Theravance Biopharma Inc. (NASDAQ:TBPH) Q4 2022 Results Conference Call February 27, 2023 5:00 PM ET

Company Participants

Rick Winningham - Chairman and Chief Executive Officer

Rhonda Farnum - Senior Vice President, Chief Business Officer

Rick Graham - Senior Vice President, Research and Development

Aziz Sawaf - Chief Financial Officer

Conference Call Participants

David Risinger - SVB Securities

Douglas Tsao - H.C. Wainwright

Eva Privitera - Cowen

Vikram Purohit - Morgan Stanley

Liisa Bayko - Evercore ISI

Operator

Ladies and gentlemen, good afternoon. I'd like to welcome everyone to the Theravance Biopharma Fourth Quarter and Full Year 2022 Conference Call. [Operator Instructions].

Also, today's conference is being recorded. And now I'd like to turn the call over to Rick Winningham, Chief Executive Officer. Please go ahead.

Rick Winningham

Good afternoon, and thank you for joining the Theravance Biopharma fourth quarter and full year 2022 conference call to discuss our business. I'll remind you that this call will contain forward-looking statements that involve risks and uncertainties, including statements about our development pipeline, expected benefits of our products, anticipated timing of clinical trials, regular filings and expected financial results.

Information concerning factors that could cause results to differ materially from our forward-looking statements is described further in our filings with the SEC.

I drift your attention to Slide 3. Joining me today are Rhonda Farnum, Chief Business Officer; Rick Graham, Research and Development; and Aziz Sawaf, Chief Financial Officer. Before I get started, I'd like to make a brief statement regarding public announcement that provide made earlier today, the Board management are committed to acting in the best interest of the company and all of its shareholders, and we're open to evaluating all ideas to maximize shareholder value, including those from Irenic.

We're disappointed that Irenic has chosen to make a public announcement of this nature as we had engaged in substantive constructive dialogue on multiple occasions to work cooperatively with them.

We've been offered to speak with them under a nondisclosure agreement and we'll discuss their ideas and our upcoming plans, but our offers were refused. Our Nominating and Governance Committee is regular board refreshment process in place to thoroughly evaluate all potential candidates and their skill sets, including relevant industry experience and public board experience.

Our committee and other members of our Board and management team met with Andy Dodge to consider him in good faith as a candidate to join our Board. But given this lack of health care and relevant public company board experience, we ultimately determined that he was not the most suitable candidate for the board.