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Jun 30, 2023
Theravance Q2 2023 Earnings Report
Reported financial and operational results for the second quarter of 2023.
Key Takeaways
Theravance Biopharma reported a $2.7 million increase in total revenue for the second quarter compared to the same period in 2022, primarily driven by an increase in YUPELRI net sales. The company completed $80.5 million of share buybacks in Q2 2023 and remains on track to achieve non-GAAP profitability in H2 2023, subject to YUPELRI’s increased net sales growth.
YUPELRI achieved good growth in both the hospital and community settings over the prior year.
Enrollment in the YUPELRI PIFR-2 study is expected to be completed shortly, with top-line data available late in the fourth quarter of 2023.
$80.5 million of share buybacks completed in Q2 2023.
Company remains on track to achieve non-GAAP profitability in H2 ’23, subject to YUPELRI’s increased net sales growth.
Theravance
Theravance
Forward Guidance
Theravance Biopharma expects to complete enrollment in the YUPELRI PIFR-2 study shortly, with top-line data to be available late in the fourth quarter of 2023. The Company expects to disclose top line results in January 2024.