BREZTRI entry continue to drive closed triple market growth
TRELEGY asthma a pproval and BREZTRI entry c ontinue to drive c losed t riple m arket g rowth Source: Symphony Health METYS Prescription Dashboard through 9/30/2021. ICS/LABA, inhaled corticosteroid/long - acting beta agonist; LABA, long - acting beta agonist; LAMA, long - acting muscarinic antagoni
Slide 13: TRELEGY asthma approval and BREZTRI entry continue to drive closed triple market growth
TRELEGY asthma a pproval and BREZTRI entry c ontinue to drive c losed t riple m arket g rowth Source: Symphony Health METYS Prescription Dashboard through 9/30/2021. TRELEGY 100 - 62.5 is the only strength indicated for treatment of COPD. For patients with ASTHMA: Either strength, 100 - 62.5 or 20 0
Slide 14: Pipeline focused on highest value core respiratory opportunities
Pipeline focused on highest value core respiratory opportunities 1. Excluding programs that are in the process of being wound down following restructuring. 2. Excluding share - based compensation and any one - time costs related to strategic actions. JAK, Janus kinase; PIFR, peak inspiratory flow ra
Slide 15: A new, respiratory focused Theravance Biopharma pipeline
15 Program Indication US Patients 1 Research Phase 1 Phase 2 Phase 3 Filed Marketed Phase 4 Collaborator Economic Interests TRELEGY 2 FF/UMEC/VI COPD >8mm GSK & Innoviva, Inc. Asthma ~25mm Skin - selective JAKi Dermatological diseases >8mm Respiratory Assets YUPELRI ® (revefenacin) LAMA COPD Patient
Slide 16: Economic interest in GSK's TRELEGY ELLIPTA
Economic interest GSK’s TRELEGY ELLIPTA (FF/UMEC/VI): First and only once - daily single inhaler triple therapy
Slide 17: Economic interest in GSK's TRELEGY
Economic interest in GSK’s TRELEGY 1. TBPH holds 85% economic interest in upward - tiering royalty stream of 6.5% – 10% payable by GSK (net of TRC expenses paid and the amount of cash, if any, expected to be used by TRC pursuant to the TRC Agreement over the next four fiscal quarters). 75% of TRC in
Slide 18: Third quarter 2021 financial highlights
Third quarter 2021 financial highlights 1. Cash, cash equivalents and marketable securities. 2. Amounts include share - based compensation. 18 $216.2 million cash 1 as of September 30, 2021 Research and development operating expense excluding share - based compensation 36,783 59,610 140,239 172,064
Slide 19: Rapid transition to a streamlined, respiratory focused Theravance Biopharma
Rapid transition to a streamlined, respiratory focused Theravance Biopharma 19 Significant cost reduction program reduces Company size to become sustainably cash - flow positive beginning 2H 2022 Focus on leveraging expertise in developing and commercializing respiratory therapeutics Streamlined R&D
Slide 20: Q&A Session
Q&A Session Rick E Winningham Chairman and Chief Executive Officer Andrew A. Hindman Senior Vice President, Chief Financial Officer Rhonda Farnum Senior Vice President, Commercial and Medical Affairs Richard A. Graham Senior Vice President, Research and Development
Slide 21: About YUPELRI (revefenacin) inhalation solution
About YUPELRI ® (revefenacin) inhalation solution YUPELRI ® (revefenacin) inhalation solution is a once - daily nebulized LAMA approved for the maintenance treatment of COPD in the US . Market research by Theravance Biopharma indicates approximately 9 % of the treated COPD patients in the US use neb
Slide 22: YUPELRI indication and Important Safety Information
YUPELRI ® (revefenacin) inhalation solution YUPELRI ® inhalation solution is indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD) . Important Safety Information (US) YUPELRI is contraindicated in patients with hypersensitivity to revefenacin or any co