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1. Company Snapshot

1.a. Company Description

Theravance Biopharma, Inc., a biopharmaceutical company, discovers, develops, and commercializes respiratory medicines in the United States, Europe, and Asia.The company offers YUPELRI, a once-daily, nebulized long-acting muscarinic antagonist used for the treatment of chronic obstructive pulmonary disease (COPD).Its product portfolio also include Izencitinib, a gut-selective pan-janus kinase (JAK) inhibitor that is in Phase IIb/III clinical trials for the treatment of rheumatoid arthritis, myelofibrosis, and ulcerative colitis, as well as for a range of inflammatory intestinal diseases, including ulcerative colitis and Crohn's disease.


In addition, the company's product portfolio comprise Ampreloxetine, an investigational norepinephrine reuptake inhibitor that has completed Phase III study for neurogenic orthostatic hypotension; Nezulcitinib, a lung-selective, nebulized JAK inhibitor, which is in Phase II clinical development for the potential treatment of hospitalized patients with acute lung injury caused by COVID-19; Inhaled ALK5i, a potential inhaled anti-fibrotic agent that is in Phase I for the treatment of idiopathic pulmonary fibrosis; and TD-5202, an investigational, orally administered, gut-selective, irreversible JAK3 inhibitor that is in Phase I clinical study for treatment of inflammatory intestinal diseases.Further, it offers TRELEGY for the treatment of COPD and asthma; Velusetrag, an oral and investigational medicine for gastrointestinal motility disorders; and Selective 5-HT4 Agonist for treatment of gastrointestinal motility disorders.It has a licensing and collaboration agreements with Pfizer Inc., Viatris Inc., Janssen Biotech, Inc., Alfasigma S.p.A, and Takeda Pharmaceutical Company Limited.


Theravance Biopharma, Inc.was incorporated in 2013 and is based in George Town, the Cayman Islands.

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1.b. Last Insights on TBPH

Theravance Biopharma's recent performance was driven by strong Q3 2025 earnings, beating estimates with quarterly earnings of $0.04 per share. YUPELRI net sales reached an all-time high of $71.4 million, up 15% year-over-year, and achieved record brand profitability. The company's collaboration income from Viatris related to Yupelri sales fueled 19% revenue growth. Additionally, the open-label portion of the pivotal Phase 3 CYPRESS study of ampreloxetine is complete, with a topline readout on track for Q1 2026.

1.c. Company Highlights

2. Theravance Biopharma's Q3 2025 Earnings: A Strong Performance

Theravance Biopharma reported a robust financial performance in Q3 2025, with collaboration revenue increasing to $20 million and operating expenses decreasing to $22 million, resulting in non-GAAP breakeven. The company's EPS came in at $0.04, beating estimates of -$0.03. The strong performance was driven by the continued growth of YUPELRI, with net sales and profitability reaching all-time highs. The company's cash position remains strong, with approximately $333 million in cash and no debt.

Publication Date: Nov -20

📋 Highlights
  • YUPELRI Net Sales Growth: Achieved record brand profitability, driving non-GAAP breakeven with $333M in cash and no debt.
  • 2025 Milestones: Expected $75M in Q4 from YUPELRI ($25M) and Trelegy ($50M), with Trelegy poised for $100M milestone in 2026.
  • Ampreloxetine Phase III: Top-line results from Cyprus study on track for 2026, targeting first precision therapy for nOH in MSA.
  • Financial Discipline: Operating expenses reduced to $22M, collaboration revenue rose to $20M, maintaining $333M cash balance.

Commercial Business Performance

The commercial business, YUPELRI, continues to deliver strong results, with net sales and profitability reaching all-time highs, driven by continued demand growth and favorable net pricing. The company also launched a new disease education campaign to raise awareness and deepen scientific understanding of nOH associated with MSA. The performance puts YUPELRI year-to-date sales on track to trigger a $25 million milestone from Viatris.

Pipeline Progress

Ampreloxetine, the company's precision therapy for symptomatic neurogenic orthostatic hypotension in patients with multiple system atrophy, is nearing a critical moment, with top-line results from the pivotal Phase III Cyprus study expected in 2026. The company remains confident in the execution of the Cyprus study and in ampreloxetine's potential to become the first precision therapy for patients with MSA who suffer from nOH. As Rick Winningham mentioned, "We are focused on executing the Cyprus study through the top-line results and then making future decisions on capital and capital return."

Valuation and Outlook

The company's valuation metrics suggest that the market is pricing in a certain level of growth. The P/E Ratio stands at 54.83, while the P/S Ratio is at 11.18. The EV/EBITDA ratio is 14.65, indicating a relatively high valuation. Analysts estimate next year's revenue growth at -19.4%. Despite this, the company's strong financial position and pipeline progress could potentially drive future growth. The Free Cash Flow Yield is 27.1%, indicating a decent return for investors.

