Here's Why Theravance Biopharma Shares Are Moving

Theravance Biopharma Inc TBPH shares are trading higher by 2.78% to $10.35 Monday afternoon after the company authorized a $250 million capital return program.

What Else?

• Per the company, Theravance Biopharma has executed a definitive agreement with GSK to purchase all of GSK's equity stake in Theravance Biopharma, constituting approximately 9.6 million shares at $9.75 per share, with a closing date of September 20, 2022.
• The Company intends to commence a Dutch auction tender offer to purchase approximately $95 million of its ordinary shares in the near term.
• The Company plans to enter into an Open Market Stock Repurchase Plan to facilitate the repurchase of approximately $60 million of its ordinary shares in open market purchases subsequent to the completion of the tender offer, with a goal to complete this program by the end of 2023.

See Also: Why Purple Innovation Shares Are Skyrocketing 50% Higher Monday

According to data from Benzinga Pro, Theravance Biopharma has a 52-week high of $13.17 and a 52-week low of $6.54.