Theravance Biopharma Reports Exceptional Financial Growth for Q4 and Full Year 2024
Theravance Biopharma, Inc. announced remarkable financial results for the fourth quarter and the entire year of 2024, showcasing an impressive growth trajectory. The company's US net sales of YUPELRI® (revefenacin) reached a record high of $66.7 million in Q4 2024, marking a significant 10% increase from the same period last year. Over the full fiscal year, YUPELRI's total sales hit $238.6 million, an 8% rise compared to 2023. This stellar performance can be attributed to the effective collaboration between Theravance Biopharma and Viatris, focusing on the hospital market where customer demand surged by an astonishing 49% year-over-year.
CEO Rick E Winningham expressed his enthusiasm regarding the results, emphasizing the successful execution of their commercial strategy which has effectively positioned YUPELRI for continued growth into 2025 and beyond. Alongside this, the financial results were bolstered by a $50 million milestone payment triggered by the significant sales of GSK's TRELEGY, which reported net sales of $3.46 billion for FY 2024—a notable 26% increase over the previous year. This achievement further strengthens Theravance's fiscal position as they concluded the fourth quarter with $88 million in cash.
The progress toward completing the pivotal CYPRESS study also remains on track, with expectations to enroll the final patient in mid-2025 and potential data release anticipated shortly thereafter. Ampreloxetine, an investigational drug for treating neurogenic orthostatic hypotension in patients suffering from multiple system atrophy, continues to garner attention as the need for effective therapeutic options in this area is significant. The company is actively preparing for a New Drug Application (NDA) submission, contingent upon the study's favorable results.
In terms of operational expenses, Theravance reported a net loss of $15.5 million for Q4 2024, a decline compared to a loss of $8.5 million in Q4 2023. On a brighter note, their non-GAAP net loss narrowed to $2.5 million, compared to a non-GAAP net income of $1.4 million a year prior. The company remains optimistic about controlling expenses moving into 2025 with anticipated research and development costs estimated between $32 million and $38 million.
As part of their strategic focus, Theravance Biopharma has formed a Strategic Review Committee, comprised entirely of independent directors, to explore various approaches to maximize shareholder value. This ongoing assessment emphasizes the company’s commitment to evolving its operational strategies, especially amidst impressive growth rates observed in their product portfolio. With the launch of YUPELRI being a clear success and the promising future of Ampreloxetine on the horizon, Theravance Biopharma is positioning itself as a key player in the pharmaceutical landscape, ensuring that they continue to deliver life-enhancing medications for patients who need them the most.
CEO Rick E Winningham expressed his enthusiasm regarding the results, emphasizing the successful execution of their commercial strategy which has effectively positioned YUPELRI for continued growth into 2025 and beyond. Alongside this, the financial results were bolstered by a $50 million milestone payment triggered by the significant sales of GSK's TRELEGY, which reported net sales of $3.46 billion for FY 2024—a notable 26% increase over the previous year. This achievement further strengthens Theravance's fiscal position as they concluded the fourth quarter with $88 million in cash.
The progress toward completing the pivotal CYPRESS study also remains on track, with expectations to enroll the final patient in mid-2025 and potential data release anticipated shortly thereafter. Ampreloxetine, an investigational drug for treating neurogenic orthostatic hypotension in patients suffering from multiple system atrophy, continues to garner attention as the need for effective therapeutic options in this area is significant. The company is actively preparing for a New Drug Application (NDA) submission, contingent upon the study's favorable results.
In terms of operational expenses, Theravance reported a net loss of $15.5 million for Q4 2024, a decline compared to a loss of $8.5 million in Q4 2023. On a brighter note, their non-GAAP net loss narrowed to $2.5 million, compared to a non-GAAP net income of $1.4 million a year prior. The company remains optimistic about controlling expenses moving into 2025 with anticipated research and development costs estimated between $32 million and $38 million.
As part of their strategic focus, Theravance Biopharma has formed a Strategic Review Committee, comprised entirely of independent directors, to explore various approaches to maximize shareholder value. This ongoing assessment emphasizes the company’s commitment to evolving its operational strategies, especially amidst impressive growth rates observed in their product portfolio. With the launch of YUPELRI being a clear success and the promising future of Ampreloxetine on the horizon, Theravance Biopharma is positioning itself as a key player in the pharmaceutical landscape, ensuring that they continue to deliver life-enhancing medications for patients who need them the most.
Topics Health）
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