Theravance Biopharma Inc Stock Research

Market Summary

USD10.52+0.18

Market Closed

1.74%

TBPH Alerts

Big jump in Earnings (Y/Y)
Losses in recent quarter

TBPH Stock Price

TBPH RSI Chart

TBPH Valuation

Market Cap

686.2M

Price/Earnings (Trailing)

0.79

Price/Sales (Trailing)

13.36

EV/EBITDA

-4.48

Price/Free Cashflow

-3.67

TBPH Price/Sales (Trailing)

TBPH Profitability

EBT Margin

-180.76%

Return on Equity

197.4%

Return on Assets

143.58%

Free Cashflow Yield

-27.25%

TBPH Fundamentals

TBPH Revenue

Revenue (TTM)

51.3M

Revenue Y/Y

-1.99%

Revenue Q/Q

17.65%

TBPH Earnings

Earnings (TTM)

872.1M

Earnings Y/Y

67.65%

Earnings Q/Q

-101.13%

Price Action

52 Week Range

7.5311.83

(Low)(High)

Last 7 days

-1.8%

Last 30 days

3.9%

Last 90 days

-6.9%

Trailing 12 Months

5.5%

TBPH Financial Health

Current Ratio

12.31

TBPH Investor Care

Buy Backs (1Y)

12.37%

Diluted EPS (TTM)

11.23

Peers (Alternatives to Theravance Biopharma)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JNJ	401.1B	94.9B	-3.25%	-11.17%	22.36	4.23	1.25%	-14.07%
LLY	302.8B	28.5B	2.15%	17.94%	48.48	10.61	0.79%	11.88%
MRK	272.8B	59.3B	-3.99%	33.34%	17.88	4.63	21.72%	11.27%
PFE	226.5B	100.3B	-4.70%	-21.30%	7.22	2.26	23.43%	42.74%
BMY	143.9B	46.2B	-5.09%	-4.47%	22.74	3.12	-0.49%	-9.54%
MID-CAP
PRGO	4.6B	4.5B	-7.51%	-10.48%	-32.41	1.02	7.56%	-104.06%
SMALL-CAP
PRVB	2.1B	2.8M	167.83%	203.17%	-19.6	748.91	245.83%	12.43%
PCRX	1.8B	666.8M	-7.47%	-48.23%	112.99	2.7	23.14%	-62.10%
TLRY	1.6B	602.5M	-7.75%	-62.41%	-2.78	2.67	18.18%	-18.59%
CGC	923.6M	478.9M	-20.50%	-75.95%	-0.29	1.93	-31.50%	-634.70%
AERI	753.2M	213.9M	0.39%	48.49%	-20.6	3.52	105.41%	78.04%
CRON	738.3M	114.5M	-10.60%	-51.38%	-4.38	6.45	27.90%	57.40%
TBPH	686.2M	51.3M	3.85%	5.52%	0.79	13.36	-7.17%	537.32%
NGM	311.2M	55.3M	-19.49%	-76.66%	-1.91	5.63	-29.00%	-35.18%

