Company: TBPH
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001104659-25-033819
Chunk: 49

Company: Theravance Biopharma, Inc.
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 49
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 for, grew 41% in 2024 compared to 2023 and continued to be a meaningful contributor to YUPELRI’s overall net sales growth for the year. • Continued Enrollment in Ampreloxetine Phase 3 Clinical Study . We continued to make steady progress with the open-label enrollment of our ampreloxetine Phase 3 clinical study (CYPRESS) in MSA patients with symptomatic nOH, using the Orthostatic Hypotension Symptom Assessment Scale (“OHSA”) composite score as the primary endpoint. Current enrollment is in-line with expectations for completion in mid-2025, with data anticipated to be available approximately six months later. • Achievement of $50.0 Million TRELEGY® Royalty Milestone Payment for 2024 . In February 2025, we received a $50.0 million maximum milestone payment from Royalty Pharma Investments associated with the achievement of certain minimum royalty payments related to 2024 TRELEGY global net sales. If TRELEGY’s 2024 global net sales of $3.46 billion are repeated in 2025, net sales would exceed the threshold required to achieve $50.0 million of milestones in 2025 (based on $3.41 billion of global net sales) and only 2% growth is required to achieve $100.0 million of milestones in 2026 (based on $3.51 billion of global net sales). • Formation of Strategic Review Committee . In November 2024, our board of directors announced the formation of a Strategic Review Committee composed entirely of independent directors to assess all strategic alternatives available to us, including those related to YUPELRI, ampreloxetine, and TRELEGY, with the objective of unlocking shareholder value. There can be no assurance that the strategic review process will result in any transaction. We have not set a timetable for completion of this process, and we do not intend to disclose further developments unless and until we determine that such disclosure is appropriate or necessary. 2024 Compensation Highlights In 2024, our compensation committee continued to focus on aligning executive compensation with the interests of our shareholders by continuing or incorporating the following elements into our named executive officer compensation program: • For the third consecutive year, no change was made to Mr. Winningham’s base salary or target bonus. In addition, Mr. Winningham’s 2024 annual equity grant value was reduced by approximately 19% compared to 2023. • In 2024, Mr. Winning