Ireland's Theravance Biopharma Q2 revenue rises 11% but misses estimates
TBPH•Outlook
- Theravance expects Zymeworks acquisition to close in second half of 2026
- Company expects full run-rate cost savings of $70 mln to materialize in 2H 2026
- Theravance expects to achieve $100 mln TRELEGY milestone payment in 2026 if sales threshold met
Result drivers
- YUPELRI sales - Collaboration revenue rose 11% yr/yr, driven by continued net sales growth and improved operating leverage from YUPELRI
- Cost reduction - Operating expenses fell 35% yr/yr due to organizational restructuring and cost reduction initiatives
- R&D and SG&A cuts - Lower R&D and SG&A expenses resulted from restructuring and wind-down of the CYPRESS clinical trial
Quarterly results
- Ireland-based specialty pharma's Q2 revenue rose 11% yr/yr but missed analyst expectations
- Adjusted net income for Q2 beat analyst estimates
- Company expects Zymeworks acquisition to close in 2H 2026, pending shareholder approval
