Theravance Biopharma (TBPH)
Market Price (2/6/2026): $19.57 | Market Cap: $988.7 MilSector: Health Care | Industry: Biotechnology
Theravance Biopharma (TBPH)
Market Price (2/6/2026): $19.57Market Cap: $988.7 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.58 | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -41% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 303%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 303% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 34x | |
| Attractive yieldFCF Yield is 25% | Stock price has recently run up significantly12M Rtn12 month market price return is 101% | |
| Low stock price volatilityVol 12M is 47% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% | |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. | Key risksTBPH key risks include [1] a high dependence on the clinical success of its pipeline candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 303%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 303% |
| Attractive yieldFCF Yield is 25% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.58 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -41% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 34x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 101% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 25% |
| Key risksTBPH key risks include [1] a high dependence on the clinical success of its pipeline candidate, Show more. |
Qualitative Assessment
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Theravance Biopharma (TBPH) stock has gained about 35% since 10/31/2025 because of the following key factors:
1. Strong Third Quarter 2025 Financial Performance and Milestone Achievements.
Theravance Biopharma reported robust financial results for the third quarter of 2025 on November 10, 2025. The company achieved an all-time high in U.S. net sales for YUPELRI, reaching $71.4 million, which marked a 15% increase year-over-year. Additionally, Theravance Biopharma achieved non-GAAP breakeven and maintained a strong balance sheet with $333 million in cash and no debt. The company was also on track to exceed full-year 2025 global net sales for TRELEGY, which would trigger a $50 million milestone payment from Royalty Pharma, and anticipated triggering a $25 million milestone for YUPELRI sales in Q4 2025.
2. Advancement of Ampreloxetine Program, Including Pivotal Phase 3 Progress and a Key Opinion Leader Event.
The company provided positive updates on its late-stage investigational drug, ampreloxetine, for symptomatic neurogenic orthostatic hypotension. Enrollment in the pivotal Phase 3 CYPRESS trial was completed in August 2025, with topline results anticipated in the first quarter of 2026. Theravance Biopharma further engaged investors by hosting a virtual Key Opinion Leader (KOL) event on December 8, 2025, to discuss the significant unmet need and the potential commercial opportunity of ampreloxetine.
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1. Strong Third Quarter 2025 Financial Performance and Milestone Achievements.
Theravance Biopharma reported robust financial results for the third quarter of 2025 on November 10, 2025. The company achieved an all-time high in U.S. net sales for YUPELRI, reaching $71.4 million, which marked a 15% increase year-over-year. Additionally, Theravance Biopharma achieved non-GAAP breakeven and maintained a strong balance sheet with $333 million in cash and no debt. The company was also on track to exceed full-year 2025 global net sales for TRELEGY, which would trigger a $50 million milestone payment from Royalty Pharma, and anticipated triggering a $25 million milestone for YUPELRI sales in Q4 2025.
2. Advancement of Ampreloxetine Program, Including Pivotal Phase 3 Progress and a Key Opinion Leader Event.
The company provided positive updates on its late-stage investigational drug, ampreloxetine, for symptomatic neurogenic orthostatic hypotension. Enrollment in the pivotal Phase 3 CYPRESS trial was completed in August 2025, with topline results anticipated in the first quarter of 2026. Theravance Biopharma further engaged investors by hosting a virtual Key Opinion Leader (KOL) event on December 8, 2025, to discuss the significant unmet need and the potential commercial opportunity of ampreloxetine.