Financials for Theravance Biopharma

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-0.6%	51,346,000	51,643,000	52,386,000	54,250,000	55,311,000
Operating Expenses	-20.8%	148,361,000	187,393,000	227,549,000	266,644,000	313,095,000
S&GA Expenses	-9.2%	67,073,000	73,900,000	78,922,000	87,867,000	99,296,000
R&D Expenses	-20.7%	63,392,000	79,917,000	113,789,000	149,311,000	193,657,000
EBITDA	-466.3%	-86,446,000	23,601,000	-6,096,000	-98,876,000	-
EBITDA Margin	-468.4%	-1.68	0.46	-0.12	-1.82	-
Earnings Before Taxes	-121.2%	-92,815,000	-41,962,000	-81,856,000	-126,285,000	-199,577,000
EBT Margin	-122.5%	-1.81	-0.81	-1.56	-2.68	-
Interest Expenses	-90.3%	6,369,000	65,563,000	66,154,000	65,882,000	46,889,000
Net Income	2.5%	872,132,000	850,460,000	-101,479,000	-145,693,000	-199,426,000
Net Income Margin	3.1%	16.99	16.47	-1.94	-2.69	-
Free Cahsflow	-77.5%	-186,991,000	-105,370,000	-128,679,000	-164,062,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-20.4%	607	763	361	355	375
Current Assets	-30.9%	353	512	155	205	250
Cash Equivalents	-28.6%	299	419	87.00	94.00	90.00
Net PPE	-0.1%	12.00	12.00	13.00	13.00	14.00
Current Liabilities	-79.8%	29.00	142	33.00	44.00	59.00
Shareholder's Equity	-8.1%	442	481	-338	-	-
Retained Earnings	-1.2%	-853	-843	-1,760	-1,751	-1,726
Additional Paid-In Capital	-2.2%	1,296	1,324	1,410	1,401	1,387
Shares Outstanding	-3.2%	65.00	67.00	76.00	76.00	74.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-77.5%	-186	-105	-128	-164	-207
Share Based Compensation	-20.1%	40.00	50.00	56.00	61.00	62.00
Cashflow From Investing	2.5%	1,154	1,126	14.00	43.00	124
Cashflow From Financing	-4.9%	-758	-723	-3.44	102	92.00
Buy Backs	-65.8%	129	376	-	-	-

Risks for TBPH

What is the probability of a big loss on TBPH?

95.4%

Probability that Theravance Biopharma stock will be more than 20% underwater in next one year

91.9%

Probability that Theravance Biopharma stock will be more than 30% underwater in next one year.

57.7%

Probability that Theravance Biopharma stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TBPH drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Theravance Biopharma was unfortunately bought at previous high price.

Drawdowns

Returns for TBPH

Cumulative Returns on TBPH

-6.6%

7-Year Cumulative Returns

-16.6%

5-Year Cumulative Returns

-23.5%

3-Year Cumulative Returns

What are the long-term rolling returns for TBPH?

FIve years rolling returns for Theravance Biopharma.

Annualized Returns

Which funds bought or sold TBPH recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	43.61	659,033	1,778,030	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	28,148	291,148	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-2.47	166,000	2,343,000	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	unchanged	-	84,187	872,187	-%
2023-02-15	JANE STREET GROUP, LLC	reduced	-23.06	-286,152	1,639,850	-%
2023-02-15	Point72 Middle East FZE	new	-	40,942	40,942	-%
2023-02-14	MILLENNIUM MANAGEMENT LLC	added	3.83	982,000	7,579,000	-%
2023-02-14	Irenic Capital Management LP	new	-	19,084,500	19,084,500	9.15%
2023-02-14	Bank of New York Mellon Corp	added	2.98	290,107	2,374,110	-%
2023-02-14	Nuveen Asset Management, LLC	added	43.07	1,041,000	2,828,000	-%

Latest Funds Activity

Are funds buying TBPH calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TBPH

No. of Funds

Theravance Biopharma News

Schedule 13G FIlings of Theravance Biopharma

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	madison avenue partners, lp	10.4%	7,012,226	SC 13G/A
Feb 14, 2023	orbimed advisors llc	0%	0	SC 13G/A
Feb 13, 2023	baupost group llc/ma	16.95%	11,419,226	SC 13G/A
Feb 09, 2023	vanguard group inc	8.25%	5,558,839	SC 13G/A
Jan 30, 2023	barclays plc	5.00%	3,371,298	SC 13G
Sep 20, 2022	gsk plc	0.0%	0	SC 13D/A
Jun 16, 2022	weiss asset management lp	8.09%	6,157,360	SC 13G
Apr 21, 2022	odre 2005 slu	5.5%	4,108,318	SC 13G
Feb 14, 2022	point72 asset management, l.p.	0.2%	145,100	SC 13G/A
Feb 14, 2022	madison avenue partners, lp	9.0%	6,648,025	SC 13G/A

