Theravance Biopharma's stock slides 21% after Phase 4 trial of COPD treatment fails to meet main goal

Theravance Biopharma Inc.'s stock (TBPH) tumbled 21% early Friday,ter the biotech said a Phase 4 trial of its Yupelri treatment for patients with severe to very severe Chronic Obstructive Pulmonary Disease, or COPD, failed to meet its main goal. The trial dubled PFIR-2 aimed to show greater improvement in lung function for Yupelri delivered by standard jet nebulizer compared to Spiriva delivered via a dry powder inhaler in adults with COPD. "The study did not show a statistically significant difference betweenYupelri and Spiriva HandiHaler on the primary endpoint, change from baseline in trough forced expiratory volume in one second (FEV1) at Day 85," the company said in a statement. It did however show similar lung function in both arms of the study and showed safety and tolerability that was consistent with earlier studies. YUPELRI is approved in the U.S. for the maintenance treatment of patients with COPD. Spiriva HandiHaler is approved in the U.S. for the long-term, once-daily, maintenance treatment of bronchospasm associated with COPD, and for reducing COPD exacerbations, said the statement. The stock has gained 4% in the last 12 months, while the S&P 500 has gained 23%.

-Ciara Linnane

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01-05-24 0615ET

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