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Stock Movement Drivers
Fundamental Drivers
The 33.6% change in TBPH stock from 10/31/2025 to 2/5/2026 was primarily driven by a 116.4% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.66 | 19.58 | 33.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 77 | 80 | 4.0% |
| Net Income Margin (%) | 16.9% | 36.5% | 116.4% |
| P/E Multiple | 56.4 | 33.7 | -40.3% |
| Shares Outstanding (Mil) | 50 | 51 | -0.7% |
| Cumulative Contribution | 33.6% |
Market Drivers
10/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| TBPH | 33.6% | |
| Market (SPY) | -0.7% | 7.3% |
| Sector (XLV) | 7.3% | 38.4% |
Fundamental Drivers
The 75.4% change in TBPH stock from 7/31/2025 to 2/5/2026 was primarily driven by a 44.9% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.16 | 19.58 | 75.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 65 | 80 | 23.1% |
| P/S Multiple | 8.5 | 12.3 | 44.9% |
| Shares Outstanding (Mil) | 50 | 51 | -1.6% |
| Cumulative Contribution | 75.4% |
Market Drivers
7/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| TBPH | 75.4% | |
| Market (SPY) | 7.5% | 17.5% |
| Sector (XLV) | 19.3% | 31.8% |
Fundamental Drivers
The 108.7% change in TBPH stock from 1/31/2025 to 2/5/2026 was primarily driven by a 69.2% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.38 | 19.58 | 108.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 63 | 80 | 27.1% |
| P/S Multiple | 7.3 | 12.3 | 69.2% |
| Shares Outstanding (Mil) | 49 | 51 | -2.9% |
| Cumulative Contribution | 108.7% |
Market Drivers
1/31/2025 to 2/5/2026| Return | Correlation | |
|---|---|---|
| TBPH | 108.7% | |
| Market (SPY) | 13.6% | 19.3% |
| Sector (XLV) | 6.8% | 22.7% |
Fundamental Drivers
The 81.1% change in TBPH stock from 1/31/2023 to 2/5/2026 was primarily driven by a 3412.0% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2052026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.81 | 19.58 | 81.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 80 | 55.5% |
| Net Income Margin (%) | 1646.8% | 36.5% | -97.8% |
| P/E Multiple | 1.0 | 33.7 | 3412.0% |
| Shares Outstanding (Mil) | 76 | 51 | 49.5% |
| Cumulative Contribution | 81.1% |
Market Drivers
1/31/2023 to 2/5/2026| Return | Correlation | |
|---|---|---|
| TBPH | 81.1% | |
| Market (SPY) | 72.9% | 19.3% |
| Sector (XLV) | 21.5% | 18.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TBPH Return | -38% | 2% | 0% | -16% | 99% | 7% | 13% |
| Peers Return | 16% | 11% | 24% | -5% | 17% | 6% | 88% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 83% |
Monthly Win Rates [3] | |||||||
| TBPH Win Rate | 42% | 58% | 42% | 42% | 58% | 100% | |
| Peers Win Rate | 50% | 52% | 56% | 50% | 60% | 88% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TBPH Max Drawdown | -62% | -25% | -25% | -32% | -12% | -3% | |
| Peers Max Drawdown | -13% | -12% | -11% | -10% | -11% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: INVA, REGN, VRTX, AMGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/5/2026 (YTD)
How Low Can It Go
| Event | TBPH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -69.9% | -25.4% |
| % Gain to Breakeven | 231.8% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -52.6% | -33.9% |
| % Gain to Breakeven | 111.1% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -63.3% | -19.8% |
| % Gain to Breakeven | 172.8% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to INVA, REGN, VRTX, AMGN
In The Past
Theravance Biopharma's stock fell -69.9% during the 2022 Inflation Shock from a high on 4/21/2021. A -69.9% loss requires a 231.8% gain to breakeven.
