Theravance Biopharma (TBPH) Reports Third Quarter 2016 Financial Results And Provides Business Update
11/9/2016 1:24:16 PM
DUBLIN, Nov. 8, 2016 /PRNewswire/ -- Theravance Biopharma, Inc. (NASDAQ: TBPH) ("Theravance Biopharma" or the "Company") today reported financial results for the third quarter ended September 30, 2016. Revenue for the third quarter 2016 was $19.1 million. The third quarter operating loss was $33.5 million, or $23.5 million excluding share-based compensation expense of $9.9 million. Cash, cash equivalents, and marketable securities totaled $289.3 million as of September 30, 2016. The quarter-end cash balance excludes $22.7 million in receivables from collaborative arrangements. The quarter end cash balance also excludes net proceeds of approximately $316.2 million from the Company's concurrent public offerings of ordinary shares and convertible senior notes, which closed on November 2, 2016.
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