Theravance Biopharma tumbles as lung disease drug fails to meet main goal

Theravance Biopharma

05/01/2024 12:19

** Shares of drugmaker Theravance Biopharma  TBPH.O  fall
19.3% to $9.3 premarket 
    ** Co's lung disease drug, Yupelri, failed to meet the main
goal of a study that was conducted to compare improvements in
lung functions in adults with severe lung disease over 12 weeks
    ** Yupelri did not show a statistically significant
difference compared to private company Boehringer Ingelheim's
Spiriva 
    ** The FDA approved Yupelri in Nov. 2018 to treat chronic
obstructive pulmonary disease, a long-term lung disease that
causes breathing problems   
    ** Stock remained flat in 2023  

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))