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About Theravance Biopharma (TBPH)
Theravance Biopharma, Inc., a biopharmaceutical company, discovers, develops, and commercializes respiratory medicines in the United States, Europe, and Asia. The company offers YUPELRI, a once-daily, nebulized long-acting muscarinic antagonist used for the treatment of chronic obstructive pulmonary disease (COPD). Its product portfolio also include Izencitinib, a gut-selective pan-janus kinase (JAK) inhibitor that is in Phase IIb/III clinical trials for the treatment of rheumatoid arthritis, myelofibrosis, and ulcerative colitis, as well as for a range of inflammatory intestinal diseases, including ulcerative colitis and Crohn's disease. In addition, the company's product portfolio comprise Ampreloxetine, an investigational norepinephrine reuptake inhibitor that has completed Phase III study for neurogenic orthostatic hypotension; Nezulcitinib, a lung-selective, nebulized JAK inhibitor, which is in Phase II clinical development for the potential treatment of hospitalized patients with acute lung injury caused by COVID-19; Inhaled ALK5i, a potential inhaled anti-fibrotic agent that is in Phase I for the treatment of idiopathic pulmonary fibrosis; and TD-5202, an investigational, orally administered, gut-selective, irreversible JAK3 inhibitor that is in Phase I clinical study for treatment of inflammatory intestinal diseases. Further, it offers TRELEGY for the treatment of COPD and asthma; Velusetrag, an oral and investigational medicine for gastrointestinal motility disorders; and Selective 5-HT4 Agonist for treatment of gastrointestinal motility disorders. It has a licensing and collaboration agreements with Pfizer Inc., Viatris Inc., Janssen Biotech, Inc., Alfasigma S.p.A, and Takeda Pharmaceutical Company Limited. Theravance Biopharma, Inc. was incorporated in 2013 and is based in George Town, the Cayman Islands.
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Analogy 1: Like Vertex Pharmaceuticals, but specializing in treatments for respiratory and inflammatory diseases.
Analogy 2: A focused biopharmaceutical company, similar to a smaller GSK, concentrating on developing and commercializing drugs for respiratory and inflammatory conditions.
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- TRELEGY ELLIPTA: A royalty-generating inhaled triple-therapy medication for the maintenance treatment of COPD and asthma, marketed by GSK.
- YUPELRI: A royalty-generating once-daily nebulized bronchodilator for COPD, marketed by Viatris.
- Ampreloxetine (TD-9855): An investigational drug in Phase 3 clinical trials for symptomatic neurogenic orthostatic hypotension (nOH).
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Theravance Biopharma (TBPH) is a biopharmaceutical company that primarily sells its products and intellectual property rights to other companies, often through collaboration and commercialization agreements.
Its major customer/partner is:
- Viatris Inc. (Symbol: VTRS)
Viatris Inc. is Theravance Biopharma's commercialization partner for YUPELRI® (revefenacin), a long-acting muscarinic antagonist (LAMA) for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD) in the U.S. Theravance Biopharma receives collaboration revenue, including royalties and milestone payments, from Viatris related to this partnership.
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Rick E. Winningham Chairman and Chief Executive Officer
Mr. Winningham has served as Chairman of the board of directors of Theravance Biopharma, Inc. since July 2013 and as Chief Executive Officer since its spin-off from Theravance, Inc. (later renamed Innoviva, Inc.) in June 2014. Prior to this, he was the Chief Executive Officer of Theravance, Inc. from October 2001 to August 2014, and also its Chairman from April 2010 to October 2014. From 1997 to 2001, he held leadership roles at Bristol-Myers Squibb, serving as President of Bristol-Myers Squibb Oncology/Immunology/Oncology Therapeutics Network and, from 2000 to 2001, as President of Global Marketing. Over a fifteen-year period starting in 1986, he held various U.S. and global management positions with Bristol-Myers Squibb and its predecessor. During his tenure at Bristol-Myers Squibb, he was involved in the development and commercialization of major pharmaceutical products.
Aziz Sawaf Senior Vice President and Chief Financial Officer
Mr. Sawaf has served as Chief Financial Officer and Senior Vice President of Operations Strategy since March 2025, having previously served as Chief Financial Officer from January 2023 to February 2025. He also held the position of Vice President of Finance and was a member of the Senior Leadership Team from October 2021 to December 2022. Mr. Sawaf joined Theravance Biopharma in June 2014 and has advanced through various finance roles within the company. Before joining Theravance Biopharma, he spent four years at Gilead Sciences in several finance roles supporting commercial and R&D organizations. Prior to Gilead Sciences, Mr. Sawaf worked at Amgen, in consulting, and in internet start-up finance.
Rhonda F. Farnum Senior Vice President, Commercial and Medical Affairs and Chief Business Officer
Ms. Farnum was appointed Chief Business Officer and Senior Vice President, Commercial and Medical Affairs in December 2021. She joined Theravance Biopharma in July 2018 as Vice President, Sales and Marketing. Before her time at Theravance Biopharma, Ms. Farnum led marketing efforts for multiple products in Amgen, Inc.'s oncology business unit from June 2015 to July 2018.
Brett A. Grimaud Senior Vice President, General Counsel and Secretary
Mr. Grimaud has served as Senior Vice President, General Counsel and Secretary since June 2022, after previously serving as Vice President and General Counsel from October 2021 to June 2022. He joined Theravance Biopharma in June 2014 and has held various roles of increasing responsibility within the legal organization. Before the spin-off from Innoviva, Mr. Grimaud was Senior Director and Senior Corporate Counsel at Innoviva from January 2012 to June 2014.
Áine Miller Senior Vice President, Development and Head of Ireland Office
Dr. Miller was appointed Senior Vice President of Development in November 2023, where she is responsible for leading the progression of late-stage clinical assets through regulatory filing and approval. She also serves as the head of the Theravance Biopharma Ireland office.
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The key risks to Theravance Biopharma (TBPH) are primarily related to its product pipeline and commercialization, financial viability, and the challenging regulatory and competitive landscape.
- Pipeline Development and Revenue Concentration: Theravance Biopharma's future prospects heavily depend on the successful clinical development and regulatory approval of its pipeline candidates, particularly ampreloxetine. There is a high degree of risk associated with clinical trials, and delays, such as those experienced with the Phase III CYPRESS study for ampreloxetine, can significantly impact the company's growth prospects. Furthermore, the company exhibits a high dependence on its sole marketed product, YUPELRI, for profit-sharing revenues. Any regulatory setbacks for pipeline candidates or the termination of collaboration agreements, such as a potential agreement termination with Viatris concerning YUPELRI, could severely hurt the company's financial performance and stock value.
- Financial Viability and Reimbursement Challenges: Theravance Biopharma faces significant financial risks, including a notable probability of bankruptcy within the next 24 months, influenced by its fundamentals and market conditions. A critical challenge is securing adequate coverage and reimbursement for its products, which is essential for market penetration and revenue generation. The intensifying cost-containment measures by payors and their scrutiny of drug pricing and value could undermine the company's profitability and commercial strategy.
- Regulatory and Competitive Environment: The biopharmaceutical industry operates within a tough regulatory environment, making the approval process for new pipeline candidates increasingly challenging. Additionally, Theravance Biopharma faces stiff competition in its target markets. Changes in the regulatory landscape, such as the US Inflation Reduction Act (IRA) of 2022, which allows for Medicare drug price negotiations, could negatively impact the pricing power and profitability of future small-molecule drugs developed by the company.
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Theravance Biopharma (TBPH) has key products and pipeline candidates addressing various markets:
- YUPELRI (revefenacin): This product is marketed in the U.S. for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD). The U.S. net sales for YUPELRI reached $238.6 million in fiscal year 2024. In the third quarter of 2025, U.S. net sales were $71.4 million. Globally, the COPD drug market surpassed $12 billion in 2020 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.5% through 2028. The estimated top-line revenues for YUPELRI could approach $700 million annually in five years with expanded adoption.
