Theravance Biopharma to be acquired by Zymeworks for $17 per share
Aug 10, 2026, 8:34 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
A cash buyout at $17/ TBPH share provides an immediate premium to TBPH’s trading levels and delivers certainty of value, while the CVR adds optional upside. If the deal closes in 2H26, TBPH stock could move toward the offer price, with potential upside from the CVR depending on future ampreloxetine monetization. Similar takeout dynamics have historically produced outsized near-term gains for shareholders but hinge on shareholder approval and regulatory closing conditions.
AI summary
What happened, with direct paths to the underlying reporting
Theravance Biopharma (TBPH) announced a definitive agreement to be acquired by Zymeworks (ZYME) for $17 per share in cash, plus a contingent value right. The deal, expected to close in the second half of 2026 and subject to shareholder approval, signals value for TBPH shareholders while TBPH’s YUPELRI collaboration with Viatris continues to contribute cash flow amid ongoing restructuring and cost reductions.
Theravance Biopharma to be acquired by Zymeworks for $17 per share; CVR included.
Close expected in 2H 2026, subject to TBPH shareholder approval and closing conditions.
YUPELRI: Q2 2026 collaboration revenue up 11% YoY; TBPH 35% share implied at $24.7m.
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