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BRIEF-Theravance Biopharma Reports Phase 3 Cypress Study Did Not Meet Primary Endpoint Board Accelerates Strategic Review And Announces Cost Reduction Actions

Reuters
Mar 03
BRIEF-<a href="https://laohu8.com/S/TBPH">Theravance Biopharma</a> Reports Phase 3 Cypress Study Did Not Meet Primary Endpoint Board Accelerates Strategic Review And Announces Cost Reduction Actions

March 3 (Reuters) - Theravance Biopharma Inc TBPH.O:

  • THERAVANCE BIOPHARMA REPORTS PHASE 3 CYPRESS STUDY DID NOT MEET PRIMARY ENDPOINT; BOARD ACCELERATES STRATEGIC REVIEW AND ANNOUNCES COST REDUCTION ACTIONS

  • THERAVANCE BIOPHARMA REPORTS PHASE 3 CYPRESS STUDY DID NOT MEET PRIMARY ENDPOINT; BOARD ACCELERATES STRATEGIC REVIEW AND ANNOUNCES COST REDUCTION ACTIONS

  • THERAVANCE BIOPHARMA INC: PHASE 3 CYPRESS STUDY DID NOT MEET PRIMARY ENDPOINT

  • THERAVANCE BIOPHARMA INC: STRATEGIC REVIEW COMMITTEE ACCELERATING ONGOING EFFORTS TO EVALUATE ALTERNATIVES TO MAXIMIZE SHAREHOLDER VALUE

  • THERAVANCE BIOPHARMA INC: ORGANIZATIONAL RESTRUCTURING TO REDUCE COST BASE BY APPROXIMATELY 60%

  • THERAVANCE BIOPHARMA INC: ORGANIZATIONAL RESTRUCTURING TO REDUCE COST BASE BY APPROXIMATELY 60% (OR APPROXIMATELY $70 MILLION)

  • THERAVANCE BIOPHARMA INC: RESTRUCTURING EXPECTED TO RESULT IN COMPANY GENERATING APPROXIMATELY $60 - $70 MILLION OF ANNUALIZED CASH FLOW

  • THERAVANCE BIOPHARMA INC: RESTRUCTURING EXPECTED TO RESULT IN COMPANY GENERATING APPROXIMATELY $60 - $70 MILLION OF ANNUALIZED CASH FLOW

  • THERAVANCE BIOPHARMA INC: RESTRUCTURING IS EXPECTED TO IMPACT APPROXIMATELY 50% OF OVERALL WORKFORCE

  • THERAVANCE BIOPHARMA INC: REDUCTION INCLUDES COMPLETE WIND-DOWN OF RESEARCH AND DEVELOPMENT ORGANIZATION AND A DECREASE OF APPROXIMATELY 50% IN G&A EMPLOYEES

  • THERAVANCE BIOPHARMA INC: EXPECTS TO INCUR APPROXIMATELY $5 TO $7 MILLION IN ONE-TIME CASH SEVERANCE COSTS

Source text: ID:nPn5Znz84a

Further company coverage: TBPH.O

((Reuters.Briefs@thomsonreuters.com;))

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