Theravance Biopharma, Inc. TBPH
Theravance Biopharma, Inc. ("we," "our," "Theravance Biopharma" or the "Company") is a biopharmaceutical company primarily focused on the development and commercialization of medicines. Our focus is to deliver medicines that make a difference® in people's lives.
In pursuit of our purpose, we leverage decades of expertise, which has led to the development of the United States ("US") Food and Drug Administration (the "FDA") approved YUPELRI® (revefenacin) inhalation solution indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease ("COPD").
On March 3, 2026, we announced that our ampreloxetine Phase 3 clinical study (CYPRESS) in development for the treatment of symptomatic neurogenic orthostatic hypotension in patients with multiple system atrophy did not meet its primary endpoint in the Orthostatic Hypotension Symptom Assessment composite score. As a result of this outcome, we have decided to wind down the ampreloxetine program.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Europe
| Region | FY2025 |
|---|---|
| United States | $75.0M |
| Europe | $32.5M |
As the company reported it, from the “Revenue - Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Revenue by segment
- Single Reportable Segment - Collaboration Agreement
- Single Reportable Segment - Licensing and Milestone
| Segment | FY2025 |
|---|---|
| Single Reportable Segment - Collaboration Agreement | $75.0M |
| Single Reportable Segment - Licensing and Milestone | $32.5M |
As the company reported it, from the “Segment Information - Tabular Disclosure (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $107.5M | $64.4M | $57.4M | $51.3M | $55.3M | $71.9M | $73.4M | $60.4M | $15.4M | $48.6M |
| Cost of revenue | — | — | — | — | — | — | — | — | $6.0M | $2.9M |
| Gross profit | — | — | — | — | — | — | — | — | $9.4M | $45.8M |
| R&D | $37.4M | $37.6M | $40.6M | $63.4M | $193.7M | $261.0M | $219.2M | $201.3M | $173.9M | $141.7M |
| SG&A | $73.7M | $69.2M | $70.1M | $67.1M | $99.3M | $108.5M | $106.1M | $97.1M | $95.6M | $84.5M |
| Total operating expenses | $111.1M | $111.3M | $113.5M | $143.3M | $313.1M | $369.5M | $325.3M | $299.1M | $275.5M | $229.1M |
| Operating income | -$3.6M | -$46.9M | -$56.0M | -$92.0M | -$257.8M | -$297.6M | -$251.9M | -$238.8M | -$260.1M | -$180.5M |
| Interest expense | $2.5M | $2.5M | $2.4M | $6.4M | $8.5M | $8.5M | $31.9M | $10.5M | $8.5M | $1.4M |
| Pre-tax income | $129.2M | -$44.6M | -$49.3M | -$92.8M | -$265.2M | -$303.3M | -$241.7M | -$226.1M | -$271.7M | -$180.6M |
| Income tax | $23.4M | $11.8M | $5.9M | $9.0K | $151.0K | $8.5M | $5.2M | $10.6M | $13.7M | $10.1M |
| Net income | $105.9M | -$56.4M | -$55.2M | $872.1M | -$199.4M | -$278.0M | -$236.5M | -$215.5M | -$285.4M | -$190.7M |
| EPS, basic | 2.10 | -1.15 | -1.00 | 11.85 | -2.87 | -4.46 | -4.25 | — | — | — |
| EPS, diluted | 2.06 | -1.15 | -1.00 | 11.85 | -2.87 | -4.46 | -4.25 | -3.99 | -5.45 | -4.26 |
| Shares, diluted (wtd. avg.) | 51.5M | 48.8M | 55.3M | 73.6M | 69.5M | 62.3M | 55.6M | 54.0M | 52.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $167.8M | $37.8M | $40.4M | $299.0M | $90.8M | $81.5M | $58.9M | $378.9M | $89.8M | $345.5M |
| Short-term investments | $147.6M | $50.6M | $62.9M | $29.3M | $83.5M | $211.5M | $222.8M | $127.3M | $259.6M | $156.4M |
| Receivables | — | — | — | — | — | — | — | $620.0K | $2.3M | $646.0K |
| Inventory | — | — | — | — | — | — | — | $0 | $16.8M | $12.2M |
| Total current assets | $418.5M | $161.1M | $133.5M | $353.5M | $249.9M | $393.3M | $338.5M | $532.8M | $378.7M | $528.5M |
| Property, plant and equipment | $5.9M | $7.4M | $9.1M | $11.9M | $13.7M | $16.4M | $12.6M | $13.2M | $10.2M | $8.5M |
| Total assets | $485.6M | $354.2M | $382.0M | $607.4M | $374.8M | $469.1M | $408.8M | $560.2M | $441.4M | $639.3M |
| Accounts payable | $2.6M | $2.2M | $1.5M | $1.6M | $3.1M | $6.8M | $4.8M | $9.0M | $5.9M | $1.7M |
| Total current liabilities | $38.3M | $32.1M | $24.8M | $28.7M | $58.6M | $123.6M | $111.7M | $98.6M | $62.6M | $49.3M |
| Long-term debt | — | — | $0 | — | $616.3M | $619.2M | $455.0M | $454.4M | $223.7M | — |
| Retained earnings | -$859.6M | -$965.5M | -$909.1M | -$853.9M | -$1.73B | -$1.53B | -$1.25B | -$1.01B | -$797.7M | -$512.2M |
| Total equity | $296.7M | $175.5M | $213.0M | $441.8M | -$338.6M | -$303.8M | -$223.8M | -$51.6M | $115.2M | $350.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $238.5M | -$11.5M | -$27.0M | -$187.0M | -$207.9M | -$250.4M | -$238.2M | -$112.9M | -$201.1M | -$99.0M |
| Depreciation and amortisation | $1.5M | $1.6M | $1.9M | $2.6M | $3.5M | $3.3M | $3.3M | $3.0M | $2.5M | $3.1M |
| Stock-based compensation | $18.5M | $21.4M | $25.4M | $39.7M | $62.1M | $63.0M | $60.5M | $51.3M | $49.1M | $41.2M |
| Capital expenditure | $42.0K | $332.0K | $2.5M | $572.0K | $3.4M | $6.6M | $3.2M | $7.2M | $2.4M | $2.1M |
| Investing cash flow | -$105.3M | $12.3M | -$32.7M | $1.15B | $124.5M | $10.7M | -$83.1M | $176.7M | -$56.3M | -$148.2M |
| Financing cash flow | -$3.2M | -$2.5M | -$198.9M | -$758.8M | $91.9M | $263.1M | $1.3M | $225.2M | $1.7M | $479.2M |
| Buybacks | — | $445.0K | $197.1M | $128.8M | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-050454.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.6M | $15.4M | $60.4M | $73.4M | $71.9M | $55.3M | $51.3M | $57.4M | $64.4M | $107.5M |
| Gross profit | $45.8M | $9.4M | — | — | — | — | — | — | — | — |
| Net income | -$190.7M | -$285.4M | -$215.5M | -$236.5M | -$278.0M | -$199.4M | $872.1M | -$55.2M | -$56.4M | $105.9M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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