TBPH
Theravance Biopharma, Inc.
Next earnings Aug 10, 2026 · consensus $0.05 EPS, $22.2M rev
Last earnings +0.5% on 2026-05-07
$16.93
▼ -0.76%$16.93▲ +50.89%
over 1Y
L $10.90H $20.74
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.8%
1W-2.6%
1M+8.7%
3M+5.7%
YTD-6.7%
1Y+50.9%
Buy
Conviction
Horizon
Short (<3mo)
12-mo target
$•••
Street · 12 analysts
Buy
Strategic review with explicit 'sale of the Company' language, $168M cash post-TRELEGY, and 60% opex cut make TBPH a clean M&A setup.
Cash & equivalents $168M · FY2025
The read
Quality fundamentals and an attractive price line up (~362% below fair value) — the rarer case where both the business and the entry look good.
TBPH has effectively become a special-situations play, not a biotech growth story. The March 3, 2026 CYPRESS Phase 3 failure killed ampreloxetine and triggered the Board's Strategic Review Committee (with Lazard) to 'act with urgency to evaluate a broad range of value maximizing and tax efficient alternatives, including but not limited to a sale of the Company.' Management is simultaneously winding down R&D and executing a Restructuring that cuts opex by ~60% off 2025's $111.1M base, with ~$70M of run-rate savings hitting Q3 2026. That is the language and choreography of a company being prepped for a transaction.
The numbers reflect a balance sheet now overcapitalized for what remains. The June 2025 sale of TRELEGY royalties to GSK for $225M, plus the $50M Royalty Pharma milestone in Feb 2026 and a $25M Viatris milestone in Jan 2026, drove cash to $168M (+344% YoY) and pushed operating cash flow to $239M. Long-term debt is zero. Critically, the headline FY2025 net income of $106M and the 8.5x P/E are misleading — operating income was -$3.6M, so reported earnings reflect the TRELEGY monetization, not recurring economics. The right way to value this is cash + YUPELRI residual + up to $100M of remaining 2026 TRELEGY milestones, minus a slimmed-down ~$41M opex base.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 25, 2026, 10:46 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is TBPH a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $55.3M | $51.3M | $57.4M | $64.4M | $107M |
| Gross profit | — | — | — | — | — |
| Operating income | -$258M | -$92.0M | -$56.0M | -$46.9M | -$3.60M |
| Net income | -$199M | $872M | -$55.2M | -$56.4M | $106M |
| Diluted EPS | -$2.87 | $11.85 | -$1.00 | -$1.15 | $2.06 |
| Net margin | -360.6% | 1698.5% | -96.1% | -87.6% | 98.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$710M
EV / EBITDA—
EV / Sales6.6
EV / FCF3.0
P / FCF3.7
PEG (trailing)0.03
Earnings yield12.1%
FCF yield27.2%
Quality & risk
ROIC (est.)-1.0%
Free cash flow$238M
Total debt$0.00
Net cash$168M
Piotroski F-Score7/8
Capital returns
Buyback yield0.1%
Dividend yield (est.)—
Shareholder yield0.1%
Shares Δ YoY+4.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Material agreement2026-06-29
- 8-K Officer / director change2026-06-23
Officer/director change disclosed amid ongoing strategic review and restructuring.
- 8-K Shareholder vote2026-06-12
Annual meeting vote results filed; routine governance disclosure.
- 8-K Earnings results2026-05-07
Q1 2026 10-Q: first quarter reflecting restructuring and YUPELRI-only focus.
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q: first quarter reflecting restructuring and YUPELRI-only focus.
- DEF 14A Proxy statement2026-04-28
Proxy filed; board/comp items amid Strategic Review Committee work (DEF 14A).
- 8-K Other event2026-03-30
Other disclosure tied to strategic review/wind-down following CYPRESS failure.
- 10-K Annual report2026-03-23
FY25 10-K: YUPELRI +12% to $267M, $225M TRELEGY sale, $168M cash, profitable.
- 8-K Earnings results2026-03-19
FY2025 results: revenue +67% to $107M, net income $106M, EPS $2.06.
Recent filings
all on EDGAR ↗4Period ending 2026-06-292026-07-01open ↗DEFA14AFiling2026-06-29open ↗8-KPeriod ending 2026-06-282026-06-29open ↗4Period ending 2026-06-192026-06-23open ↗8-KPeriod ending 2026-06-192026-06-23open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-122026-06-16open ↗4Period ending 2026-06-122026-06-16open ↗4Period ending 2026-06-122026-06-16open ↗4Period ending 2026-06-122026-06-16open ↗4Period ending 2026-06-122026-06-16open ↗144Filing2026-06-15open ↗
Frequently asked
- Is Theravance Biopharma, Inc. (TBPH) a buy?
- TBPH currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Strategic review with explicit 'sale of the Company' language, $168M cash post-TRELEGY, and 60% opex cut make TBPH a clean M&A setup.
- What is TBPH's fair value?
- A Modified-Graham model based on TBPH's SEC fundamentals estimates a fair value of about $78.28. It is an estimate from reported earnings, not a price target.
- Is TBPH overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, TBPH currently appears undervalued relative to its SEC-grounded earnings power.
- What is Theravance Biopharma, Inc.'s quality score?
- TBPH scores 74.95348209094634/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001583107, latest 10-Q filed 2026-05-07) · EODHD · Proprietary analysis · as of 6/25/2026, 2:46:25 PM.
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