---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-093066"
form_type: "8-K"
ticker: "TBPH"
cik: "0001583107"
company_name: "Theravance Biopharma, Inc."
filed_at: "2026-08-10T12:35:01+00:00"
generated_at: "2026-08-10T12:40:11.717397+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Theravance Q2: YUPELRI collab revenue up 11% to $20.7M; non-GAAP ops income $9.5M; Zymeworks deal on track

## Summary
- Net loss $5.9M vs net income $54.8M in Q2 2025 (2025 included $75.1M gain on TRELEGY royalty sale); non-GAAP ops income $9.5M vs loss $4.2M.
- YUPELRI US net sales $70.7M (Viatris), up 7% YoY; collaboration revenue $20.7M, up 11% YoY; TRELEGY global net sales ~$1.0B in Q2.
- Opex down 35% YoY excl. restructuring/transaction costs; restructuring to cut opex ~60% vs 2025's $111.1M, ~$70M savings in 2H 2026.
- Zymeworks acquisition at $17.00/share cash plus CVR (80% of ampreloxetine monetization) expected to close 2H 2026; cash $388M, no debt.
- High confidence in $100M Royalty Pharma milestone if FY 2026 TRELEGY net sales reach ~$3.5B; FY 2025 $3.9B triggered $50M paid Feb 2026.

## SEC filing metadata
- accession: 0001104659-26-093066
- form_type: 8-K
- ticker: TBPH
- cik: 0001583107
- company_name: Theravance Biopharma, Inc.
- filed_at: 2026-08-10T12:35:01+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583107/000110465926093066/0001104659-26-093066-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583107/000110465926093066/tm2622638d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-093066
- JSON: https://secwatch.observer/filing/0001104659-26-093066.json
- Plain text: https://secwatch.observer/filing/0001104659-26-093066.txt

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