Theravance Biopharma(US:TBPH)2025-11-10 21:11Financial Performance - YUPELRI achieved all-time high U.S. net sales of $71.4 million in Q3 2025, a 15% increase year-over-year driven by 6% customer demand growth [4]. - Total revenue for Q3 2025 was $20.0 million, with Viatris collaboration revenue increasing by 19% compared to Q3 2024 [13]. - Net income for Q3 2025 was $3.6 million, compared to a net loss of $12.7 million in Q3 2024, benefiting from a $6.5 million income tax benefit [17]. - Non-GAAP net income from operations was $2.3 million in Q3 2025, compared to a non-GAAP net loss of $2.9 million in Q3 2024 [17]. - Total revenue for Q3 2025 was $19,990,000, an increase of 18.5% compared to $16,868,000 in Q3 2024 [36]. - YUPELRI net sales recorded by Viatris for Q3 2025 were $71,363,000, up from $62,189,000 in Q3 2024, reflecting a growth of 17.5% [36]. - The company reported a net income of $3,615,000 for Q3 2025, compared to a net loss of $12,698,000 in Q3 2024, marking a significant turnaround [36]. - Non-GAAP net income for Q3 2025 was $2,260,000, compared to a loss of $2,897,000 in Q3 2024 [38]. Cash and Assets - Cash, cash equivalents, and marketable securities totaled $332.7 million as of September 30, 2025, with no debt [17]. - Cash and cash equivalents increased to $329,680,000 as of September 30, 2025, up from $88,350,000 at the end of 2024 [33]. - Total current assets rose to $354,697,000 as of September 30, 2025, compared to $161,067,000 at the end of 2024 [33]. - Shareholders' equity increased to $232,681,000 as of September 30, 2025, compared to $175,545,000 at the end of 2024 [33]. - The company has a future contingent milestone and royalty asset valued at $144,200,000 as of December 31, 2024 [33]. Research and Development - Research and Development expenses for Q3 2025 were $8.1 million, down from $9.3 million in Q3 2024 [13]. - Research and development expenses for Q3 2025 were $8,112,000, a decrease from $9,268,000 in Q3 2024 [36]. - The open-label portion of the pivotal Phase 3 CYPRESS study of ampreloxetine is complete, with topline results expected in Q1 2026 [6]. - The company plans to host a virtual Key Opinion Leader event on December 8, 2025, to discuss ampreloxetine's potential in treating neurogenic orthostatic hypotension [9]. Future Projections - The company is on track to exceed full year 2025 global net sales of approximately $3.4 billion, requiring $471 million in Q4 2025 to trigger a $50 million milestone from Royalty Pharma [12]. - Year-to-date sales of TRELEGY are on track to achieve a $50 million milestone in 2025, with global net sales of approximately $2.9 billion, up 13% year-over-year [7]. Expenses - Selling, general and administrative expenses increased to $18,333,000 in Q3 2025 from $16,875,000 in Q3 2024 [36].