TBPH Meets Q2 Earnings Estimates, to be Acquired by Zymeworks
Theravance Biopharma reported second-quarter earnings that matched estimates. Following the discontinuation of ampreloxetine, the company implemented cost cuts and is set to be acquired by Zymeworks in a $929 million deal.
Why it matters — A Zymeworks watcher would care because this acquisition expands Zymeworks' scope and represents a significant corporate development for the company.