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Theravance's Q3 Earnings Surpass Estimates, Revenues Match
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Key Takeaways
Theravance posted Q3 adjusted earnings of 4 cents per share, topping expectations.
Revenues climbed 19% year over year to $20 million, driven by higher Viatris collaboration income.
The Yupelri partnership with Viatris boosted results as U.S. sales of the drug rose 15% year over year in Q3.
Theravance Biopharma (TBPH - Free Report) reported third-quarter 2025 adjusted earnings of 4 cents per share against the Zacks Consensus Estimate of a loss of 3 cents. In the year-ago quarter, the company had incurred an adjusted loss of 6 cents per share.
Total revenues in the third quarter came in at $20 million, which were in line with the Zacks Consensus Estimate. Revenues surged 19% year over year, owing to increased collaboration revenues from partner Viatris (VTRS - Free Report) .
Year to date, shares of Theravance have rallied 60.2% compared with the industry’s rise of 2.7%.
Image Source: Zacks Investment Research
TBPH’s Q3 Earnings in Detail
The top line solely comprised Viatris’ collaboration revenues in relation to Yupelri (revefenacin) sales during the reported quarter.
Theravance and VTRS have collaborated for the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with chronic obstructive pulmonary disease.
Viatris and Theravance share U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris' collaboration revenues include Theravance’s 35% share of net sales of Yupelri, as well as its proportionate amount of the total shared costs incurred by the two companies.
VTRS recognizes product sales from Yupelri and also owns a stake in Theravance. Viatris recorded $71.4 million in U.S. net sales of Yupelri in the third quarter, up 15% year over year, driven by continued growth in demand.
Research and development expenses (excluding share-based compensation) totaled $7 million, down almost 14.6% from the year-ago quarter’s level. Selling, general and administrative expenses (excluding share-based compensation) increased around 13.8% year over year to $14.8 million.
As of Sept. 30, 2025, Theravance had cash, cash equivalents and marketable securities worth $332.7 million compared with $338.8 million as of June 30, 2025.
TBPH's 2025 Financial Guidance
Theravance reaffirmed its financial guidance for 2025.
The company continues to expect adjusted R&D expenses (excluding share-based compensation) in the $32-$38 million range in 2025. Adjusted SG&A expenses (excluding share-based compensation) are still projected between $50 million and $60 million.
Theravance continues to expect share-based compensation expenses of $18-$20 million in 2025.
TBPH expects the adjusted margin in the fourth quarter of 2025 to be similar to third-quarter levels. The company achieved breakeven adjusted net income in the third quarter of 2025.
TBPH's Pipeline & Other Updates
Theravance is developing an investigational candidate, ampreloxetine, a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), a progressive brain disorder.
The pivotal phase III CYPRESS study is evaluating ampreloxetine for nOH MSA. Enrollment in the CYPRESS study was completed recently, with top-line data from the same expected in the first quarter of 2026.
Theravance is planning for an expedited new drug application (NDA) filing for ampreloxetine if the study data are found to be positive. The company plans to request the FDA to grant the NDA a priority review.
Theravance Biopharma, Inc. Price, Consensus and EPS Surprise
In the past 60 days, estimates for Akebia Therapeutics’ earnings per share have increased from 3 cents to 5 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 23 cents to 31 cents. Year to date, shares of AKBA have lost 12.1%.
Akebia Therapeutics’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, the average surprise being 43.75%.
In the past 60 days, estimates for Relay Therapeutics’ loss per share have narrowed from $1.62 to $1.59 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.56 to $1.52. Year to date, shares of RLAY have gained 49.5%.
Relay Therapeutics’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, the average surprise being 8.78%.
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Theravance's Q3 Earnings Surpass Estimates, Revenues Match
Key Takeaways
Theravance Biopharma (TBPH - Free Report) reported third-quarter 2025 adjusted earnings of 4 cents per share against the Zacks Consensus Estimate of a loss of 3 cents. In the year-ago quarter, the company had incurred an adjusted loss of 6 cents per share.
Total revenues in the third quarter came in at $20 million, which were in line with the Zacks Consensus Estimate. Revenues surged 19% year over year, owing to increased collaboration revenues from partner Viatris (VTRS - Free Report) .
Year to date, shares of Theravance have rallied 60.2% compared with the industry’s rise of 2.7%.
Image Source: Zacks Investment Research
TBPH’s Q3 Earnings in Detail
The top line solely comprised Viatris’ collaboration revenues in relation to Yupelri (revefenacin) sales during the reported quarter.
Theravance and VTRS have collaborated for the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with chronic obstructive pulmonary disease.
Viatris and Theravance share U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris' collaboration revenues include Theravance’s 35% share of net sales of Yupelri, as well as its proportionate amount of the total shared costs incurred by the two companies.
VTRS recognizes product sales from Yupelri and also owns a stake in Theravance. Viatris recorded $71.4 million in U.S. net sales of Yupelri in the third quarter, up 15% year over year, driven by continued growth in demand.
Research and development expenses (excluding share-based compensation) totaled $7 million, down almost 14.6% from the year-ago quarter’s level. Selling, general and administrative expenses (excluding share-based compensation) increased around 13.8% year over year to $14.8 million.
As of Sept. 30, 2025, Theravance had cash, cash equivalents and marketable securities worth $332.7 million compared with $338.8 million as of June 30, 2025.
TBPH's 2025 Financial Guidance
Theravance reaffirmed its financial guidance for 2025.
The company continues to expect adjusted R&D expenses (excluding share-based compensation) in the $32-$38 million range in 2025. Adjusted SG&A expenses (excluding share-based compensation) are still projected between $50 million and $60 million.
Theravance continues to expect share-based compensation expenses of $18-$20 million in 2025.
TBPH expects the adjusted margin in the fourth quarter of 2025 to be similar to third-quarter levels. The company achieved breakeven adjusted net income in the third quarter of 2025.
TBPH's Pipeline & Other Updates
Theravance is developing an investigational candidate, ampreloxetine, a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), a progressive brain disorder.
The pivotal phase III CYPRESS study is evaluating ampreloxetine for nOH MSA. Enrollment in the CYPRESS study was completed recently, with top-line data from the same expected in the first quarter of 2026.
Theravance is planning for an expedited new drug application (NDA) filing for ampreloxetine if the study data are found to be positive. The company plans to request the FDA to grant the NDA a priority review.
Theravance Biopharma, Inc. Price, Consensus and EPS Surprise
Theravance Biopharma, Inc. price-consensus-eps-surprise-chart | Theravance Biopharma, Inc. Quote
TBPH's Zacks Rank & Stocks to Consider
Theravance currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the drug sector are Akebia Therapeutics (AKBA - Free Report) and Relay Therapeutics (RLAY - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Akebia Therapeutics’ earnings per share have increased from 3 cents to 5 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 23 cents to 31 cents. Year to date, shares of AKBA have lost 12.1%.
Akebia Therapeutics’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, the average surprise being 43.75%.
In the past 60 days, estimates for Relay Therapeutics’ loss per share have narrowed from $1.62 to $1.59 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.56 to $1.52. Year to date, shares of RLAY have gained 49.5%.
Relay Therapeutics’ earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, the average surprise being 8.78%.