Theravance Biopharma's YUPELRI approved by China's NMPA; $7.5M milestone triggered

Theravance Biopharma, Inc.

China's NMPA approved YUPELRI (revefenacin) as first once-daily nebulized LAMA for COPD maintenance.
Approval triggers $7.5M milestone from Viatris, expected Q3 2025; eligible for up to $37.5M in sales milestones and 14-20% tiered royalties.
Viatris responsible for all development/commercialization; Theravance incurs no commercial costs in China.
Theravance cash $131M (Mar 31), plus $225M from TRELEGY royalty sale and up to $150M near-term TRELEGY milestones.
Theravance nearing completion of enrollment in open-label portion of CYPRESS study of ampreloxetine for nOH in MSA.

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