Theravance Biopharma Inc

NASDAQ:TBPHUnited States

May 13, 2024

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• Theravance Narrows Q1 Loss as Revenue Rises; Shares Rise After-hours, from 5:25PM ET on Monday May 13, 2024 by MT Newswires

  5:25PM ET on Monday May 13, 2024 by MT Newswires
  Companies Mentioned: TBPH
  05:25 PM EDT, 05/13/2024 (MT Newswires) -- Theravance Biopharma (TBPH) Monday night reported a Q1 net loss of $0.24 per share, compared with $0.35 loss a year ago. Analysts polled by Capital IQ expected $0.25 loss. Revenue for the quarter ended Marc...

• -- Earnings Flash (TBPH) THERAVANCE BIOPHARMA Posts Q1 Revenue $14.5M, vs. Street Est of $14M, from 4:10PM ET on Monday May 13, 2024 by MT Newswires

  4:10PM ET on Monday May 13, 2024 by MT Newswires
  Companies Mentioned: TBPH
  04:10 PM EDT, 05/13/2024 (MT Newswires) -- ...

• Theravance Biopharma, Inc. Reports First Quarter 2024 Financial Results and Provides Business Update, from 4:05PM ET on Monday May 13, 2024 by Dow Jones

  4:05PM ET on Monday May 13, 2024 by Dow Jones
  Companies Mentioned: TBPH
  assets 194,200 194,200 Restricted cash 836 836 Other assets 7,896 8,067 Total assets $ 371,307 $ 381,999 ========= ========== Liabilities and Shareholders' Equity Current liabilities $ 21,662 $ 24,767 Long-term operating lease liabilities 43,840 45,236 Future royalty payment contingency 28,417 27,788 Unrecognized tax benefits 67,075 65,294 Other long-term liabilities 5,445 5,919 Shareholders' equity 204,868 212,995 --------- ---------- Total liabilities and shareholders' equity $ 371,307 $ 381,999 ========= ========== ________________________________ (1) The condensed consolidated balance sheet as of December 31, 2023 has been derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. THERAVANCE BIOPHARMA, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three Months Ended March 31, ------------------------ 2024 2023 ------------ ---------- (Unaudited) Revenue: Viatris collaboration agreement (1) $ 14,503 $ 10,411 Collaboration revenue - 6 -------- --------- Total revenue 14,503 10,417 Costs and expenses: Research and development (2) 8,968 14,572 Selling, general and administrative (2) 16,742 19,183 Restructuring and related expenses (2) - 1,574 -------- --------- Total costs and expenses 25,710 35,329 -------- --------- Loss from operations (11,207) (24,912) Interest expense (non-cash) (629) (550) Interest income and other income (expense), net 1,434 2,979 -------- --------- Loss before income taxes (10,402) (22,483) Provision for income tax (expense) benefit (1,262) 395 -------- --------- Net loss $ (11,664) $ (22,088) ======== ========= Net loss per share: Basic and diluted net loss per share $ (0.24) $ (0.35) ======== ========= Shares used to compute basic and diluted net loss per share 48,283 62,934 ======== ========= Non-GAAP net loss $ (4,544) $ (14,912) ________________________________ (1) While Viatris, Inc. records the total YUPELRI net sales, the Company is entitled to a 35% share of the net profit (loss) pursuant to a co-promotion agreement with Viatris as presented below: Three Months Ended March 31, ------------------------ (In thousands) 2024 2023 --------------------------------- ------------ ---------- YUPELRI net sales (100% recorded by Viatris) $ 55,226 $ 46,955 YUPELRI net sales (Theravance Biopharma implied 35%) 19,329 16,434 (2) Amounts include share-based compensation expense as follows: Three Months Ended March 31, ------------------------ (In thousands) 2024 2023 --------------------------------- ------------ ---------- Research and development $ 1,465 $ 2,441 Selling, general and administrative 3,764 4,223 Restructuring and related expenses - 357 Total share-based compensation expense $ 5,229 $ 7,021 ======== ========= THERAVANCE BIOPHARMA, INC. Reconciliation of GAAP to Non-GAAP Net Loss (In thousands) Three Months Ended March 31, -------------------------------- 2024 2023 ----------------- ------------- (Unaudited) GAAP net loss $ (11,664) $ (22,088) Adjustments: --------------------------------- Share-based compensation expense 5,229 7,021 Non-cash interest expense 629 550 Income tax expense (benefit) 1,262 (395) ------------- ------------ Non-GAAP net loss $ (4,544) $ (14,912) ============= ============
  

• *DJ Theravance Biopharma 1Q Loss/Shr 24c >TBPH, from 4:05PM ET on Monday May 13, 2024 by Dow Jones

  4:05PM ET on Monday May 13, 2024 by Dow Jones
  Companies Mentioned: TBPH