---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-026404"
form_type: "8-K"
ticker: "TBPH"
cik: "0001583107"
company_name: "Theravance Biopharma, Inc."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T22:09:50.663617+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Theravance Biopharma increases buyback to $325M, announces formal strategic review

## Summary
- Capital Return Program increased to $325M; $170M remaining expected by end of 2023; $27M repurchased YTD 2023.
- Q4 2022 YUPELRI sales $19.5M (up 27% YoY); TRELEGY global net sales $537M (up 13% YoY).
- Non-GAAP profit expected in 2H 2023; 2023 R&D guidance $35-45M, SG&A $45-55M.
- Appointed Susannah Gray (ex-Royalty Pharma CFO) to Board; Board declassification proposal submitted.
- Announced formal strategic review; responding to Irenic Capital's activist claims.

## SEC filing metadata
- accession: 0001104659-23-026404
- form_type: 8-K
- ticker: TBPH
- cik: 0001583107
- company_name: Theravance Biopharma, Inc.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583107/000110465923026404/0001104659-23-026404-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583107/000110465923026404/tm238017d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-026404
- JSON: https://secwatch.observer/filing/0001104659-23-026404.json
- Plain text: https://secwatch.observer/filing/0001104659-23-026404.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.