Limited value in Theravance's pipeline after multiple failures- analysts

Theravance Biopharma

16/09/2021 12:53

** At least 5 brokerages cut PT on Theravance Biopharma Inc
 TBPH.O  after the drug developer on Wednesday said its blood
pressure drug candidate, ampreloxetine, failed in a late-stage
study  urn:newsml:reuters.com:*:nL4N2QH2RQ
    ** TBPH also said it will halt the development of all
non-respiratory disease related programs and focus on
development of drugs for respiratory diseases 
    ** J.P. Morgan says after numerous setbacks over the past
~12 months, it does not see much value in TBPH's pipeline in the
near term, cuts PT on stock to $7 from $17 and downgrades to
"underweight" from "overweight"
    ** Needham does not see a bright growth outlook for TBPH
given absence of catalysts in co's pipeline over the next few
years as well as modest revenue estimates for drugs on which co
is eligible for sales royalties
    ** Needham downgrades TBPH to "hold" from "buy"
    ** H.C. Wainwright cuts PT on TBPH to $8 from $21, saying it
does not see reason for the stock to rise in value in the
near-term, but hopes that the company's "return to its roots in
respiratory" would lead to eventual gains
    ** Co's bowel disease drug candidate and its COVID-19
therapy have failed in their respective mid-stage studies in
recent months  urn:newsml:reuters.com:*:nL4N2PV2G3  urn:newsml:reuters.com:*:nL4N2PV2G3
    ** TBPH plunged nearly 62% YTD, including Wednesday's losses
of 15.8%

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))