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Theravance Biopharma, Inc. Reports Fourth Quarter and Full Year 2014
VIBATIV® (telavancin) Commercial Team Expanded in Target Geographies, Registry Study Initiated and Telavancin Phase 3 Bacteremia Study Underway;
TD-4208 Advancing to Phase 3 Registrational Program, and Partnered with Mylan in Broad Development and Commercialization Collaboration
GEORGE TOWN, GRAND CAYMAN MARCH 10, 2015 Theravance Biopharma, Inc. (NASDAQ: TBPH) (Theravance Biopharma or the Company) today reported financial results for the fourth quarter and year ending December 31, 2014. Revenue for the fourth quarter of 2014 was $1.4 million. Net loss for the fourth quarter of 2014 was $64.3 million or $2.02 per share. Cash, cash equivalents, and marketable securities, excluding restricted cash, totaled $306.0 million as of December 31, 2014.
Rick E Winningham, Chairman and Chief Executive Officer, commented: In 2014, we successfully separated Theravance Biopharma from Theravance, Inc., creating an independent biopharmaceutical company with a valuable research, development and commercial portfolio. We established a commercial infrastructure to market VIBATIV® in the U.S., and to support future initiatives focused on the acute care setting. We advanced our late-stage pipeline, led by TD-4208 which is moving toward a Phase 3 registrational program in COPD, and progressed exciting new compounds from our research efforts toward the clinic. Our accomplishments in 2014 created a strong foundation for continued progress and the opportunity for achievement of important milestones.
· With VIBATIV, the Company expanded the field force supporting the commercial launch, initiated a Phase 3 bacteremia registrational study and initiated a patient registry study.
· The Company held discussions with the FDA on the design of a Phase 3 program for TD-4208 in COPD and announced plans to initiate the Phase 3 program later this year.
· The Company announced an important strategic collaboration with Mylan to develop and, if approved, commercialize the nebulized formulation of TD-4208.
· The Company successfully co-formulated axelopran with the opiate OxyContin® as a fixed-dose combination in a Phase 1 study.
· GSK and Theravance, Inc. announced initiation of a second global Phase 3 study to evaluate the effects of the Closed Triple in patients with COPD.
· In collaboration with partner Alfa Wassermann, the Company prepared to initiate a Phase 2b study in gastroparesis with velusetrag.
The following information was filed by Theravance Biopharma, Inc. (TBPH) on Tuesday, March 10, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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