Jones Trading Downgrades Theravance Biopharma (TBPH) to Hold
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THERAVANCE BIOPHARMA ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY ZYMEWORKS FOR $17.00 PER SHARE IN CASH PLUS A CONTINGENT VALUE RIGHT
June 29, 2026 6:00 AM EDTTheravance Biopharma shareholders to receive $17.00 per share in cash, representing an equity value of approximately $929 millionTheravance Biopharma shareholders to receive a contingent value right (CVR) entitling them to 80% of net proceeds from any future license, divestiture or other monetization of ampreloxetine within the next ten yearsTransaction follows a comprehensive strategic alternatives review conducted by the Company's Strategic Review Committee and Board of DirectorsTransaction expected to close in the second half... More
Zymeworks to Acquire Theravance Biopharma, Inc.
June 29, 2026 6:00 AM EDTAcquisition adds YUPELRI® (revefenacin), the first and only approved nebulized long-acting muscarinic antagonist (LAMA) for the maintenance treatment of COPD to Zymeworks' portfolioAcquisition of Theravance Biopharma at $17 per share is supported by an innovative non-recourse financing structure that enhances shareholder value by minimizing Zymeworks net capital at risk Transaction expected to be accretive to earnings and cash flow upon closing. YUPELRI® U.S. profit share and ex-U.S. royalties generate ~$60 million annualised cash flow at current run-rates, with continued expected... More
