Rhonda Farnum, Senior Vice President of Communications and Medical (TASE:PMCN) Affairs at Theravance Biopharma Inc . (NASDAQ:TBPH), recently sold a portion of her shares in the company. The stock has shown strong momentum with a 14.57% gain over the past week and is trading near its 52-week high of $10.44. According to a recent SEC filing, Farnum sold 4,000 ordinary shares at a price of $9.00 each, totaling $36,000. Following this transaction, she retains ownership of 309,565 shares in the company. This sale was executed as part of a pre-established 10b5-1 trading plan. While this insider sale occurred, InvestingPro data shows the company maintains strong financial health with a current ratio of 4.97, and analysts expect positive earnings of $0.12 per share this fiscal year. For deeper insights into insider trading patterns and 8 additional key ProTips, visit InvestingPro.
In other recent news, Theravance Biopharma has reported a positive third quarter for 2024, with a 12% increase in total revenue surpassing expectations, and a 13% rise in operating income. However, earnings per share fell short due to a non-cash impairment charge. Leerink Partners maintained a Market Perform rating on the company's shares, indicating a neutral stance. This comes amid significant sales growth for the company's respiratory drug, Yupelri, and an 8% year-over-year increase in collaboration revenue.
Theravance Biopharma is also advancing in its clinical studies, notably the CYPRESS study for Ampreloxetine, expected to be completed by mid-2025. In other developments, the company has separated the roles of CEO and Chair of the Board, with Susannah Gray appointed as Chair, and established a committee to review strategic alternatives for key assets. Additionally, Theravance Biopharma has expressed its intention to return excess capital to shareholders. These are recent developments contributing to the company's ongoing growth and strategic progress.
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