E xhibit 99.1 Theravance Biopharma Reports Phase 3 CYPRESS Study Did Not Meet Primary Endpoint; Board Accelerates Strategic Review and Announces Cost Reduction Actions Phase 3 CYPRESS study did not meet the primary endpo

Phase 3 CYPRESS Study Did Not Meet Primary Endpoint;

Accelerates Strategic Review and Announces Cost Reduction Actions

IRELAND - March 3, 2026

- Theravance Biopharma, Inc. ("Theravance

Biopharma" or the "Company") (NASDAQ: TBPH) today announced topline results from the Phase 3 CYPRESS study evaluating

the efficacy and safety of ampreloxetine in patients with symptomatic neurogenic orthostatic hypotension (nOH) due to multiple system

atrophy (MSA), a rare disease. The study did not meet its primary endpoint in the Orthostatic Hypotension Symptom Assessment (OHSA) composite

score. As a result of this outcome, the Company has decided to wind down the ampreloxetine program.

connection with this announcement, the Strategic Review Committee of the Theravance Biopharma Board of Directors (the "Committee")

is accelerating its ongoing review of alternatives to maximize value for shareholders. Since its formation in 2024, the Committee has

been working on an ongoing basis with Lazard, its independent financial advisor, to evaluate opportunities available to the Company,

including under multiple potential outcomes for the CYPRESS study. Building upon this work, the Committee will 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. There can be no

assurance that the Committee's strategic review process will result in any transaction. Theravance Biopharma does not intend to

disclose further developments on this review process unless and until it determines that such disclosure is appropriate or necessary.

1 Payments from Royalty Pharma (RP)

will be triggered if RP receives certain minimum royalty payments from GSK based on TRELEGY global net sales.

2 In the U.S., Viatris is leading

the commercialization of YUPELRI, and the Company co-promotes the product under a profit and loss sharing arrangement (65% to Viatris;

35% to the Company).

the Committee accelerates its review, Theravance Biopharma is implementing an organizational restructuring to streamline costs and align

its resources with its commercial focus on YUPELRI . The restructuring will involve winding down the R&D function

and significantly reducing the G&A function. The restructuring is expected to reduce operating expenses by approximately 60%, relative

to 2025 preliminary actuals of approximately $110 million. The full run-rate cost savings of approximately $70 million are expected to

fully materialize in the third quarter of 2026.

the cost savings from the restructuring and continued sales from YUPELRI are expected to result in the Company

generating approximately $60 to $70 million of annualized cash flow, starting in Q3 2026. This cash flow projection is comprised of an

estimated $45 to $55 million of Income from Operations (excluding non-cash share-based compensation) and projected Interest and Other

Income, and does not include potential income from the $100 million TRELEGY milestone.

the decision to wind down the ampreloxetine program, the Company's sources of value include approximately $400 million of expected cash

at the end of Q1 2026, a 35% interest in YUPELRI that generates durable cash flow, and the potential TRELEGY milestone

payment, as well as Irish tax attributes.

are disappointed that ampreloxetine did not meet the primary endpoint in the CYPRESS study. These results are particularly disheartening

for the patients who are suffering from this rare disease and were hoping for a new treatment option and for the employees who dedicated

years of work to this program. I want to sincerely thank the patients, caregivers, investigators, and our team for their commitment and

contributions to this effort," said Rick E Winningham, Chief Executive Officer of Theravance Biopharma. "Given these results,

we are taking decisive steps to restructure the organization and significantly reduce our cost base, which we expect will allow YUPELRI

to drive meaningful and sustainable cash flow for the company. With a profitable commercial product, an expected cash balance of approximately

$400 million at the end of the first quarter of 2026, and the anticipated $100 million TRELEGY milestone in 2026, we continue to have

a strong set of assets."

with our commitment to act in the best interests of the Company and its shareholders, and alongside the organizational restructuring

actions we announced today, the Strategic Review Committee is accelerating its ongoing evaluation of value maximizing strategic alternatives,"

said Susannah Gray, independent Chair of the Board and Chair of the Strategic Review Committee. "The Committee was established

with a clear mandate to deliver maximum value to Theravance Biopharma shareholders, and over the last year and a half, has been actively

engaged in overseeing that the Company's strategy delivers on this objective, including with the $225 million sale of our remaining

royalty interest in TRELEGY in 2025. Today, Theravance Biopharma has a cash-generative commercial asset, strong balance sheet and sizable

near-term milestone payout opportunity, and the Committee is squarely focused on acting with urgency and discipline to ensure that we

achieve the best outcome for shareholders."

