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Mar 31, 2020
Theravance Q1 2020 Earnings Report
Theravance Biopharma reported financial results for the first quarter ended March 31, 2020.
Key Takeaways
Theravance Biopharma reported revenue of $19.9 million and an operating loss of $72.5 million for the first quarter of 2020. The company's cash, cash equivalents, and marketable securities totaled $492.1 million as of March 31, 2020. The company is focusing on advancing its pipeline programs, including TD-0903 for COVID-19 related lung injury, and continuing its partnership with Janssen on TD-1473 and TD-5202.
YUPELRI growth continued in Q1 2020, but trajectory could be affected by COVID-19 in Q2.
Company moved to remote working conditions in early March 2020.
Accelerated internal research and development efforts on TD-0903 for Acute Lung Injury caused by COVID-19.
Screening of new patients is now resuming in some countries in a controlled and measured fashion as individual sites confirm their ability to support the study requirements.
Theravance
Theravance
Forward Guidance
The company is implementing mitigation plans to ensure patients in the clinical trials have continued access to drug supply and regular visits with their physicians for study visits per trial protocols.