Theravance Biopharma(US:TBPH)2025-05-09 01:20YUPELRI Performance and Potential - YUPELRI net sales for Q1 2025 reached $58.3 million, a 6% increase compared to Q1 2024[10, 24] - Hospital doses of YUPELRI increased by 48% in Q1 2025 compared to Q1 2024[10, 20] - Theravance Biopharma receives 35% of US profits from YUPELRI sales due to a co-promotion agreement with Viatris[9, 11, 16, 23, 58] - A $25 million milestone is achievable if US net sales of YUPELRI exceed $250 million, requiring a 5% growth from 2024[24, 57] - Viatris submitted an NDA in China for YUPELRI in June 2024, with a potential $45 million milestone and 14-20% tiered royalties for Theravance Biopharma[24, 57] TRELEGY Milestones and Royalties - 2024 TRELEGY net sales reached $854 million, a 14% year-over-year increase, positioning the company to trigger a $50 million milestone in 2025[10, 27] - Theravance Biopharma could receive up to $150 million in TRELEGY sales milestones in 2025 and 2026[9, 27, 57] - To trigger the first $25 million milestone in 2025, Royalty Pharma needs to receive $260 million or more in royalty payments from GSK, equivalent to $3063 billion in TRELEGY global net sales[9] - Royalties from TRELEGY net sales, ranging from 5.5% to 8.5%, will return to Theravance Biopharma starting July 1, 2029 (ex-US) and January 1, 2031 (US), extending through the mid-2030s[32, 34, 57, 58] Financial Overview - Theravance Biopharma's cash and cash equivalents totaled $130.9 million at the end of Q1 2025, including a $50 million TRELEGY milestone payment received in February 2025, with no debt[10, 50, 57] - Non-GAAP net loss for Q1 2025 was $8.6 million, compared to $4.5 million for Q1 2024[45, 50] - VIATRIS collaboration revenue was $15.4 million in Q1 2025, compared to $14.5 million in Q1 2024[45, 50]