Theravance Biopharma TBPH reported fourth-quarter 2024 adjusted net loss of 5 cents per share, which came in line with the Zacks Consensus Estimate. In the year-ago quarter, the company had recorded earnings of 3 cents per share.

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The reported loss excludes share-based compensation expense, income tax expense and non-cash interest expense. Including these items, the company incurred a loss of 31 cents per share in the fourth quarter compared with a loss of 17 cents in the year-ago quarter.

Total revenues came in at $18.8 million, marginally beating the Zacks Consensus Estimate of $18.0 million. Revenues rose 6.8% year over year owing to increased collaboration revenues from partner Viatris VTRS.

TBPH’s Q4 Results in Detail

The top line fully comprised Viatris’ collaboration revenues in relation to Yupelri (revefenacin) sales. Viatris collaboration revenues rose 8% year over year in the fourth quarter.

Theravance and Viatris have collaborated for the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with chronic obstructive pulmonary disease.

Viatris and Theravance share U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris collaboration revenues include Theravance’s 35% share of net sales of Yupelri, as well as its proportionate amount of the total shared costs incurred by the two companies.

VTRS recognizes product sales from Yupelri and also owns a stake in Theravance. Viatris recorded $66.7 million in U.S. net sales of Yupelri, which rose 10% year over year in the quarter.

Theravance has some royalty interest in GSK plc’s GSK chronic obstructive pulmonary disease (COPD) medicine, Trelegy Ellipta. In February 2025, TBPH earned a $50 million milestone payment from partner Royalty Pharma based on Trelegy Ellipta’s net sales of $3.46 billion in 2024, as reported by GSK. In 2022, Theravance sold its economic interest in sales-based royalty rights on worldwide net sales of GSK Trelegy to Royalty Pharma while retaining some rights to certain future milestone payments.

Shares of Theravance have declined 6.4% in the past year compared with the industry’s decline of 15.4%.

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Research and development expenses (excluding share-based compensation) totaled $8.1 million, up almost 23% from the year-ago quarter’s level. Selling, general and administrative expenses (excluding share-based compensation) increased around 23% year over year to $14.1 million.

As of Dec. 31, 2024, Theravance had cash, cash equivalents and marketable securities worth $88.4 million compared with $91.4 million as of Sept. 30, 2024. The cash excludes the $50 million Trelegy milestone cash receipt from Royalty Pharma.

TBPH Issues 2025 Financial Guidance

Theravance expects to record adjusted R&D expenses (excluding share-based compensation) in the $32-$38 million range in 2025. Adjusted SG&A expenses (excluding share-based compensation) are projected between $50 million and $60 million.

TBPH continues to expect share-based compensation expenses of $18-$20 million in 2025.

TBPH expects both adjusted losses and cash burn in 2025 to be similar to 2024 levels when the company recorded an adjusted loss of $16 million and a cash burn of $14 million.

TBPH’s Pipeline & Other Updates

Theravance is developing an investigational candidate, ampreloxetine (TD-9855), a norepinephrine reuptake inhibitor for the treatment of neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), a progressive brain disorder.

The company initiated the phase III CYPRESS study evaluating ampreloxetine for nOH MSA in 2024. The CYPRESS study is expected to complete patient enrollment by mid-2025. Top-line data from the same is expected six months after enrollment is completed. TBPH plans to submit a new drug application (NDA) for ampreloxetine if the study data is found to be positive. Theravance plans to request the FDA to grant the NDA a priority review.

TBPH’s Zacks Rank & Stock to Consider

Theravance currently carries a Zacks Rank #4 (Sell). 

Theravance Biopharma, Inc. Price and Consensus

Theravance Biopharma, Inc. price-consensus-chart | Theravance Biopharma, Inc. Quote

A better-ranked stock from the biotech sector is Pacira BioSciences PCRX, which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 30 days, estimates for Pacira BioSciences’ 2025 earnings per share have risen from $3.11 to $3.59. In the past year, shares of PCRX have declined 14.7%.

Pacira BioSciences’ earnings beat estimates in two of the trailing four quarters, missed the same in one and met estimates in the remaining quarter. The average four-quarter earnings surprise was 7.13%.

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This article originally published on Zacks Investment Research (zacks.com).

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