Theravance Biopharma shares slide 34% premarket on news to cut 75% of workforce in strategic overhau …

theravance biopharma shares slide 34 premarket on news to cut 75 of workforce in strategic overhaul

Sumary of Theravance Biopharma shares slide 34% premarket on news to cut 75% of workforce in strategic overhaul:

  • The company is expecting the actions to lead to annualized savings of about $165 million in 2022, versus updated 2021 guidance, and to make it cash flow positive starting in the second half of 2022. The company will focus its efforts on several approved medicines for COPD and asthma.

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