Theravance Bio: 1Q Earnings Snapshot
GEORGE TOWN, Cayman Islands (AP) _ Theravance Biopharma Inc. (TBPH) on Wednesday reported a loss of $83.1 million in its first quarter.
The George Town, Cayman Islands-based company said it had a loss of $1.40 per share. Losses, adjusted to extinguish debt, were $1.14 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.06 per share.
The biopharmaceutical company posted revenue of $19.9 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $18 million.
Theravance Bio shares have climbed nearly 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.13, an increase of 12% in the last 12 months.