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Exhibit 99.1
Theravance Biopharma, Inc. Reports Fourth Quarter and Full Year 2014
Financial Results
VIBATIV® (telavancin) Commercial Team Expanded in Target Geographies, Registry Study Initiated and Telavancin Phase 3 Bacteremia Study Underway;
Pipeline Progressing;
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.
Recent Highlights
· 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.
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