Theravance Biopharma (TBPM) Shares Surge 22.68% on Strong Q3 Earnings, Upcoming Milestones

Theravance Biopharma’s shares surged 22.68% in pre-market trading on November 12, 2025, driven by robust performance in its flagship product Yupelri and upcoming milestones. The pre-market rally followed strong third-quarter results, with Yupelri exceeding sales expectations at $71.4 million and positioning the company to trigger a $25 million milestone payment from Viatris by year-end.

The company is also on track to receive a $50 million milestone from Royalty Pharma in 2025 linked to GSK’s Trelegy sales, with an additional $100 million possible in 2026. These developments, coupled with non-GAAP profitability, have bolstered investor confidence. Meanwhile, its phase 3 trial for ampreloxetine—a treatment for neurogenic orthostatic hypotension—is expected to deliver top-line results in early 2026, offering further catalysts.

Backtesting scenarios suggest that the stock’s momentum may persist if sales milestones are met and clinical trial data for ampreloxetine align with expectations. Strategic focus on cash flow generation from Yupelri and royalty agreements positions Theravance to capitalize on near-term value drivers while advancing its pipeline. The trajectory underscores the company’s ability to convert operational progress into shareholder returns.