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Theravance Biopharma, Inc. (NASDAQ: TBPH) has announced its financial results for the third quarter ending on September 30, 2015.
Theravance Biopharma, Inc. (NASDAQ:TBPH) has announced its financial results for the third quarter ending on September 30, 2015.
According to the press release:
Revenue for the third quarter of 2015 was $10.7 million. Net loss for the third quarter of 2015 was $47.3 million, or $1.40 per share. Cash, cash equivalents, and marketable securities, excluding restricted cash, totaled $196.0 million as of September 30, 2015. The quarter-end cash balance excludes $55.0 million of gross proceeds from the recently completed sale of ordinary shares by the Company and $19.6 million in receivables from collaborative arrangements.
“We continue to make important progress advancing key programs in our pipeline and executing our commercial strategy for VIBATIV®,” said Rick E Winningham, Chairman and Chief Executive Officer. “We filed two INDs for novel product candidates — our neprilysin inhibitor TD-0714 for cardiovascular and renal diseases and our GI-targeted pan-JAK inhibitor TD-1473 for ulcerative colitis — both of which are advancing to Phase 1 studies late in 2015 or early 2016. We initiated all three studies comprising the Phase 3 program for revefenacin, previously known as TD-4208, in chronic obstructive pulmonary disease, or COPD. We completed the hiring and training of additional VIBATIV sales representatives and medical science liaisons, all of whom were deployed in the field by the beginning of the fourth quarter. In summary, we are pleased with our performance to date and are excited to enter 2016. With six Phase 3 studies expected to read out in 2016 and 2017, multiple Phase 2 programs advancing, high value research programs progressing into the clinic, a productive research organization and a strong financial position, the Company is well positioned for near- and long-term growth.”
Click here to read the full press release.