- TRELEGY (fluticasone furoate/umeclidinium/vilanterol - FF/UMEC/VI): Theravance Biopharma holds an economic interest in this product, which is partnered with GlaxoSmithKline (GSK) and approved for COPD and asthma. Global net sales for TRELEGY were approximately $3.46 billion in fiscal year 2024. The global respiratory market generated approximately $29 billion in 2022. In 2023, TRELEGY accounted for an estimated 45% of the triple inhaler market share in the U.S. and EU markets, with sales reaching approximately $2.8 billion globally. The COPD market in the seven major markets (U.S., France, Germany, Italy, Spain, UK, and Japan) is projected to grow from $11.5 billion in 2023 to $30.8 billion in 2033. Global sales for TRELEGY are forecasted to reach nearly $3.8 billion by 2027.
- Ampreloxetine: This is an investigational, once-daily norepinephrine reuptake inhibitor (NRI) in Phase 3 development for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA). This product has the potential to be a first-in-class therapy. A specific addressable market size in dollars for symptomatic nOH or MSA was not identified.
- TD-0714: This is an investigational anti-neprilysin drug in development for the treatment of chronic heart failure. The global anti-neprilysin market is estimated to be valued at $1,381.9 million in 2025 and is expected to reach $1,893.2 million by 2032, exhibiting a CAGR of 4.6% from 2025 to 2032. In the U.S. alone, there are six million patients diagnosed with chronic heart failure.
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Here are 3-5 expected drivers of future revenue growth for Theravance Biopharma (TBPH) over the next 2-3 years:- Continued Growth of YUPELRI (revefenacin) Sales: YUPELRI, a once-daily nebulized LAMA for COPD, has consistently demonstrated strong growth. In Q3 2025, U.S. net sales reached an all-time high of $71.4 million, increasing 15% year-over-year, driven by 6% year-over-year customer demand growth and improved net pricing due to a favorable channel mix. The hospital channel has been a significant contributor, with doses pulled through increasing by 29% year-over-year in Q3 2025. Theravance Biopharma's implied 35% share of YUPELRI net sales also increased by 15% in Q3 2025 compared to the same period in 2024. The company is also on track to trigger a $25 million milestone payment from Viatris if YUPELRI achieves $250 million in U.S. net sales for 2025.
- TRELEGY ELLIPTA Milestone Payments: While Theravance Biopharma sold its remaining royalty interest in TRELEGY ELLIPTA to GSK, it is still eligible for significant milestone payments based on global net sales. The company is on track to receive a $50 million milestone payment in 2025 if TRELEGY global net sales exceed approximately $3.4 billion. Furthermore, a $100 million milestone payment is anticipated in 2026 if global net sales reach approximately $3.5 billion.
- Potential Launch of Ampreloxetine: Ampreloxetine, an investigational treatment for symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), is a key pipeline asset. The open-label portion of the pivotal Phase 3 CYPRESS study is complete, and top-line data are expected in Q1 2026. Positive results could lead to an expedited New Drug Application (NDA) and a request for priority review, potentially paving the way for a new product launch and significant revenue generation in the future.
- International Expansion of YUPELRI: The approval of YUPELRI in China in Q2 2025 triggered a $7.5 million milestone payment from Viatris. This market expansion presents an opportunity for future revenue growth through tiered royalties of 14% to 20% on Chinese sales.
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Share Repurchases
- In September 2022, Theravance Biopharma initiated a $250 million capital return program.
- This program included the purchase of GSK's entire equity stake of approximately 9.6 million shares for about $93.6 million.
- By January 2024, the company had completed the repurchase of 31,414,836 shares for $325 million under the September 2022 buyback authorization.
Share Issuance
- In June 2021, Theravance Biopharma completed an offering of 7,705,000 ordinary shares at a price of $15.00 per share, generating $115.6 million in net proceeds.
- The proceeds from this offering were intended to support the development of clinical product candidates and for general working capital purposes.
Inbound Investments
- In July 2022, Theravance Biopharma sold its 85% economic interest in the sales-based royalty rights on worldwide net sales of GSK's TRELEGY ELLIPTA to Royalty Pharma for an upfront cash payment of approximately $1.1 billion.
