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Delaware Biotech Company Considers Sale After Drug Trial Setback

Tuesday, March 3, 2026 at 9:21 AM

Theravance Biopharma announced Tuesday it will explore strategic options, potentially including selling the company, following disappointing results from a clinical trial. The company's experimental medication for a rare blood pressure condition failed to show significant benefits over a placebo in late-stage testing.

A Delaware-area biotechnology company announced Tuesday it will explore selling itself or other strategic alternatives following disappointing results from a major drug trial.

Theravance Biopharma revealed that its experimental medication ampreloxetine did not achieve its primary objectives in advanced clinical testing. The treatment was designed to help patients with multiple system atrophy, an uncommon condition that causes potentially dangerous blood pressure drops when patients stand up.

According to the company’s announcement, participants who received the experimental treatment showed no significant symptom improvements when compared to those who received inactive placebo treatments.

The biopharmaceutical firm has enlisted investment banking firm Lazard to assist with evaluating its options, though company officials cautioned that no transaction is guaranteed to occur.

Trading of Theravance shares was suspended during pre-market hours following the announcement.

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