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.

Market News and Data brought to you by Benzinga APIs
Posted In: Small CapMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!