- As part of the 2022 transaction, Royalty Pharma agreed to invest up to $40 million to support the clinical development of ampreloxetine, including a $25 million upfront payment.
- In June 2025, Theravance Biopharma sold its remaining royalty interest in Trelegy Ellipta to GSK for $225 million in cash, while retaining rights to receive up to $150 million in milestone payments from Royalty Pharma based on Trelegy sales in 2025 and 2026.
Capital Expenditures
- Capital expenditures were approximately -$239,000 in the last 12 months as of August 2025.
- Annual capital expenditures were approximately -$283.1K in 2024, -$975K in 2023, and $1.3M in 2022.
- The company's 2024 Form 10-K mentioned an impairment charge related to vivarium laboratory space and general laboratory space, indicating ongoing management of its facilities.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| With Theravance Biopharma Stock Surging, Have You Considered The Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 367.80 |
| Mkt Cap | 79.0 |
| Rev LTM | 11,723 |
| Op Inc LTM | 168 |
| FCF LTM | 3,337 |
| FCF 3Y Avg | 2,064 |
| CFO LTM | 3,718 |
| CFO 3Y Avg | 2,419 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.3% |
| Rev Chg 3Y Avg | 10.5% |
| Rev Chg Q | 12.4% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Mgn LTM | 24.1% |
| Op Mgn 3Y Avg | 26.2% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 36.5% |
| CFO/Rev 3Y Avg | 32.7% |
| FCF/Rev LTM | 32.1% |
| FCF/Rev 3Y Avg | 26.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 79.0 |
| P/S | 5.5 |
| P/EBIT | 17.8 |
| P/E | 28.2 |
| P/CFO | 15.1 |
| Total Yield | 6.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.4% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 7.0% |
| 3M Rtn | 17.4% |
| 6M Rtn | 31.2% |
| 12M Rtn | 18.3% |
| 3Y Rtn | 66.0% |
| 1M Excs Rtn | 9.1% |
| 3M Excs Rtn | 21.8% |
| 6M Excs Rtn | 24.0% |
| 12M Excs Rtn | 5.1% |
| 3Y Excs Rtn | -6.4% |
FDA Approved Drugs Data
Expand for More| Post-Approval Fwd Returns | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| FDA App # | Brand Name | Generic Name | Dosage Form | FDA Approval | 3M Rtn | 6M Rtn | 1Y Rtn | 2Y Rtn | Total Rtn |
| NDA022407 | VIBATIV | telavancin | injectable | 6212013 | |||||
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Development and commercialization of human therapeutics | 57 | ||||
| Collaboration revenue | 0 | 11 | 26 | 31 | |
| Licensing revenue | 2 | 2 | 28 | ||
| Viatris collaboration agreement | 49 | 44 | 44 | 14 | |
| Viatris royalties (Non-US) | 0 | ||||
| Total | 57 | 51 | 55 | 72 | 73 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Development and commercialization of human therapeutics | -56 | ||||
| Total | -56 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Development and commercialization of human therapeutics | -55 | ||||
| Total | -55 |
Price Behavior
Price Behavior
| Market Price | $19.58 | |
| Market Cap ($ Bil) | 1.0 | |
| First Trading Date | 05/16/2014 | |
| Distance from 52W High | -5.6% | |
| 50 Days | 200 Days | |
| DMA Price | $19.06 | $14.10 |
| DMA Trend | up | up |
| Distance from DMA | 2.7% | 38.8% |
| 3M | 1YR | |
| Volatility | 59.3% | 47.5% |
| Downside Capture | -18.07 | 61.87 |
