Markets

Theravance Biopharma Posts Wider-than-Expected Q3 Loss

An image of some coins and die
Credit: Shutterstock photo

Theravance Biopharma, Inc.TBPH reported third-quarter 2015 loss of $1.40 per share, narrower than a loss of $1.72 per share incurred a year ago. The Zacks Consensus Estimate was a loss of $1.33.

Theravance Bioph (TBPH) - Earnings Surprise | FindTheCompany

Total revenues in the third quarter of 2015 were approximately $10.7 million, up from $6.3 million in the year-ago quarter. The Zacks Consensus Estimate was $3 million.

Theravance Biopharma's sole marketed product, Vibativ, generated revenues of $2.3 million in the third quarter of 2015, up 9% sequentially.

Revenue from collaborations is related to the license granted to Trek Therapeutics for TD-6450 and Vibativ collaborations outside the U.S. Earlier this year, Theravance entered into a development and commercialization agreement with SciClone Pharmaceuticals, Inc. SCLN for Vibativ. As per the terms of the agreement, SciClone will receive exclusive development and commercial rights to Vibativ in China and certain adjacent territories.

Research & development expenses were $30.4 million in the reported quarter compared with $38.3 million in the year-ago period. The decrease was primarily due to a decrease in program-related expense due to the reimbursement of expenses associated with the Mylan MYL collaboration for revefenacin. Selling, general & administrative expenses increased to $22.8 million from $17.7 million driven by Vibativ commercialization costs.

2015 Guidance

Vibativ related revenues in 2015 are expected to be $15 million (previous guidance: $15-$18 million), with majority of revenues from net product sales in the U.S., which are expected to be $9 million (previous guidance: $9-$12 million).

Theravance Biopharma is set to boost sales representatives and medical science liaisons from the beginning of the fourth quarter, which should boost its top line. Meanwhile, investor focus is expected to remain on pipeline updates with six phase III studies' readouts expected in 2016 and 2017. In addition, the company has an economic interest in future payments that may be made by GlaxoSmithKline plc GSK .

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

GLAXOSMITHKLINE (GSK): Free Stock Analysis Report

MYLAN NV (MYL): Free Stock Analysis Report

THERAVANCE BIO (TBPH): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

GSK TBPH

Other Topics

Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More