Theravance Biopharma, Inc.

Theravance Biopharma, Inc. reported strong FY 2025 financial performance, achieving net income of $105.9 million compared to a $56.4 million net loss in 2024, driven by one-time gains and milestone achievements. Total revenues reached $107.5 million, up 67% YoY from $64.4 million, primarily from Viatris collaboration revenue of $75.0 million (up 16%) reflecting YUPELRI net sales growth to $266.6 million (up 12% YoY, with 7% demand increase) and $32.5 million in licensing/milestone revenue including $25.0 million YUPELRI sales milestone and $7.5 million China approval. Key non-operating items included $75.1 million net gain from TRELEGY royalty sale to GSK for $225.0 million proceeds and $50.0 million TRELEGY milestone income. Operating loss narrowed to -$3.6 million amid stable R&D at $37.4 million (-1% YoY) and SG&A rise to $73.7 million (+6% YoY). Cash from operations surged to $238.5 million, boosting liquidity to $326.5 million in cash/investments. Balance sheet strengthened with $485.6 million total assets and $296.7 million equity. Forward-looking, post-2026 restructuring targets 60% operating expense cut to ~$44 million annually, focusing on YUPELRI commercialization amid strategic review for shareholder value.

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