| Upside Capture | 144.73 | 126.61 |
| Correlation (SPY) | 2.3% | 19.2% |
TBPH Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.87 | -0.57 | 0.22 | 0.61 | 0.47 | 0.52 |
| Up Beta | 1.45 | 2.50 | 1.11 | 0.96 | 0.21 | 0.19 |
| Down Beta | -1.22 | -1.70 | -1.35 | -0.08 | 0.25 | 0.52 |
| Up Capture | -82% | -60% | 153% | 165% | 135% | 48% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 21 | 34 | 71 | 126 | 374 |
| Down Capture | -160% | -36% | -3% | 8% | 70% | 88% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 20 | 27 | 52 | 119 | 357 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TBPH | |
|---|---|---|---|---|
| TBPH | 103.4% | 47.6% | 1.64 | - |
| Sector ETF (XLV) | 6.7% | 17.3% | 0.22 | 22.9% |
| Equity (SPY) | 13.6% | 19.3% | 0.54 | 19.7% |
| Gold (GLD) | 69.7% | 24.7% | 2.11 | 6.5% |
| Commodities (DBC) | 7.1% | 16.6% | 0.24 | 13.8% |
| Real Estate (VNQ) | 4.4% | 16.5% | 0.09 | 18.1% |
| Bitcoin (BTCUSD) | -26.6% | 40.5% | -0.66 | 13.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TBPH | |
|---|---|---|---|---|
| TBPH | 0.5% | 47.7% | 0.19 | - |
| Sector ETF (XLV) | 7.7% | 14.4% | 0.35 | 19.6% |
| Equity (SPY) | 14.4% | 17.0% | 0.67 | 21.9% |
| Gold (GLD) | 20.8% | 16.9% | 1.01 | 5.6% |
| Commodities (DBC) | 11.7% | 18.9% | 0.50 | 3.5% |
| Real Estate (VNQ) | 5.2% | 18.8% | 0.18 | 17.0% |
| Bitcoin (BTCUSD) | 16.0% | 57.4% | 0.49 | 9.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TBPH | |
|---|---|---|---|---|
| TBPH | 1.6% | 50.1% | 0.24 | - |
| Sector ETF (XLV) | 10.8% | 16.5% | 0.54 | 30.1% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 28.9% |
| Gold (GLD) | 15.4% | 15.5% | 0.83 | 2.5% |
| Commodities (DBC) | 7.9% | 17.6% | 0.37 | 10.9% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.26 | 21.6% |
| Bitcoin (BTCUSD) | 69.0% | 66.5% | 1.08 | 7.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | 22.7% | 19.6% | 17.2% |
| 8/12/2025 | 4.2% | 12.8% | 14.9% |
| 5/8/2025 | -9.3% | -7.7% | 10.6% |
| 2/26/2025 | 2.1% | 7.0% | 2.5% |
| 11/12/2024 | 8.6% | 11.3% | 10.8% |
| 8/5/2024 | -18.4% | -14.1% | -16.2% |
| 5/13/2024 | -2.0% | -5.0% | -9.8% |
| 2/26/2024 | 5.0% | -1.4% | -4.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 11 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 4.6% | 7.0% | 9.1% |
| Median Negative | -4.4% | -5.0% | -8.1% |
| Max Positive | 22.7% | 19.6% | 17.2% |
| Max Negative | -18.4% | -18.8% | -39.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/07/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/01/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Farnum, Rhonda | SVP, COMM & MEDICAL AFFAIRS | Direct | Sell | 12052025 | 18.75 | 31,067 | 582,501 | 5,206,733 | Form |
| 2 | Broshy, Eran | Direct | Sell | 12012025 | 20.00 | 29,501 | 590,020 | 894,060 | Form | |
| 3 | Broshy, Eran | Direct | Sell | 11132025 | 18.11 | 59,000 | 1,068,250 | 836,566 | Form | |
| 4 | Farnum, Rhonda | SVP, COMM & MEDICAL AFFAIRS | Direct | Sell | 7162025 | 11.39 | 10,000 | 113,870 | 3,722,599 | Form |
| 5 | Farnum, Rhonda | SVP, COMM & MEDICAL AFFAIRS | Direct | Sell | 6042025 | 11.00 | 24,000 | 264,000 | 3,706,098 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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