---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-109979"
form_type: "8-K"
ticker: "TBPH"
cik: "0001583107"
company_name: "Theravance Biopharma, Inc."
filed_at: "2026-09-23T20:17:30+00:00"
generated_at: "2026-09-23T20:19:36.807880+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Theravance completes $17/share cash-plus-CVR merger with Zymeworks; delists from Nasdaq

## Summary
- Merger closed Sept 23, 2026: each TBPH share converted to $17.00 cash plus one contingent value right (CVR).
- CVR pays 80% of net ampreloxetine license proceeds within 10 years, $50M milestone on first US/UK/Spain/France/Germany/Italy sale, and 10% of net sales.
- CEO Rick Winningham and all six directors resigned at closing; Kristin Stafford, Scott Platshon, Paul Schneider appointed as new directors.
- Ordinary shares delisted from Nasdaq; Form 25 to be filed with deregistration via Form 15 planned.
- Merger financed by Zymeworks through cash on hand plus new debt financing.

## SEC filing metadata
- accession: 0001104659-26-109979
- form_type: 8-K
- ticker: TBPH
- cik: 0001583107
- company_name: Theravance Biopharma, Inc.
- filed_at: 2026-09-23T20:17:30+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583107/000110465926109979/0001104659-26-109979-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583107/000110465926109979/tm2625984d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-109979
- JSON: https://secwatch.observer/filing/0001104659-26-109979.json
- Plain text: https://secwatch.observer/filing/0001104659-26-109979.txt

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