Theravance plans strategic review, including possible sale, after drug trial failure

Core Viewpoint - Theravance Biopharma is initiating a strategic review, including a potential sale, following the failure of its experimental drug ampreloxetine in a late-stage study for treating a blood pressure disorder [1] Company Summary - The drug ampreloxetine was tested in patients with multiple system atrophy, a rare disease that can cause significant drops in blood pressure when standing [1] - Patients taking ampreloxetine did not show a meaningful improvement in symptoms compared to those on a placebo [1] - Theravance is collaborating with investment bank Lazard for the strategic review, but there is no assurance that a deal will be finalized [1] - Shares of Theravance were halted in premarket trading following the announcement [1]