Woodford invests $55M in Theravance Biopharma

Theravance Biopharma Inc. (NASDAQ:TBPH) raised $55 million through the sale of 3.9 million shares at $14.25 in a registered direct offering to Woodford Investment Management. The offering was sold from an existing shelf registration.

In September, Theravance Biopharma and partner Mylan N.V. (NASDAQ:MYL) began three Phase III studies of revefenacin ( TD-4208), an inhaled long-acting muscarinic antagonist (LAMA), to treat chronic obstructive pulmonary disease (COPD). ...