ASX:EVN.AX 24 January 2026

June 30, 2026, 10:24 AM EDT. Theravance Biopharma (TBPH) shares slipped about 3% on June 29, 2026, after Zymeworks (ZYME) said it would buy the company in an all-cash deal valued at around $929 million. The deal is set to close in H2 2026. Theravance went up for sale after its main drug, ampreloxetine, missed in Phase III trials. Most of Theravance's revenue came from a single COPD collaboration. The buyout gives shareholders $17 per share, which is a 22% premium to the March 3 close, plus CVRs linked to future ampreloxetine proceeds. Management called the move the best route for shareholder value as operational cuts and slow growth continue. Theravance has a Zacks Rank #4 (Sell).