v3.25.3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 174,773	$ 37,797
Short-term marketable securities	154,907	50,553
Receivables from collaborative arrangements	18,267	18,440
Receivables from milestones and royalty assets		50,000
Other prepaid and current assets	6,750	4,277
Total current assets	354,697	161,067
Long-term marketable securities	3,029
Property and equipment, net	6,257	7,418
Operating lease assets	25,450	28,354
Future contingent milestone and royalty assets	0	144,200
Restricted cash	836	836
Other assets	25,191	12,286
Total assets	415,460	354,161
Current liabilities:
Accounts payable	2,213	2,242
Accrued personnel-related expenses	10,330	7,019
Accrued clinical and development expenses	5,842	1,058
Accrued general and administrative expenses	2,699	2,987
Operating lease liabilities	10,914	10,712
Income tax payable	4,074	5,853
Other accrued liabilities	1,335	2,214
Total current liabilities	37,407	32,085
Long-term operating lease liabilities	33,681	39,108
Future royalty payment contingency	32,213	30,334
Unrecognized tax benefits	79,165	75,199
Other long-term liabilities	313	1,890
Commitments and contingencies (Note 11)
Shareholders' Equity
Preferred shares, $0.00001 par value per share: 230 shares authorized, no shares issued or outstanding
Ordinary shares, $0.00001 par value per share: 200,000 shares authorized; 50,672 and 49,471 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	1
Additional paid-in capital	1,153,299	1,141,060
Accumulated other comprehensive income	32	7
Accumulated deficit	(920,651)	(965,522)
Total shareholders' equity	232,681	175,545
Total liabilities and shareholders' equity	$ 415,460	$ 354,161

Carrying value as of the balance sheet date of obligations incurred through that date and payable for obligations related to clinical development services. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

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Theravance Biopharma, Inc. 10-Q