---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-078453"
form_type: "8-K"
ticker: "TBPH"
cik: "0001583107"
company_name: "Theravance Biopharma, Inc."
filed_at: "2026-06-29T10:30:58+00:00"
generated_at: "2026-06-29T10:35:14.735868+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Theravance Biopharma to be acquired by Zymeworks for $17.00/share cash plus CVR

## Summary
- Shareholders receive $17.00/share cash (~$929M equity value) plus a CVR for 80% of net proceeds from ampreloxetine monetization over ten years.
- Transaction represents a 22% premium to TBPH's March 3, 2026 close and 10% premium to VWAP since then.
- Merger expected to close in H2 2026, subject to shareholder vote (2/3 majority), HSR clearance, and customary conditions.
- Termination fees: $32.515M payable by either party under certain circumstances.
- Parent's debt financing commitment from OMERS Life Sciences; no financing condition for closing.

## SEC filing metadata
- accession: 0001104659-26-078453
- form_type: 8-K
- ticker: TBPH
- cik: 0001583107
- company_name: Theravance Biopharma, Inc.
- filed_at: 2026-06-29T10:30:58+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583107/000110465926078453/0001104659-26-078453-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583107/000110465926078453/tm2619064d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-078453
- JSON: https://secwatch.observer/filing/0001104659-26-078453.json
- Plain text: https://secwatch.observer/filing/0001104659-26-078453.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.