Theravance Biopharma, Inc. Reports First Quarter 2025 Financial Results and Provides Corporate Update YUPELRI (revefenacin) net sales of $58.3 million, recognized by Viatris, increased 6% versus Q1 2024 1 TRELEGY net sal

Theravance Biopharma, Inc. Reports First

Financial Results and Provides Corporate Update

- MAY 8, 2025 - Theravance Biopharma, Inc. ("Theravance Biopharma" or the "Company")

(NASDAQ: TBPH) today reported financial and operational results for the first quarter of 2025.

"As we begin the year, we remain focused

on delivering against our operational priorities for YUPELRI and ampreloxetine," said Rick E Winningham, CEO of Theravance Biopharma.

"Our commercial partnership with Viatris delivered solid YUPELRI sales growth, aided by a strong performance in the hospital

setting. TRELEGY delivered another excellent quarter and our clinical team advanced CYPRESS enrollment, which is now nearing completion.

Our interactions with the MSA community continue to highlight the urgent need for new treatments for symptomatic nOH and ampreloxetine's

potentially significant value to patients, caregivers and providers, underpinning our motivation to complete CYPRESS enrollment and share

First Quarter Operational Highlights

YUPELRI (revefenacin) inhalation solution, the

first and only once-daily, nebulized LAMA (long-acting muscarinic antagonist) bronchodilator approved in the US for the maintenance

treatment of patients with chronic obstructive pulmonary disease (COPD):

Ampreloxetine, 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):

GSK posted first quarter 2025 global net sales of $854 million (up

14% from $749 million reported in the first quarter of 2024):

First Quarter Financial Results

Strategic Review Committee

Theravance Biopharma announced on November 12,

2024, that the Board of Directors had formed a Strategic Review Committee (the "Committee") composed entirely of independent

directors to assess all strategic alternatives available to the Company. The Committee is continuing to evaluate a range of alternatives

with the objective of unlocking shareholder value. Until this review is complete, we are not in a position to provide additional details

on the review process.

2025 Financial Guidance

Conference Call and Live Webcast Today at 5:00 pm ET

Theravance Biopharma will hold a conference call and live webcast

accompanied by slides today at 5:00 pm ET / 2:00 pm PT / 10:00 pm GMT. To participate in the live call by telephone, please dial

(800) 715-9871 from the US or (646) 307-1963 for international callers, using the Conference ID 3369474. Those interested in listening

to the conference call live via the internet may do so by visiting Theravance Biopharma's website at www.theravance.com,

under the Investors section, Presentations and Events.

A replay of the webcast will be available on Theravance Biopharma's

website for 30 days through June 7, 2025.

Ampreloxetine, 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). The unique benefits of ampreloxetine treatment reported in MSA patients from Study 0170 included an increase in norepinephrine

levels, a favorable impact on blood pressure, clinically meaningful and durable symptom improvement, and no signal for worsening of supine

hypertension. In the US, the Company has been granted an Orphan Drug Designation for ampreloxetine for the treatment of symptomatic nOH

in patients with MSA and, if results from the ongoing Phase 3 CYPRESS study are supportive, plans to file an NDA for full approval in

About CYPRESS (Study 0197), a Phase 3 Study

Study 0197 (NCT05696717) is currently enrolling. This 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. The Study includes four periods: screening, open label (12-week period, participants will receive a single daily

10 mg dose of ampreloxetine), randomized withdrawal (eight-week period, double-blind, placebo-controlled, participants will receive a

single daily 10 mg dose of placebo or ampreloxetine), and a long-term treatment extension. Secondary outcome measures include change from

baseline in Orthostatic Hypotension Daily Activity Scale (OHDAS) item 1 (activities that require standing for a short time) and item 3

(activities that require walking for a short time).

About Multiple System Atrophy (MSA) and Symptomatic Neurogenic Orthostatic

MSA is a progressive brain disorder that affects movement and balance

and disrupts the function of the autonomic nervous system. The autonomic nervous system controls body functions that are mostly involuntary.

One of the most frequent autonomic symptoms associated with MSA is a sudden drop in blood pressure upon standing (nOH).6

There are approximately 50,000 MSA patients in the US7 and 70-90% of MSA patients experience

nOH symptoms.8 Despite available therapies, many MSA patients remain symptomatic with

Neurogenic orthostatic hypotension (nOH) is a rare disorder defined

as a fall in systolic blood pressure of 20 mm Hg or diastolic blood pressure of 10 mm

Hg, within 3 minutes of standing. Severely affected patients are unable to stand for more than a few seconds because of their decrease

in blood pressure, leading to cerebral hypoperfusion and syncope. A debilitating condition, nOH results in a range of symptoms including

dizziness, lightheadedness, fainting, fatigue, blurry vision, weakness, trouble concentrating, and head and neck pain.

About Theravance Biopharma

Theravance 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). Ampreloxetine, its late-stage investigational

once-daily norepinephrine reuptake inhibitor in development for symptomatic neurogenic orthostatic hypotension (nOH) in patients with

Multiple System Atrophy (MSA), has the potential to be a first in class therapy effective in treating a constellation of cardinal symptoms

in MSA patients. The Company is committed to creating/driving shareholder value.

For more information, please visit www.theravance.com.

THERAVANCE 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).

YUPELRI is 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.

Forward-Looking Statements

This press release and the conference call will

contain 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 in Section 21E

of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Examples of such statements

include statements relating to: the Company's expectations regarding its future profitability, expenses and uses of cash, the Company's

goals, designs, strategies, plans, potential, and objectives, future growth of YUPELRI sales, future milestone and royalty payments, the

ability to provide value to shareholders, the Company's regulatory strategies and timing of clinical studies, potential or possible

safety, efficacy or differentiation of our investigational therapy, the status of patent infringement litigation initiated by the Company

and its partner against certain generic companies in federal district courts; contingent payments due to the Company from the sale of

the Company's TRELEGY ELLIPTA royalty interests to Royalty Pharma, and expectations around the use of OHSA scores as endpoints for

clinical trials. These statements are based on the current estimates and assumptions of the management of Theravance Biopharma as of the

date of this press release and the conference call and are subject to risks, uncertainties, changes in circumstances, assumptions and

other factors that may cause the actual results of Theravance Biopharma to be materially different from those reflected in the forward-looking

statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements

include, among others, risks related to: factors that could increase the Company's cash requirements or expenses beyond its expectations

and any factors that could adversely affect its profitability, whether the milestone thresholds can be achieved, delays or difficulties

in commencing, enrolling or completing clinical studies, the potential that results from clinical or non-clinical studies indicate the

Company's product candidates or product are unsafe, ineffective or not differentiated, risks of decisions from regulatory authorities

that are unfavorable to the Company, dependence on third parties to conduct clinical studies, delays or failure to achieve and maintain

regulatory approvals for product candidates, risks of collaborating with or relying on third parties to discover, develop, manufacture