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Theravance Biopharma Medicines That Make a Difference Theravance Biopharma , Inc. Reports Third Quarter 2021 Financial Results and Provides Business Update November 3 , 2021 - Implied 35 % share of YUPELRI® ( revefenacin ) US net sales [ 1 ] : $ 13.8 million , up 7 % from Q3 2020 - TRELEGY Q3 2021 global net sales : $ 449 million , up 77 % from Q3 2020 [ 2 ] - Restructuring proceeding according to plan DUBLIN , Nov. 3 , 2021 / PRNewswire / -- Theravance Biopharma , Inc. ( " Theravance Biopharma " or the " Company " ) ( NASDAQ : TBPH ) today reported financial results for the third quarter of 2021 . " This last month has been about executing on our strategy to create a new Theravance Biopharma , focused on leveraging expertise in developing and commercializing respiratory therapeutics . We are executing against the strategic plan we announced in mid - September to become cash - flow positive by the second - half of 2022 , " said Rick E Winningham , Chief Executive Officer . " We are on track to reduce headcount by approximately 75 % with the large majority of staff departing by the end of November and the remainder by the end of February . Our focus is driving growth of YUPELRI , streamlining R & D investment and optimizing our asset portfolio to maximize shareholder value . " Quarterly Highlights • YUPELRIⓇ ( revefenacin ) inhalation solution , the first and only once - daily , nebulized bronchodilator approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary disease ( COPD ) , continued to increase its share of the long - acting nebulized COPD market , increasing to 22 % in July 2021 , up from 21 % in April 2021 , and net sales increased by 7 % year - over - year ( Q3 2021 vs. Q3 2020 ) . o The Company , in collaboration with its partner Viatris , is also initiating a Phase 4 study comparing improvements in lung function in adults with severe to very severe COPD and suboptimal inspiratory flow rate following once - daily treatment with either YUPELRIⓇ ( revefenacin ) delivered via standard jet nebulizer or tiotropium delivered via a dry powder inhaler ( SpirivaⓇ HandiHalerⓇ ) . This study is aimed at helping to better inform decisions when physicians are designing a personalized COPD treatment plan with patients . Success in this study would capture more of YUPELRI's addressable market and further strengthen its competitive advantage . • On September 15 , 2021 , the Company announced strategic actions to focus on its respiratory disease portfolio ( read more about the actions here ) . • Ampreloxetine , an investigational , Theravance Biopharma - discovered , potent , long - acting , once - daily norepinephrine reuptake inhibitor in development for the treatment of symptomatic neurogenic orthostatic hypotension ( nOH ) , reported Phase 3 top - line results ( Study 0169 - read more about the data here ) . • Izencitinib , an orally administered , once - daily , investigational , internally discovered , high affinity , reversible pan - JAK inhibitor which was designed to be gut - selective , reported Phase 2B top - line results ( Study 0157 - read more about the data here ) . Economic Interest • TRELEGY ( first once - daily single inhaler triple therapy for COPD and asthma ) , in which the Company holds an economic interest , posted third quarter 2021 global net sales of $ 449 million ( up from $ 253 million , 77 % , in the third quarter of 2020 ) ; Theravance Biopharma is entitled to tiered payments equal to approximately 5.5 % to 8.5 % of TRELEGY global net sales.3 Upcoming Clinical Milestones • Izencitinib and ampreloxetine study close out activities to be completed by end of Q1 2022 . • Q1 2022 : Izencitinib ( gut - selective oral pan - JAK inhibitor for inflammatory intestinal diseases ) Phase 2 in Crohn's disease ( Study 0173 ) top - line results expected in Q1 2022 . • Q1 2022 : Ampreloxetine ( norepinephrine reuptake inhibitor ) Phase 3 for symptomatic neurogenic orthostatic hypotension ( Study 0170 ) - top - line results expected in Q1 2022 . Third Quarter Financial Results • Revenue : Total revenue for the third quarter of 2021 was $ 13.2 million , comprised of non - cash collaboration revenue of $ 2.8 million primarily attributed to the global collaboration with Janssen and $ 10.4 million in Viatris collaboration revenue . Total revenue for the third quarter represents a $ 5.1 million decrease over the same period in 2020 driven by the reduction of non - cash collaboration revenue related to the Janssen collaboration due to the wind down of the izencitinib clinical