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Theravance Biopharma, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $16,868,000, an increase from $15,693,000 in the same quarter the previous year. This increase is attributed to higher collaboration revenue from the Viatris (VTRS-1.50%) agreement.
Research and development expenses for the quarter were $9,268,000, compared to $8,311,000 in the previous year, primarily due to increased external-related expenses.
Selling, general, and administrative expenses increased to $16,875,000 from $16,142,000, mainly due to higher selling, marketing, and medical affairs expenses.
The company reported a net loss of $12,698,000 for the quarter, compared to $8,950,000 in the previous year, with the increase attributed to higher provision for income tax expense and impairment of long-lived assets.
Cash used in operating activities was $10,633,000, while cash used in investing and financing activities was $3,402,000 and $2,132,000, respectively.
Theravance Biopharma had cash, cash equivalents, and marketable securities of $91,361,000 as of September 30, 2024. The company expects these resources to be sufficient to fund operations for at least the next twelve months.
The filing also details various legal proceedings, including patent infringement suits related to YUPELRI, and highlights the company's strategic review process to assess all strategic alternatives.
The company continues to focus on the development and commercialization of its core programs, including YUPELRI and ampreloxetine, with ongoing efforts to enhance corporate governance and explore strategic opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Theravance Biopharma Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.