In This Story
Theravance Biopharma Inc. (TBPH-0.60%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a net loss of $56.4 million for the year. This compares to a net loss of $55.2 million in the previous year.
Revenue from the Viatris collaboration agreement increased by 13% to $64.4 million, driven by YUPELRI's continued market growth. Total YUPELRI net sales recorded by Viatris reached $238.6 million in 2024.
Research and development expenses decreased by 7% to $37.6 million, primarily due to reduced share-based compensation and facilities expenses following strategic actions taken in 2023.
Selling, general, and administrative expenses were $69.2 million, slightly down from the previous year. This includes a decrease in general and administrative expenses due to cost-saving initiatives.
In 2024, Theravance recognized a non-cash impairment charge of $4.5 million related to its long-lived assets, including operating lease assets and leasehold improvements.
The company received a $50.0 million milestone payment from Royalty Pharma in February 2025, associated with 2024 TRELEGY global net sales exceeding certain thresholds.
Theravance's cash, cash equivalents, and marketable securities totaled $88.4 million as of December 31, 2024. The company completed a $325.3 million capital return program in January 2024.
The board of directors announced the formation of a Strategic Review Committee in November 2024 to assess strategic alternatives, including those related to YUPELRI, ampreloxetine, and TRELEGY.
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. annual 10-K report dated March 7, 2025. To report an error, please email earnings@qz.com.