TBPH Fair Value

Theravance Biopharma fair value in different scenarios

The table shows the Fair Value estimates for Theravance Biopharma for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	0.83 -92.11%	1.14 -89.16%	2.65 -74.81%	5.86 -44.30%	7.19 -31.65%
Current Inflation	0.78 -92.59%	1.05 -90.02%	2.39 -77.28%	5.20 -50.57%	6.34 -39.73%
Very High Inflation	0.71 -93.25%	0.95 -90.97%	2.09 -80.13%	4.41 -58.08%	5.33 -49.33%

Historical Theravance Biopharma Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Theravance Biopharma

View All Filings

Date Filed	Form Type	Document
Mar 17, 2023	PRE 14A	PRE 14A
Mar 16, 2023	4	Insider Trading
Mar 13, 2023	4	Insider Trading
Mar 13, 2023	8-K	Current Report
Mar 08, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading
Mar 03, 2023	4	Insider Trading

Latest Insider Trading transactions for TBPH

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	GRAHAM RICHARD A	sold	-23,973	10.32	-2,323	svp, research & development
2023-03-09	Farnum Rhonda	sold	-40,800	10.2	-4,000	svp, comm & medical affairs
2023-03-06	GRAHAM RICHARD A	sold	-23,346	10.05	-2,323	svp, research & development
2023-03-01	Sawaf Aziz	acquired	-	-	80,000	svp & chief financial officer
2023-03-01	Grimaud Brett A.	acquired	-	-	75,000	svp, gen counsel and secretary
2023-03-01	GRAHAM RICHARD A	acquired	-	-	75,000	svp, research & development
2023-03-01	Farnum Rhonda	acquired	-	-	75,000	svp, comm & medical affairs
2023-03-01	Winningham Rick E	acquired	-	-	330,000	chief executive officer
2023-02-26	GRAY SUSANNAH	acquired	-	-	11,819	-
2023-02-20	Grimaud Brett A.	sold (taxes)	-106,467	10.44	-10,198	svp, gen counsel and secretary

About Theravance Biopharma

Rick E. Winningham

www.theravance.com

160

Theravance Biopharma, Inc., a biopharmaceutical company, discovers, develops, and commercializes respiratory medicines in the United States, Europe, and Asia. The company offers YUPELRI, a once-daily, nebulized long-acting muscarinic antagonist used for the treatment of chronic obstructive pulmonary disease (COPD). Its product portfolio also include Izencitinib, a gut-selective pan-janus kinase (JAK) inhibitor that is in Phase IIb/III clinical trials for the treatment of rheumatoid arthritis, myelofibrosis, and ulcerative colitis, as well as for a range of inflammatory intestinal diseases, including ulcerative colitis and Crohn's disease. In addition, the company's product portfolio comprise Ampreloxetine, an investigational norepinephrine reuptake inhibitor that has completed Phase III study for neurogenic orthostatic hypotension; Nezulcitinib, a lung-selective, nebulized JAK inhibitor, which is in Phase II clinical development for the potential treatment of hospitalized patients with acute lung injury caused by COVID-19; Inhaled ALK5i, a potential inhaled anti-fibrotic agent that is in Phase I for the treatment of idiopathic pulmonary fibrosis; and TD-5202, an investigational, orally administered, gut-selective, irreversible JAK3 inhibitor that is in Phase I clinical study for treatment of inflammatory intestinal diseases. Further, it offers TRELEGY for the treatment of COPD and asthma; Velusetrag, an oral and investigational medicine for gastrointestinal motility disorders; and Selective 5-HT4 Agonist for treatment of gastrointestinal motility disorders. It has a licensing and collaboration agreements with Pfizer Inc., Viatris Inc., Janssen Biotech, Inc., Alfasigma S.p.A, and Takeda Pharmaceutical Company Limited. Theravance Biopharma, Inc. was incorporated in 2013 and is based in George Town, the Cayman Islands.

