Mergers & Acquisitions ·
Theravance Biopharma reported second quarter 2026 financial results and provided a business update on August 10, 2026
TBPHTheravance Biopharma, Inc.
Theravance Biopharma reported second quarter 2026 financial results and provided a business update on August 10, 2026. The company announced a definitive agreement to be acquired by Zymeworks for $17.00 per share in cash plus contingent value rights related to ampreloxetine monetization, with closing expected in the second half of 2026 subject to shareholder approval. Q2 revenue was $20.7 million, an 11% increase year-over-year, driven by Viatris collaboration revenue from YUPELRI sales of $70.7 million. Operating expenses excluding restructuring and transaction costs decreased 35% year-over-year due to organizational restructuring initiatives expected to yield approximately $60-$70 million in annualized cash flow. The company ended the quarter with $388 million in cash and no debt, while reporting a net loss of $5.9 million compared to net income of $54.8 million in the prior year period primarily due to the absence of a previous milestone gain. Theravance Biopharma operates in the biotechnology industry, focusing on respiratory diseases with its commercial product YUPELRI and pipeline assets.