Theravance Biopharma reports Q3 EPS (17c), consensus (21c)

Reports Q3 revenue $15.7M, consensus $15M. Cash, cash equivalents and marketable securities totaled $134M as of September 30, 2023. “We are pleased with the company’s bottom line performance in the third quarter, driven by a combination of continued YUPELRI growth and expense management, which positioned us to report a non-GAAP loss of less than $1 million,” said Rick E Winningham, CEO. “In addition, as we work with the MSA community to activate sites globally and enroll our Phase 3 CYPRESS study, our conviction in ampreloxetine’s potential to address unmet needs of MSA patients and caregivers burdened by symptomatic nOH remains strong.” “With her extensive contributions at Theravance and prior strategic development and regulatory leadership experience at Alkermes, Elan, and Allergan, Aine is well positioned to lead the Development organization through completion of the CYPRESS study, NDA submission and beyond,” said Rick E Winningham. “I am pleased that Rick will stay through February to ensure we meet our PIFR-2 commitments and maintain our momentum in CYPRESS but will miss his steadfast leadership and camaraderie – he has been an important partner in Theravance’s success.”