Theravance (THRX) Misses Q3 EPS by 5c, Names New Chairman

Theravance (NASDAQ: THRX) reported Q3 EPS of ($0.19), $0.05 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $999 thousand versus the consensus estimate of $6.3 million.

"In the third quarter, we elevated our efforts to work closely with GSK to achieve our goal of optimizing the commercial potential and value of RELVAR/BREO ELLIPTA and ANORO ELLIPTA as both products continue to launch across the globe," said Michael W. Aguiar, Chief Executive Officer of Theravance. "Today, we announced that Bill Waltrip, who has served as a director since April 2000 and lead independent director since April 2005, was appointed as Chairman of our Board of Directors replacing Rick E Winningham who stepped down from the Board. This represents the final step in the process of separating the governance of Theravance and Theravance Biopharma, Inc. I would like to thank Rick for his contributions, guidance and leadership over the years and look forward to continuing to work closely with Bill going forward."

For earnings history and earnings-related data on Theravance (THRX) click here.

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