AcquisitionsAug 10, 2026, 08:38 AM
Theravance Biopharma Acquisition by Zymeworks on Track; Q2 Revenue Up 11%
AI Summary
Theravance Biopharma reported its second quarter 2026 financial results and provided a corporate update, highlighting the pending acquisition by Zymeworks. The acquisition, valued at $17.00 per share in cash plus a contingent value right, is expected to close in the second half of 2026. The company also announced an 11% year-over-year increase in YUPELRI Collaboration Revenue to $20.7 million and a 35% reduction in operating expenses due to restructuring efforts. Despite a GAAP net loss of $5.9 million, non-GAAP net income from operations was $9.5 million, with a strong cash balance of $387.7 million.
Key Highlights
- Acquisition by Zymeworks for $17.00 per share cash plus CVR expected to close H2 2026.
- YUPELRI Collaboration Revenue increased 11% YoY to $20.7 million in Q2 2026.
- Operating expenses (excl. restructuring) decreased 35% YoY in Q2 2026.
- Q2 2026 TRELEGY net sales were $1.0 billion; high confidence in $100M 2026 milestone.
- Cash, cash equivalents, and marketable securities totaled $387.7 million as of June 30, 2026.
- Net loss was $5.9 million in Q2 2026, compared to net income of $54.8 million in Q2 2025.
- Non-GAAP net income from operations was $9.5 million in Q2 2026.
Price Impact
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