Cash position remained strong at approximately $340 million with near cash-neutral operations and expected $27 million in taxes related to the TRELEGY sale accrued in Q2.
Collaboration revenue grew 31% year-over-year, driven by YUPELRI sales growth and improved profit margins.
Non-GAAP losses improved to $4.2 million compared to $6.3 million in the prior year, excluding onetime items.
The company recognized a $7.5 million milestone payment following YUPELRI's regulatory approval in China.
Theravance Biopharma reported strong Q2 2025 financial results with YUPELRI net sales reaching approximately $66 million, a 22% year-over-year increase, marking the highest Q2 sales since launch.
Theravance completed the $225 million sale of its remaining TRELEGY royalty interest to GSK, recognizing $75 million of other income and strengthening the balance sheet.
2025 cash burn is expected to be approximately $150 million with full-year GAAP operating expenses around $230 million.
Cash, cash equivalents, and investments totaled $302.6 million as of June 30, 2025.
Cash runway extends into the second half of 2027, supporting ongoing operations and clinical trials.
Financial guidance excludes any impact from potential business development activities.
G&A expenses for Q2 2025 were $14.3 million, including $6.1 million in noncash stock-based compensation.
Net loss for Q2 2025 was $50.9 million or $0.23 per share, including $8.7 million noncash stock-based compensation and $2.4 million impairment charges.
R&D expenses for Q2 2025 were $40.2 million, including $2.6 million in noncash stock-based compensation.
Dafinchi