Future Milestones

The company expects to achieve near-term milestones totaling $75 million in the fourth quarter, including $25 million for YUPELRI and $50 million for Trelegy. The strong growth trends for Trelegy bode well for the achievement of the $100 million milestone in 2026. With a robust balance sheet and clear visibility into near-term milestones, Theravance Biopharma is well-positioned for future growth.

3. NewsRoom

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Theravance Biopharma to Host Virtual KOL Investor Event to Review Ampreloxetine Phase 3 Clinical Development Program, Ahead of Topline Data in Q1 2026, on December 8, 2025

Nov -20

Source: prnewswire.com

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Theravance Biopharma to Participate in Upcoming Investor Conferences

Nov -19

Source: prnewswire.com

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Here's Why Shares in Theravance Biopharma Exploded Today

Nov -11

Source: fool.com

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Theravance's Q3 Earnings Surpass Estimates, Revenues Match

Nov -11

Source: zacks.com

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Theravance Biopharma, Inc. (TBPH) Q3 2025 Earnings Call Transcript

Nov -11

Source: seekingalpha.com

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Theravance Biopharma (TBPH) Q3 Earnings and Revenues Beat Estimates

Nov -11

Source: zacks.com

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Theravance Biopharma, Inc. Reports Third Quarter 2025 Financial Results and Provides Corporate Update

Nov -10

Source: prnewswire.com

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CRMD vs. TBPH: Which Small-Cap Biotech Stock Is the Better Buy?

Oct -30

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.27%)

6. Segments

Human Therapeutics

Expected Growth: 9.27%

Theravance Biopharma's Human Therapeutics segment growth of 9.27% is driven by increasing demand for its respiratory and gastrointestinal products, such as VIBATIV and YUPELRI, as well as the successful launch of new products like TRELEGY ELLIPTA. Additionally, strategic partnerships and collaborations have expanded the company's product portfolio and geographic reach, contributing to its growth momentum.

7. Detailed Products

YUPELRI

A nebulized LAMA (long-acting muscarinic antagonist) for the treatment of chronic obstructive pulmonary disease (COPD)

VIBATIV

A once-daily, injectable antibiotic for the treatment of hospital-acquired bacterial pneumonia (HABP) and ventilator-associated bacterial pneumonia (VABP)

TD-1473

An oral, gut-selective pan-Janus kinase (JAK) inhibitor for the treatment of inflammatory bowel disease (IBD)

TD-9855

A novel, orally administered, selective inhibitor of the norepinephrine transporter for the treatment of attention deficit hyperactivity disorder (ADHD)

8. Theravance Biopharma, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Theravance Biopharma, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the company's focus on developing novel medicines for serious and debilitating diseases.

Bargaining Power Of Customers

Theravance Biopharma, Inc. has a diverse customer base, including patients, healthcare providers, and payers, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

Theravance Biopharma, Inc. relies on a network of suppliers for raw materials, manufacturing, and logistics, but the company's scale and negotiating power mitigate the bargaining power of suppliers.

Threat Of New Entrants

The biopharmaceutical industry is highly competitive, and new entrants can easily disrupt the market with innovative products and technologies, posing a significant threat to Theravance Biopharma, Inc.'s market share.

Intensity Of Rivalry

The biopharmaceutical industry is highly competitive, with many established players and new entrants vying for market share, leading to intense rivalry among companies, including Theravance Biopharma, Inc.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 18.75%
Debt Cost 4.64%
Equity Weight 81.25%
Equity Cost 5.75%
WACC 5.54%
Leverage 23.08%

11. Quality Control: Theravance Biopharma, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Theravance Biopharma

A-Score: 5.4/10

Value: 4.0

Growth: 6.4

Quality: 7.1

Yield: 0.0

Momentum: 10.0

Volatility: 4.7

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Kiniksa Pharmaceuticals

A-Score: 5.0/10

Value: 0.9

Growth: 8.0

Quality: 6.8

Yield: 0.0

Momentum: 9.5

Volatility: 4.7

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Protagonist Therapeutics

A-Score: 4.7/10

Value: 0.2

Growth: 9.4

Quality: 8.0

Yield: 0.0

Momentum: 8.0

Volatility: 2.3

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G1 Therapeutics

A-Score: 3.7/10

Value: 6.0

Growth: 6.4

Quality: 4.2

Yield: 0.0

Momentum: 5.0

Volatility: 0.3

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Stock-Card
Immunome

A-Score: 3.6/10

Value: 6.4

Growth: 5.1

Quality: 4.7

Yield: 0.0

Momentum: 4.0

Volatility: 1.3

1-Year Total Return ->

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Stock-Card
Praxis Precision Medicines

A-Score: 3.5/10

Value: 6.0

Growth: 7.9

Quality: 4.7

Yield: 0.0

Momentum: 2.5

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

18.64$

Current Price

18.64$

Potential

-0.00%

Expected Cash-Flows