Theravance Biopharma upsizes buyback to $325M, cuts 17% staff, appoints new director

Theravance Biopharma, Inc.

Capital return program increased to $325M; $170M remaining; $155M repurchased to date.
Discontinuing research investments, reducing headcount by ~17%; inhaled JAK program to be partnered.
Q4 2022 YUPELRI net sales $19.5M (TBPH implied 35% share), up 27% YoY; total revenue $14.6M.
Appointed Susannah Gray to Board; William D. Young not standing for re-election; Board declassification proposal at May 2 AGM.
2023 guidance: R&D $35-45M, SG&A $45-55M; non-GAAP profit expected in 2H 2023.

item 2.02 item 9.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

William D. Young

Director

TBPH · Theravance Biopharma, Inc.

Filed: February 27, 2023, 6:59 PM ET

In addition, on February 26, 2023, William D. Young decided not to stand for re-election as a director at the Company’s next annual general meeting of shareholders.

Appointed

Susannah Gray

Director

TBPH · Theravance Biopharma, Inc.

Effective: 2023-02-26
Filed: February 27, 2023, 6:59 PM ET

On February 26, 2023, Susannah Gray was appointed by the Board of Directors of Theravance Biopharma, Inc. (the “Company”) to serve as a Class II member of the Board of Directors.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

William D. Young departed as Director at Theravance Biopharma, Inc..

Action: decided not to stand for re-election
Role: Director

Exact text from the filing

In addition, on February 26, 2023, William D. Young decided not to stand for re-election as a director at the Company’s next annual general meeting of shareholders.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Susannah Gray was appointed as Director at Theravance Biopharma, Inc..

Action: appointed
Role: Director

Exact text from the filing

On February 26, 2023, Susannah Gray was appointed by the Board of Directors of Theravance Biopharma, Inc. (the “Company”) to serve as a Class II member of the Board of Directors.

View on SEC.gov

Theravance Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-026064

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