The stock of Theravance Biopharma (NASDAQ: TBPH) is losing ground after a phase 2 trial failed to meet its primary endpoint. Investors disappointed with the company's mid-stage pipeline asset sent the stock down 34.4% as of 2:28 p.m. EDT on Tuesday.
Sales of Theravance Biopharma's commercial-stage drugs aren't strong enough yet to make ends meet. Investors hoping izencitinib can become a blockbuster treatment that bridges the gap were met with disappointment today.
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Here's Why Theravance Biopharma Stock Is Tanking Today