secwatch.observer — SEC 8-K summary
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Issuer:     Theravance Biopharma, Inc. (TBPH)
CIK:        0001583107
Form:       8-K
Filed at:   2026-08-10T12:35:01+00:00
Accession:  0001104659-26-093066
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1583107/000110465926093066/0001104659-26-093066-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1583107/000110465926093066/tm2622638d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-093066

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer