Theravance Biopharma, Inc. · NASDAQ:TBPH
Theravance Biopharma — Q3 2025 Earnings Presentation
22 slides from Theravance Biopharma's earnings presentation, Nov 10, 2025
Slide 1: Third Quarter 2025 Financial Results and Business Update
Theravance Biopharma Third Quarter 2025 Financial Results and Business Update November 10, 2025 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 countr
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, expectations and future events. Theravance Biopha
Slide 3: Agenda
Agenda Opening & Closing Remarks Rick Winningham: Chief Executive Officer Commercial Updates Rhonda Farnum: Senior Vice President, Chief Business Officer Development & Regulatory Updates Dr. Áine Miller: Senior Vice President, Development TRELEGY & Financial Updates Aziz Sawaf: Senior Vice President
Slide 4: Delivered Strong Q3 Results While Approaching a Major Catalyst
Delivered Strong Q3 Results While Approaching a Major Catalyst • Net sales of $71.4M, an all-time high, representing 15% YoY growth1 • On-track to trigger $25M milestone for achievement of $250M of Net Sales2 • Total customer demand increased 6% YoY3 ; hospital growth of 29% YoY4 • Open-label portio
Slide 5: The Only Once-Daily, Nebulized LAMA Maintenance Medicine for COPD
The Only Once-Daily, Nebulized LAMA Maintenance Medicine for COPD Co-promotion agreement with VIATRISTM (35% / 65% Profit Share) Rhonda Farnum Senior Vice President, Chief Business Officer COPD, chronic obstructive pulmonary disease; LAMA, long-acting muscarinic antagonist.
Slide 6: Continued Year-over-Year YUPELRI Net Sales Growth in the U.S.
Continued Year-over-Year YUPELRI® Net Sales Growth in the U.S. Annual YUPELRI Net Sales Quarterly YUPELRI Net Sales (Trailing Eight Quarters) 250 $239 80 $221 $71.4 $66.7 Total YUPELRI Net Sales ($M) $202 70 $66.3 200 $60.6 $62.2 60 $58.3 $55.2 $54.5 $162 150 $143 50 40 100 30 $55 20 50 10 0 0 2019
Slide 7: Strong Q3 Performance and Expanding YUPELRI Profitability
Strong Q3 Performance and Expanding YUPELRI® Profitability • Q3 2025 U.S. net sales of $71.4M up 15% vs. Q3 2024 Growth in Q3 2025 • Hospital doses growth of 29% vs Q3 2024; new hospital market share high of 21% • Hospital setting serves as key point of initiation; majority of patients receive scrip
Slide 8: Ampreloxetine
AMPRELOXETINE The first once-daily, selective norepinephrine reuptake inhibitor in development to treat symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA) Dr. Áine Miller Senior Vice President, Development
Slide 9: Recent Publications and Presentations Highlight Durable Symptom Benefit
Recent Publications and Presentations Highlight Durable Symptom Benefit Observed in Previous REDWOOD/0170 Study in MSA Patients1 Publications AAS Presentations “Precision therapy with ampreloxetine for neurogenic orthostatic hypotension in multiple system atrophy” manuscript submitted, under review
Slide 10: Ampreloxetine Increase in Standing Blood Pressure Correlated with Improvement in Symptoms
Ampreloxetine Increase in Standing Blood Pressure Correlated with Improvement in Symptoms and Daily Activities in Patients with MSA in the REDWOOD/0170 Study1 3 min standing blood pressure over time* (n=20) (n=40) (n=20) RW Symptoms over time** Functional impairment over time† RW RW Time (weeks) Tim
Slide 11: Ampreloxetine Clinical Development Status Update
Ampreloxetine Clinical Development Status Update Phase 3 CYPRESS Trial Upcoming Virtual • Completed enrollment in August 2025 KOL Event for Investors with Dr. Horacio Kaufmann • Trial progressing as planned, with all patients completing the open-label portion of the trial • Topline results anticipat
Slide 12: GSK's TRELEGY: Milestones from Royalty Pharma
GSK’s TRELEGY The First And Only Once-Daily Triple Therapy In a Single Inhaler For Adult Patients With COPD Or Asthma Milestones from Royalty Pharma Aziz Sawaf Senior Vice President, Chief Financial Officer COPD, chronic obstructive pulmonary disease
Slide 13: On Pace to Achieve $150M in TRELEGY Sales Milestones in 2025 and 2026
On Pace to Achieve $150M in TRELEGY Sales Milestones in 2025 and 2026 Q3’25 Net Sales of $1.0B and YTD Net Sales of $2.9B, up 13% YoY 2025 and 2026 Sales Milestones1 Strong TRELEGY Global Net Sales Growth ($M) $4,500 $4,018 $3,846 Global Net Sales Royalty Milestone to $4,000 Year $3,456 Equivalent T
Slide 14: Financial Update
Financial Update Aziz Sawaf Senior Vice President, Chief Financial Officer
Slide 15: Third Quarter 2025 Financials (Unaudited)
Third Quarter 2025 Financials (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, ($, in thousands) 2025 2024 2025 2024 (Unaudited) (Unaudited) Revenue: Viatris collaboration agreement $ 19,990 $ 16,868 $ 54,073 $ 45,627 Licensing revenue - - 7,500 - Total revenue 19,990 16,
Slide 16: Third Quarter 2025 Financials (Unaudited) (Cont'd)
Third Quarter 2025 Financials (Unaudited) (Cont’d) Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (Loss) (In thousands, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) GAAP Net Income (Loss) $ 3,615
Slide 17: Third Quarter 2025 Financial Highlights
Third Quarter 2025 Financial Highlights Metric Q3 ‘25 (M) Q3 ‘24 (M) Note VIATRIS Collaboration Revenue $20.0 $16.9 19% growth YoY driving improved profit margins SG&A and R&D Expense, ex-SBC $21.9 $21.2 Share-Based Compensation $4.6 $5.0 Down 8% YoY due to continued cost discipline GAAP Net Income
Slide 18: Reaffirmed Operating Expense Guidance with Improved Margin Outlook
Reaffirmed Operating Expense Guidance with Improved Margin Outlook Operating Expenses ($M) 2025 OPEX Guidance: $140 • R&D (excluding share-based comp): $32M - $38M • SG&A (excluding share-based comp): $50M - $60M $120 111.3 109.0 • Share-Based Compensation: $18M - $20M $100 32.5 35.0 2025 Non-GAAP P
Slide 19: Strong Financial Position and Cash-Generating YUPELRI Set the Foundation for Phase 3
Strong Financial Position and Cash-Generating YUPELRI® Set the Foundation for Ampreloxetine Phase 3 Catalyst in Q1 2026 Completed Phase 3 CYPRESS enrollment in Q3 2025; topline data anticipated in Q1 2026 Ampreloxetine FDA Orphan Drug Designation Upcoming Phase 3 Data Targets ~40,000 underserved pat
Slide 20: Q&A Session
Q&A Session Rhonda Farnum Rick Winningham Senior Vice President, Chief Executive Officer Chief Business Officer Aziz Sawaf, CFA Áine Miller Senior Vice President, Senior Vice President, Chief Financial Officer Development
Slide 21: YUPELRI (revefenacin) Inhalation Solution
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 compo
Slide 22: 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 nebulizer