Theravance Biopharma, Inc. reported its financial results for the first quarter of 2026, revealing total revenues of $17.7 million, a 15% increase from $15.4 million in the same period last year. This growth was primarily driven by higher net sales of YUPELRI, its inhalation solution for chronic obstructive pulmonary disease (COPD), which saw a 7% year-over-year increase. The company recorded a net loss of $4.9 million, or $0.10 per share, significantly improved from a net loss of $13.6 million, or $0.27 per share, in the first quarter of 2025.
In terms of expenses, total operating costs decreased to $27.2 million from $29.8 million a year earlier, reflecting a reduction in research and development (R&D) expenses, which fell by 49% to $5.8 million. This decline was attributed to cost-saving measures associated with a recent organizational restructuring, which included a significant reduction in workforce and the winding down of the ampreloxetine program following disappointing clinical trial results. Selling, general, and administrative (SG&A) expenses also decreased slightly to $17.7 million, down from $18.4 million in the prior year.
The company’s balance sheet showed total assets of $472.3 million as of March 31, 2026, down from $485.6 million at the end of 2025. Cash and cash equivalents increased to $288.1 million, bolstered by milestone payments received from collaboration agreements, including a $25 million payment from Viatris and a $50 million payment from Royalty Pharma. Current liabilities decreased to $31.8 million from $38.3 million, reflecting improved cash management and operational efficiencies.
Theravance Biopharma is undergoing a strategic review to maximize shareholder value, which includes evaluating potential sales of the company. The restructuring is expected to reduce operating expenses by approximately 60% relative to 2025 levels, with full run-rate savings anticipated to be realized by the third quarter of 2026. The company remains focused on its core product, YUPELRI, and is exploring opportunities for geographic expansion and new product formulations.
Looking ahead, Theravance Biopharma expects its cash reserves will be sufficient to fund operations for at least the next twelve months. The company is committed to maintaining its focus on YUPELRI while managing costs effectively in light of recent operational changes. The ongoing strategic review may lead to further developments aimed at enhancing shareholder value, although no specific outcomes have been confirmed at this time.
About Theravance Biopharma, Inc.
Theravance Biopharma is a biopharmaceutical company focused on developing and commercializing medicines for respiratory and neurological conditions. Its key products include YUPELRI for COPD and investigational therapies like ampreloxetine for neurogenic orthostatic hypotension in MSA patients. The company leverages strategic partnerships, patent protections, and a diversified development pipeline to deliver innovative treatments and create shareholder value.
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