3 CYPRESS Topline Data Study Results

the Phase 3 CYPRESS study, the primary endpoint, the change in OHSA composite score at Week 8 during the double-blind randomized withdrawal

period, was not statistically significant. Similar trends were observed in the secondary endpoints at week 8. Changes in blood pressure,

heart rate and norepinephrine levels confirmed a consistent pressor effect and reaffirmed ampreloxetine's biological activity.

Ampreloxetine was generally well tolerated, with safety findings consistent with prior studies, including no signal of worsening of supine

the Company proceeds with the orderly wind down of the ampreloxetine program, it will complete additional analyses of the CYPRESS dataset

and Phase 3 program, in consultation with external experts, to assess whether the data merits further regulatory discussion. This assessment

is intended to provide the Committee with additional clarity regarding any remaining value in ampreloxetine for Theravance shareholders.

There can be no assurance that any additional regulatory engagement will occur.

restructuring is expected to impact approximately 50% of the overall workforce. This reduction includes the complete wind-down of the

R&D organization and a decrease of approximately 50% in G&A employees. These actions will be implemented over the next two quarters,

and the Company expects to incur approximately $5 to $7 million in one-time cash severance costs related to these actions.

(revefenacin) inhalation solution, the first and only once-daily, nebulized LAMA (long-acting muscarinic antagonist) bronchodilator approved

in the U.S. for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD):

3 In the U.S., Viatris is leading

the commercialization of YUPELRI, and the Company co-promotes the product under a profit and loss sharing arrangement (65% to Viatris;

35% to the Company).

4 GSK-reported Net Sales in USD.

an investigational, once-daily norepinephrine reuptake inhibitor in development for the treatment of symptomatic neurogenic orthostatic

hypotension (nOH) in patients with multiple system atrophy (MSA).

CYPRESS (Study 0197), a Phase 3 Study

0197 (NCT05696717) is a registrational Phase 3, multi-center, randomized withdrawal study to evaluate the efficacy and durability

of ampreloxetine in participants with MSA and symptomatic nOH after 20 weeks of treatment; the primary endpoint of the study is change

in the Orthostatic Hypotension Symptom Assessment (OHSA) composite score. Secondary endpoints include change from baseline in Orthostatic

Hypotension Daily Activity Scale (OHDAS) composite score, OHDAS item 1 (activities that require standing for a short time) and OHDAS

item 3 (activities that require walking for a short time).

Theravance Biopharma

Biopharma, Inc.'s focus is to deliver Medicines that Make a Difference in people's lives. In pursuit

of its purpose, Theravance Biopharma leverages decades of expertise, which has led to the development of FDA-approved YUPELRI

(revefenacin) inhalation solution indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD).

The Company is committed to creating/driving shareholder value.

more information, please visit www.theravance.com.

BIOPHARMA , THERAVANCE and the Cross/Star logo are registered trademarks of the Theravance Biopharma group

of companies (in the U.S. and certain other countries).

a registered trademark of Mylan Specialty L.P., a Viatris company. Trademarks, trade names or service marks of other companies

appearing in this press release are the property of their respective owners.

Financial and Operating Results

financial information in this press release is preliminary, unaudited, based on currently available information, and subject to adjustment

in the final financial statements to be filed with the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The

preliminary results set forth above reflect preliminary, unaudited estimates based solely on currently available information, which is

subject to change. Such preliminary results are subject to the finalization of year-end financial and accounting procedures. While carrying

out such procedures, the Company may identify items that would require it to make adjustments to the preliminary estimates of financial

results set forth herein. As a result, the Company's actual financial results could differ from the information set forth herein

and such differences could be material. Moreover, preliminary and estimated financial results should not be viewed as a substitute for

the Company's full annual financial statements for the year ended December 31, 2025, which will be prepared in accordance with

press release contains certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform

Act of 1995 regarding, among other things, statements relating to goals, plans, objectives, expectations and future events. Theravance

Biopharma intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained