Theravance Biopharma's CYPRESS Phase 3 study for ampreloxetine failed to meet its primary endpoint in treating symptomatic neurogenic orthostatic hypotension (nOH), leading to program termination.124
Company announced 50% workforce reduction, complete wind-down of R&D organization, and ~50% cut in G&A employees, to be implemented over next two quarters.1234
Restructuring aims to reduce operating expenses by ~60%, saving ~$70 million through Q3 2026, with one-time severance costs of $5-7 million.134
Despite setbacks, expects global net sales of at least $3.51 billion in 2026 from YUPELRI for COPD.1
Stock plunged nearly 30% to $13.82 post-announcement, breaking below 200-day moving average.1
Sources:
1. https://intellectia.ai/news/stock/theravance-biopharma-cuts-workforce-by-50-amid-phase-3-trial-failure
2. https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2026
3. https://www.marketscreener.com/news/theravance-biopharma-inc-plans-to-reduce-workforce-by-approximately-50-with-complete-wind-down-of-ce7e5cd2da8ff32c
4. https://www.fiercebiotech.com/biotech/theravance-halves-headcount-ends-rd-work-after-phase-3-rare-disease-fail