Theravance proposes follow-on

Theravance Inc. (NASDAQ:THRX) proposed late Wednesday to sell 7.5 million shares in a follow-on underwritten by Morgan Stanley; Credit Suisse; and Leerink. If sold at Theravance's Wednesday close of $12.49, the company would raise $93.7 million. Theravance was off $0.08 on the day. ...