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Dec 31, 2024
Theravance Q4 2024 Earnings Report
Theravance Biopharma, Inc. reported record fourth quarter and full year 2024 financial results, driven by strong YUPELRI sales and a significant TRELEGY milestone.
Key Takeaways
Theravance Biopharma concluded 2024 with record fourth quarter YUPELRI net sales and profitability, achieving a $50 million TRELEGY related sales milestone. The company also made steady progress in its CYPRESS study and ended the quarter with $88 million in cash.
YUPELRI® (revefenacin) US net sales reached an all-time high of $66.7 million in Q4 2024, a 10% increase year-over-year.
FY 2024 TRELEGY Net Sales, as reported by GSK, were $3.46 billion, triggering a $50 million milestone payment to Theravance Biopharma.
The CYPRESS study for Ampreloxetine is on track to enroll the final patient in the open label portion by mid-2025.
The company ended Q4 2024 with $88 million in cash, excluding the $50 million TRELEGY milestone received in February 2025.
Theravance
Theravance
Theravance Revenue by Segment
Revenue by Segment
YUPELRI Collaboration Revenue
CapyFin.com Forward Guidance
Theravance Biopharma expects minimal levels of Non-GAAP Losses from Operations and Cash Burn in 2025, similar to 2024 levels, with R&D expenses between $32 million and $38 million and SG&A expenses between $50 million and $60 million, excluding share-based compensation.
Positive Outlook
- Expects minimal Non-GAAP Losses from Operations and Cash Burn in 2025.
- Anticipates full year 2025 R&D expense between $32 million to $38 million (excluding share-based compensation).
- Anticipates full year 2025 SG&A expense between $50 million to $60 million (excluding share-based compensation).
- Expects full year share-based compensation expense between $18 million to $20 million.
- CYPRESS study on track to enroll final patient in the open label portion by mid-2025.
Challenges Ahead
- No specific negative guidance points were provided in the report, but the company expects to incur losses from operations.
- The company's financial guidance for 2025 indicates continued operational expenses.
- The company is undergoing a strategic review, which may introduce uncertainty.
- Future milestone and royalty payments are contingent on sales performance and other factors.
- The company's ability to achieve its financial targets depends on various risks and uncertainties outlined in the forward-looking statements.