Theravance Biopharma (TBPH) to Offer $150M in Common Stock

Theravance Biopharma, Inc. (NASDAQ: TBPH) intends to offer $150.0 million of ordinary shares in an underwritten public offering. Theravance Biopharma also intends to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of additional ordinary shares. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Theravance Biopharma intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, research activities, preclinical and clinical development of product candidates, manufacture of pre-clinical, clinical and commercial drug supplies, selling and marketing expenses, capital expenditures, working capital, general and administrative expenses and acquisitions of technology or drug candidates.

Morgan Stanley, J.P. Morgan and Cowen are acting as the joint book-running managers for the offering.

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