Theravance Biopharma (TBPH) H.C. Wainwright 26th Annual Global Investment Conference summary

Company overview and strategic focus

• Commercial stage with a late-stage clinical asset and a marketed COPD medicine co-promoted with Viatris.

• Strong cash position with low operational cash use due to commercial product revenue.

• Phase III program for ampreloxetine targeting neurogenic orthostatic hypotension in MSA, aiming to finish open-label enrollment by mid-2025.

Yupelri performance and market dynamics

• 13% demand growth in Q2, with strong hospital channel volume despite pricing headwinds from business mix.

• Hospital segment remains robust, with continued formulary approvals and therapeutic interchanges favoring Yupelri.

• Differentiated once-daily dosing and labor savings drive hospital adoption and displacement of other therapies.

• Focus on transitioning patients from hospital to outpatient care to sustain long-term prescriptions.

• Expectation of pricing headwinds for two more quarters, with normalization anticipated in 2025.

Intellectual property and exclusivity

• Recent patent issuance and settlements with generic challengers extend exclusivity to 2039.

• Ongoing litigation, but confidence in patent strength, especially for peak inspiratory flow.