Theravance Biopharma, Inc.

Listed Company

TBPHCIK 0001583107NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

$107.46M

Net Income

$105.89M

Total Assets

$485.57M

Equity

$296.72M

Shares Out

51.49M

Op. Cash Flow

$238.54M

Business

Theravance Biopharma, Inc. is a biopharmaceutical company focused on the development and commercialization of medicines. Its principal offerings include the FDA‑approved nebulized long‑acting muscarinic antagonist YUPELRI (revefenacin), the late‑stage investigational norepinephrine reuptake inhibitor ampreloxetine for symptomatic nOH in MSA, and economic interests in TRELEGY royalties. The company operates programs spanning marketed products, clinical development candidates and monetized royalty interests, and executes collaborations and licensing arrangements with partners. Its commercial and development activities are concentrated in the US with partnered commercialization, royalty streams from global markets and specific arrangements for the China region.

Summary from filing dated 2025-03-07

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	107	64	57	51	55
Research and development	37	38	41	63	194
Selling, general and administrative	74	69	70	67	99
Impairment of long-lived assets (non-cash)	0	5	—	—	—
Total expenses	111	111	113	143	313
Loss from operations	−4	−47	−56	−92	−258
Net gain on realized contingent milestone and royalty assets	75	—	—	—	—
TRELEGY milestone income	50	—	—	—	—
Interest expense (non-cash)	−2	−3	−2	—	—
Interest and other income, net	10	5	9	9	1
Income (loss) before income taxes	129	−45	−49	−93	−265
Provision for income tax benefit (expense)	−23	−12	−6	−9,000	200,000
Net income (loss)	106	−56	−55	872	−199
Net income (loss) per share - basic (in dollars per share)	2.1	−1.15	−1	11.85	−2.87
Net income (loss) per share - diluted (in dollars per share)	2.06	−1.15	−1	11.85	−2.87
Shares used to compute net income (loss) per share - basic (in shares)	50	49	55	74	69
Shares used to compute net income (loss) per share - diluted (in shares)	52	49	55	74	69

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash and cash equivalents	168	—	—	38	40
Short-term marketable securities	148	—	—	51	63
Receivables from collaborative arrangements	46	—	—	18	17
Receivables from milestones and royalty assets	50	—	—	50	—
Other prepaid and current assets	8	—	—	4	12
Total current assets	418	—	—	161	134
Long-term marketable securities	11	—	—	—	—
Property and equipment, net	6	—	—	7	9
Operating lease assets	24	—	—	28	36
Future contingent milestone and royalty assets	—	144	144	144	194
Restricted cash	836,000	—	—	836,000	836,000
Other assets	25	—	—	12	8
Total assets	486	—	—	354	382
Accounts payable	3	—	—	2	2
Accrued personnel-related expenses	13	—	—	7	6
Accrued clinical and development expenses	3	—	—	1	2
Accrued general and administrative expenses	2	—	—	3	3
Operating lease liabilities	11	—	—	11	4
Income tax payable	5	—	—	6	—
Other accrued liabilities	1	—	—	2	1
Total current liabilities	38	—	—	32	25
Long-term operating lease liabilities	32	—	—	39	45
Future royalty payment contingency	33	—	—	30	28
Unrecognized tax benefits	86	—	—	75	—
Other long-term liabilities	313,000	—	—	2	6
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred shares, $0.00001 par value per share: 230 shares authorized, no shares issued or outstanding	—	—	—	—	—
Ordinary shares, $0.00001 par value per share: 200,000 shares authorized; 51,069 and 49,471 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	1,000	—	—	—	—
Additional paid-in capital	1,156	—	—	1,141	1,122
Accumulated other comprehensive income	61,000	—	—	7,000	−65,000
Accumulated deficit	−860	—	—	−966	−909
Total shareholders' equity	297	—	—	176	213
Total liabilities and shareholders' equity	486	—	—	354	382

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	106	−56	—	—	—
Depreciation and amortization	2	2	2	4	5
Amortization and accretion on investment securities, net	−3	−3	−2	−681,000	10,000
Future royalty payment contingency interest accretion	2	3	2	974,000	—
Share-based compensation	18	21	25	40	62
Loss on disposal of property and equipment	35,000	34,000	1	−8,000	39,000
Amortization of right-of-use assets	4	4	4	4	4
Deferred income taxes	−12	−8	—	—	—
Other	−89,000	—	—	—	10,000
Receivables from collaborative and licensing arrangements	−27	−966,000	−689,000	−3	2
Prepaid clinical and development services	73,000	2	−526,000	9	10
Other prepaid and current assets	−3	7	−4	−704,000	3
Right-of-use lease assets	−32,000	−707,000	−314,000	−4	—
Future contingent milestone and royalty assets	144	—	—	—	—
Other assets	−1	411,000	−1	−4	−972,000
Accounts payable	326,000	750,000	6,000	−2	−4
Accrued personnel-related expenses, accrued clinical and development expenses, and other accrued liabilities	4	1	−7	−14	−37
Operating lease liabilities	−7	661,000	−3	−1	−2
Unrecognized tax benefits	10	10	1	64	−189,000
Other long-term liabilities	67,000	−532,000	8	−525,000	777,000
Net cash provided by (used in) operating activities	239	−12	−27	−187	−208
Purchases of property and equipment	−42,000	−332,000	−2	−572,000	−3
Purchases of marketable securities	−248	−141	−135	−103	−158
Maturities of marketable securities	143	140	31	158	286
Purchase of derivative	—	−2	—	—	—
Sale of short-term investments and marketable securities	—	16	71	17,000	—
Net cash (used in) provided by investing activities	−105	12	−33	1,154	124
Ordinary share repurchases	—	−445,000	−197	−129	—
Proceeds from the sale of ordinary shares	20,000	99,000	—	—	108
Proceeds from ESPP purchases	—	508,000	618,000	802,000	3
Proceeds from option exercises	766,000	—	—	—	5,000
Repurchase of shares to satisfy tax withholding	−4	−3	−3	−3	−9
Net cash used in financing activities	−3	−2	−199	−759	92
Net increase (decrease) in cash, cash equivalents, and restricted cash	130	−2	−259	208	8
Cash paid for income taxes, net	28	109,000	24,000	118	−4

Filings

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