8-K filed September 15, 2021, 7:59 PM ET ticker TBPH CIK 0001583107

other material confidence high sentiment negative materiality 0.90

Theravance cuts 75% of staff; ampreloxetine Phase 3 misses primary endpoint

Theravance Biopharma, Inc.

Headcount reduction of ~75% (~270 positions); most complete Nov 2021, remainder Feb 2022.
Estimated $165M annualized operating expense savings in 2022; expects cash flow positive from 2H 2022.
Ampreloxetine Phase 3 study (0169) failed to meet primary endpoint; no safety concerns.
EVP & General Counsel Shafer resigns; SVP Sabesan leaves Nov 30; two directors (Whitesides, Gunderson) resign.

item 2.05 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Vijay Sabesan

Senior Vice President, Technical Operations

TBPH · Theravance Biopharma, Inc.

Effective: 2021-11-30
Filed: September 15, 2021, 7:59 PM ET

Vijay Sabesan, Senior Vice President, Technical Operations, a “named executive officer” from 2021, will leave the Company on November 30, 2021.

Departed

Robert V. Gunderson, Jr.

Director

TBPH · Theravance Biopharma, Inc.

Effective: 2021-09-11
Filed: September 15, 2021, 7:59 PM ET

Robert V. Gunderson, Jr. notified the Company of his resignation as a Director of the Company effective September 11, 2021

Departed

Braford J. Shafer

Executive Vice President and General Counsel

TBPH · Theravance Biopharma, Inc.

Effective: 2021-09-30
Filed: September 15, 2021, 7:59 PM ET

On September 13, 2021, Braford J. Shafer, a “named executive officer” from 2021, notified the Company of his resignation as its Executive Vice President and General Counsel effective on September 30, 2021.

Departed

George M. Whitesides

Director

TBPH · Theravance Biopharma, Inc.

Effective: 2021-09-14
Filed: September 15, 2021, 7:59 PM ET

George M. Whitesides notified the Company of his resignation as a Director of the Company effective September 14, 2021

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Vijay Sabesan departed as Senior Vice President, Technical Operations at Theravance Biopharma, Inc..

Action: departed
Role: Senior Vice President, Technical Operations

Exact text from the filing

Vijay Sabesan, Senior Vice President, Technical Operations, a “named executive officer” from 2021, will leave the Company on November 30, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert V. Gunderson, Jr. resigned as Director at Theravance Biopharma, Inc..

Action: resigned
Role: Director

Exact text from the filing

Robert V. Gunderson, Jr. notified the Company of his resignation as a Director of the Company effective September 11, 2021

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Braford J. Shafer resigned as Executive Vice President and General Counsel at Theravance Biopharma, Inc..

Action: resigned
Role: Executive Vice President and General Counsel

Exact text from the filing

On September 13, 2021, Braford J. Shafer, a “named executive officer” from 2021, notified the Company of his resignation as its Executive Vice President and General Counsel effective on September 30, 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

George M. Whitesides resigned as Director at Theravance Biopharma, Inc..

Action: resigned
Role: Director

Exact text from the filing

George M. Whitesides notified the Company of his resignation as a Director of the Company effective September 14, 2021

View on SEC.gov

Theravance Biopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-21-115681

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