Theravance Biopharma (TBPH) Misses Q1 EPS by 19c, Revenues Miss

Theravance Biopharma (NASDAQ: TBPH) reported Q1 EPS of ($1.24), $0.19 worse than the analyst estimate of ($1.05). Revenue for the quarter came in at $14.26 million versus the consensus estimate of $17.27 million.

"2021 is on track to be a transformational year as we make significant progress towards our business goals," said Rick E Winningham, Chief Executive Officer. "Our commercial assets provide cash flow to invest in our diversified clinical pipeline. GSK's TRELEGY continues an exceptional, unabated growth trajectory. Our YUPELRI team, with our partner Viatris, continues to drive performance despite pandemic-associated headwinds. While we experienced slightly down sequential quarter-over-quarter net sales results, our January 2021 market share was 19%—its highest level since launch—and we ended the quarter on a strong note with March volume demand demonstrating 28% growth over February."

"Additionally, we are focused on advancing development of our innovative and differentiated pipeline. We continue to progress nezulcitinib, our wholly-owned nebulized lung-selective pan-JAK inhibitor, our potentially best-in-class ampreloxetine for symptomatic neurogenic orthostatic hypotension and izencitinib, our oral gut-selective pan-JAK inhibitor for inflammatory bowel disease that is partnered with Janssen Pharmaceuticals. Our team is looking forward to four significant clinical readouts between now and Q1 2022: our Phase 2 nezulcitinib trial in Q2, our Phase 3 ampreloxetine and Phase 2b izencitinib Ulcerative Colitis trials each in Q3, and the Phase 2 izencitinib Crohn's disease trial in Q4/Q1 2022. We remain committed to delivering each of these clinical data sets with the highest quality as expeditiously as possible."

For earnings history and earnings-related data on Theravance Biopharma (TBPH) click here.

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