Wed, May 15, 10:50 AM (306 days ago)
Theravance Biopharma, Inc. reported a net loss of $11.7 million for Q1 2024, a significant improvement from the $22.1 million net loss in Q1 2023. The company's revenue increased by 39% to $14.5 million, driven primarily by higher sales of YUPELRI, a COPD treatment co-promoted with Viatris, which saw an 18% increase in net sales. R&D expenses decreased by 38% to $9.0 million due to strategic actions to discontinue research activities. SG&A expenses also fell by 13% to $16.7 million, reflecting cost-saving initiatives. Cash and cash equivalents rose to $53.8 million from $39.5 million at the end of 2023, bolstered by net cash provided by investing activities totaling $17.0 million. The company completed its capital return program, repurchasing shares worth approximately $0.4 million in January 2024. Future financial health will depend on the continued success of YUPELRI, ongoing clinical trials for ampreloxetine, and potential milestone payments from Royalty Pharma related to TRELEGY sales.