TBPH Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Total revenue	$ 51,346	$ 55,311	$ 71,857
Expenses:
Research and development (1)	63,392	193,657	260,953
Selling, general and administrative (1)	67,073	99,296	108,531
Restructuring and related expenses (1)	12,838	20,142
Total expenses	143,303	313,095	369,484
Loss from operations	(91,957)	(257,784)	(297,627)
Interest expense	(6,369)	(8,547)	(8,547)
Loss on extinguishment of debt	(3,034)
Interest income and other income, net	8,545	1,109	2,831
Loss from continuing operations before income taxes	(92,815)	(265,222)	(303,343)
Provision for income tax (expense) benefit	(9)	151	8,520
Net loss from continuing operations	(92,824)	(265,071)	(294,823)
Income from discontinued operations before income taxes	1,143,930	65,645	16,806
Provision for income tax expense	(178,974)
Net income from discontinued operations	964,956	65,645	16,806
Net income (loss)	$ 872,132	$ (199,426)	$ (278,017)
Net income (loss) per share:
Continuing operations - basic	$ (1.26)	$ (3.82)	$ (4.73)
Continuing operations - diluted	(1.26)	(3.82)	(4.73)
Discontinued operations - basic	13.11	0.95	0.27
Discontinued operations - diluted	13.11	0.95	0.27
Net income (loss) - basis	11.85	(2.87)	(4.46)
Net income (loss) - diluted	$ 11.85	$ (2.87)	$ (4.46)
Shares used to compute basis and diluted net income (loss) per share	73,591	69,461	62,345
Shares used to compute basis and diluted net income (loss) per share	73,591	69,461	62,345
Total share-based compensation expense	$ 39,734	$ 62,061	$ 62,976
Research and development
Expenses:
Restructuring and related expenses (1)	5,900	10,600
Net income (loss) per share:
Total share-based compensation expense	12,888	25,634	31,294
Selling, general and administrative
Expenses:
Restructuring and related expenses (1)	6,900	9,500
Net income (loss) per share:
Total share-based compensation expense	19,848	28,065	31,682
Restructuring and related expenses
Net income (loss) per share:
Total share-based compensation expense	6,998	8,362
Viatris collaboration agreement
Revenue:
Total revenue	48,624	43,848	43,893
Viatris royalties (Non-US)
Revenue:
Total revenue	30
Collaboration revenue
Revenue:
Total revenue	192	$ 11,463	26,464
Licensing revenue
Revenue:
Total revenue	$ 2,500		$ 1,500

TBPH Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 298,172	$ 89,959
Short-term marketable securities	29,312	83,506
Receivables from collaborative arrangements	16,785	14,065
Prepaid clinical and development services	1,513	10,245
Other prepaid and current assets	7,682	8,561
Amounts due from TRC, LLC (Discontinued operations)		43,534
Total current assets	353,464	249,870
Property and equipment, net	11,875	13,657
Operating lease assets	40,126	39,690
Future contingent milestone and royalty assets	194,200
Restricted cash	836	837
Other assets	6,899	3,228
Equity in net assets of TRC, LLC (Discontinued operations)		67,537
Total assets	607,400	374,819
Current liabilities:
Accounts payable	1,554	3,098
Accrued personnel-related expenses	10,314	12,796
Accrued clinical and development expenses	4,932	17,010
Accrued general and administrative expenses	4,020	2,898
Operating lease liabilities	6,753	503
Deferred revenue	24	98
Other accrued liabilities	1,118	1,304
Accrued interest payable		1,246
Current portion of non-recourse notes due 2035, net (Discontinued operations)		16,940
Accrued interest payable (Discontinued operations)		2,694
Total current liabilities	28,715	58,587
Long-term operating lease liabilities	45,407	52,681
Future royalty payment contingency	25,438
Long-term deferred revenue	192	310
Unrecognized tax benefits	64,191	240
Other long-term liabilities	1,657	2,180
Convertible senior notes due 2023, net		228,035
Non-recourse notes due 2035, net		371,359
Commitments and contingencies
Shareholders' Equity (Deficit)
Preferred shares, $0.00001 par value: 230 shares authorized, no shares issued or outstanding
Ordinary shares, $0.00001 par value: 200,000 shares authorized; [65,227] and 74,435 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	1	1
Additional paid-in capital	1,295,725	1,387,469
Accumulated other comprehensive loss	(15)
Accumulated deficit	(853,911)	(1,726,043)
Total shareholders' equity (deficit)	441,800	(338,573)
Total liabilities and shareholders' equity (deficit)	$ 607,400	$ 374,819