Theravance Biopharma Inc Q2 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Douglas Tsao - H.C. Wainwright & Co., LLC - Analyst : On the progress. I guess starting with YUPELRI, I guess, Rhonda, there were comments about sort of better pull-through this quarter. I'm just curious what you attribute that to? And then also on YUPELRI, I'm just curious, we've obviously made some progress in terms of sort of optimizing or improving the channel mix to improve pricing. I'm just curious, if you think about what sort of a realistic optimal channel mix, how far away are you from that? And how -- is it realistic to get there? And how long might that take to get? Rhonda Farnum - Theravance Biopharma Inc - Senior Vice President - Commercial and Medical Affairs, Chief Business Officer Thanks for the question, Doug. On the first note of continuing to improve the pull-through, that certainly is related to that move of volume that continues to move over to specialty pharmacy. And with that, I would say why that continues to help the support of the pull-through is certainly driven by two aspects. One, the pricing in that channel, but more importantly, the persistency and the support patients receive. So not only is fulfillment improved, but also persistency is much greater when fulfillment occurs in that space. As far as how much more to move and how quickly, we still continue to believe it's very important to ensure patients and health care providers have whatever option they feel is best for their individual needs. So keeping that open network still remains a strategic focus. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2025 / 9:00PM, TBPH.OQ - Q2 2025 Theravance Biopharma Inc Earnings Call However, ensuring that there's proper education to help clinicians make the best decision based on the patient needs, that will be, first and foremost, the priority.

Question: Julian Harrison - BTIG, LLC - Analyst : On all the recent progress. On YUPELRI in China, I'm curious if you could talk about the outlook for near-term growth. And can you remind us of the longer-term market opportunity there as well? And regarding CYPRESS, are you able to comment now on how US versus ex US enrollment has been trending? And when open-label enrollment is expected to be confirmed later this summer, should we expect any disclosure of baseline characteristics around that time? Or is that something being saved for top line disclosure?

Question: Ellen Horste - Cowen Inc. - Analyst : Congrats on the quarter. I'm wondering if you can speak to the pace of SG&A increases that you expect would be associated with ampreloxetine sales build-out between both now and the data and then how that might change on the back end of the data if the data is positive.

Question: David Risinger - Leerink Partners LLC - Analyst : I have a few questions, please. And congrats on the very strong financial performance. So with respect to the Viatris collaboration, so the revenue grew 31% on a 22% YUPELRI net sales increase. Should we expect continued operating leverage in coming quarters with collaboration revenue growing higher than YUPELRI sales? So that's the first question. And then with respect to ampreloxetine, I believe the Phase 3 trial's primary endpoint is a longer duration primary endpoint than previously studied. If you could just talk about that and whether you think that will -- or how that may impact the results versus results that have been previously reported. Meaning, as patients stay on drug longer, do they have any tachyphylaxis? Do they -- might they improve more over an extended -- a more extended period of time? Any perspective would be helpful.