Theravance slips after Zymeworks' $929 mln buyout deal

Zymeworks

29/06/2026 11:21

** Shares of Theravance Biopharma TBPH.O fall 2.7% to $17.15 premarket
** Zymeworks ZYME.O will buy Theravance in a deal worth about $929 million, cos say
** Zymeworks offers $17 per share in cash, a discount of nearly 3.6% to Theravance's last closing price of $17.63
** Deal expected to close in the second half of 2026, and has been approved by the boards of both cos
** Theravance's market cap is $908.88 mln as of last close - LSEG data
** As of last close, TBPH down 5.8% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))