In This Article:
Release Date: May 08, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Theravance Biopharma Inc (NASDAQ:TBPH) reported a 6% increase in net sales for the first quarter, driven by demand growth and favorable pricing.
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Hospital doses increased by 48% year-over-year, indicating strong momentum in the hospital channel.
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The company is on track to achieve a $50 million milestone from Royalty Pharma in 2025 due to strong sales of Trilogy.
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Theravance Biopharma Inc (NASDAQ:TBPH) ended the quarter with $131 million in cash and no debt, highlighting a strong financial position.
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The company is making significant progress in the Cypress trial, with expectations to complete enrollment by late summer and topline data available six months later.
Negative Points
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Operating expenses increased to $25 million this quarter, driven by higher R&D and SG&A costs.
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There are ongoing litigation issues with three outstanding litigants regarding paragraph IV filings for UPLRY.
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The company anticipates a one-time tax payment in Q2 related to the $50 million Trilogy milestone, which will impact cash burn.
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The manufacturing of Amproloxetine's API is outside the United States, which may require adjustments due to potential policy changes.
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Despite strong hospital performance, there is a need for improved transition of care to ensure hospital prescriptions translate into chronic prescriptions.
Q & A Highlights
Q: Can you provide a status update on the current plan for manufacturing and the location of the IP for amproloxetine? A: The IP for amproloxetine is currently in Ireland, and the manufacturing of the API is outside the United States, in Taiwan. We have flexibility and time to adjust our supply chain as needed. - Rick Buntingham, CEO
Q: What efforts are being made to increase the rate at which hospital prescriptions turn into filled chronic prescriptions once the patient leaves? A: We focus on ensuring patients leave the hospital with a script and receive support through patient fulfillment programs. Our transition of care voucher program plays a critical role in ensuring patients move quickly through fulfillment and onto maintenance care. - Rhonda Farnham, Chief Business Officer
Q: Have you received any feedback from payers on amproloxetine and NOH, and what endpoints do you expect payers to be most receptive to? A: We have started engaging with payers to educate them on the disease burden and the role amproloxetine can play. The composite score reflecting overall well-being and functionality is significant and has not been demonstrated before, which could be advantageous. - Rhonda Farnham, Chief Business Officer and Rick Buntingham, CEO