DUBLIN, June 24, 2021 /PRNewswire/ -- Theravance
Biopharma, Inc. (NASDAQ: TBPH) ("Theravance Biopharma"), a
diversified biopharmaceutical company primarily focused on the
discovery, development and commercialization of organ-selective
medicines, announced today that it intends to offer its ordinary
shares in an underwritten public offering. Theravance Biopharma
also intends to grant the underwriters a 30-day option to purchase
up to an additional 15% of the number of ordinary shares in the
offering. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Theravance Biopharma intends to use the net proceeds from
this offering for general corporate purposes, including further
development of (1) its norepinephrine reuptake inhibitor,
ampreloxetine, which is in a Phase 3 clinical program for
neurogenic orthostatic hypotension and (2) its gut-selective
pan-Janus kinase inhibitor izencitinib, which is in a Phase
2b/3 clinical program for ulcerative
colitis and Phase 2 clinical program for Crohn's disease. Any
remaining net proceeds will be used for the advancement of its
other clinical and preclinical product candidates, working capital,
and acquisitions of technology or drug candidates.
SVB Leerink, Evercore ISI, and Credit Suisse are acting as
bookrunners for the offering.
A shelf registration statement relating to the offered shares
was filed with the SEC and is effective. A preliminary prospectus
supplement and accompanying prospectus related to the offering will
be filed with the SEC and will be available on the SEC's website
located at http://www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to this
offering may be obtained from SVB Leerink LLC, Attention: Syndicate
Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at
1-800-808-7525 ext. 6105, or by email at syndicate@svbleerink.com;
Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East
52nd Street, 36th Floor, New York,
NY 10055, or by telephone at (888) 474 0200, or by email at
ecm.prospectus@evercore.com; or Credit Suisse Securities
(USA) LLC, Attention: Prospectus
Department, 6933 Louis Stephens Drive, Raleigh, NC 27560, or by phone:
1-800-221-1037, or by e-mail at
usa.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: This announcement
contains "forward-looking statements" such as those,
among others, relating to Theravance Biopharma's expectations
regarding the completion, timing and size of the proposed public
offering. These statements are subject to significant risks and
uncertainties; actual results could differ materially from those
projected and Theravance Biopharma cautions investors not to place
undue reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to whether or not Theravance
Biopharma will be able to raise capital through the offering, the
final terms of the proposed public offering, market and other
conditions, and the satisfaction of customary closing conditions
related to the proposed public offering. There can be no
assurance that Theravance Biopharma will be able to complete the
public offering on the anticipated terms, or at all. Risks and
uncertainties relating to Theravance Biopharma and its business can
be found in the "Risk Factors" section of Theravance Biopharma's
Form 10-Q, filed with the SEC on May 6,
2021, in Theravance Biopharma's other filings with the SEC
and in the preliminary prospectus supplement relating to the
proposed offering to be filed with the SEC on June 24, 2021. Theravance Biopharma undertakes no
duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events or changes in Theravance Biopharma's expectations.
Contact: Gail Cohen
Corporate Communications
917-214-6603
investor.relations@theravance.com
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SOURCE Theravance Biopharma, Inc.