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Theravance Biopharma Plans Upcoming Stock Sale; Shares Sink Nearly 10% in Extended Trading

firstwordpharmaJune 25, 2021

Tag: Theravance , ampreloxetine , izencitinib

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Shares of Theravance Biopharma were down almost 10% in after-hours trading on Thursday after the company disclosed plans for a public offering of its common stock, as reported by Fidelity.

The company expects to use the net proceeds for general corporate purposes, including the ongoing development of its drug ampreloxetine to treat neurogenic orthostatic hypotension and for izencitinib, a potential Crohn's disease treatment.

It said any remaining proceeds will be used to advance other clinical and preclinical candidates in addition to working capital and potential acquisitions of additional technology or drug candidates.

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