Theravance Biopharma, Inc. filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission on August 11, 2026, covering the period ended June 30, 2026, and disclosing a net loss of $10.831 million for the first half of the year alongside ongoing restructuring activity.

Key Highlights

  • Net loss of $10.831 million for the six months ended June 30, 2026, compared to net income of $41.256 million in the same period of 2025.
  • Total revenues of $38.430 million for the first six months of 2026, all from the Viatris collaboration agreement, versus $41.583 million in the prior-year period.
  • Restructuring expenses of $7.664 million recorded in the first half of 2026, comprised of $4.784 million in cash-related expenses and $2.880 million in non-cash expenses.
  • Transaction-related expenses of $6.089 million were recorded in Q2 2026, with no comparable amount in the prior-year period.
  • Cash and cash equivalents of $219.766 million as of June 30, 2026, up from $167.806 million at December 31, 2025.
  • Total shareholders' equity of $289.705 million as of June 30, 2026, down from $296.723 million at December 31, 2025.
  • 51,918,754 ordinary shares outstanding as of July 31, 2026, according to the filing.

Theravance Biopharma's First-Half 2026 Financial Position and Restructuring Charges

Theravance Biopharma, Inc. (NASDAQ:TBPH), incorporated in the Cayman Islands and headquartered in South San Francisco, California, reported a net loss of $10.831 million for the six months ended June 30, 2026, a significant shift from net income of $41.256 million for the same period in 2025. According to the filing, the prior-year period benefited from a net gain on realized contingent milestone and royalty assets of $75.137 million, which was not present in 2026. Total revenues for the first half of 2026 were $38.430 million, all attributed to the Viatris collaboration agreement, compared to $41.583 million in the prior-year period, which also included $7.500 million in licensing and milestone revenue.

The filing disclosed that the company recorded $7.664 million in restructuring expenses during the first six months of 2026, with none in the comparable 2025 period. These charges consisted of $4.784 million in cash-related expenses and $2.880 million in non-cash expenses. Additionally, transaction-related expenses of $6.089 million were recorded in the second quarter of 2026. Research and development expenses declined to $10.541 million for the six months ended June 30, 2026, from $21.942 million in the prior-year period, while selling, general and administrative expenses decreased to $31.896 million from $36.800 million.

The balance sheet as of June 30, 2026 showed total assets of $469.770 million, compared to $485.570 million at December 31, 2025. Cash and cash equivalents increased to $219.766 million from $167.806 million over the same period. The accumulated deficit stood at $870.458 million as of June 30, 2026, versus $859.627 million at year-end 2025. The company classified itself as a smaller reporting company and a non-accelerated filer in the filing.

What Was Disclosed

Theravance Biopharma filed its 10-Q for the quarter ended June 30, 2026, reporting a six-month net loss of $10.831 million, restructuring and transaction-related charges totaling approximately $13.753 million, and revenues of $38.430 million from its Viatris collaboration agreement.