Theravance Biopharma Inc (TBPH) News & EventsTBPHTheravance Biopharma Inc

Nasdaq Futures Rise, PetMed Express Stock Soars 32%

Stock futures are higher before the open, with the Nasdaq leading gains as investors move back toward growth and technology names after last week's pressure. Oil prices are also easing from recent highs, reducing fears that a geopolitical shock could spill into inflation expectations.The key theme this week is shifting from geopolitics back toward macro data. Investors are watching labor market releases, including JOLTS and Thursday's payroll report, for clues on the Federal Reserve path. Markets continue to weigh a resilient economy against concerns that sticky inflation could keep the Fed more restrictive than expected.In pre-market trading, S&P 500 futures rose 0.76%, Nasdaq futures rose 1.03% and Dow futures rose 0.41%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -PetMed Expressup 32% after SilverCape Investments released an open letter to its board of directors calling on the board to engage with SilverCape on a revised proposal to acquire all outstanding shares of common stock of PetMed for $3.00 per share in cash with no financing contingencyCharterand SpaceXand up 24% and 2%, respectively, after a report that the companies discussed partnering on a consumer mobile phone offeringComcastup 21% after announcing its intention to separate into two independent publicly traded companies through a tax-free spin-off of NBCUniversal and SkyIridiumand Rocket Labup 22% and 9%, respectively, after Rocket Lab agreed to acquire all the outstanding shares of Iridium common stock for $54 per share in a cash and stock transactionLOWER -Zymeworksand Theravance Biopharmaboth down 2% after Zymeworks entered into a definitive agreement to acquire Theravance Biopharma for $17.00 per shareMartin Mariettadown 2% after entering into a definitive agreement to combine with Lhoist North America, a subsidiary of Lhoist Group, for $13.5B in cash and shares of Martin Marietta common stockBritish American Tobaccodown 1% after reporting its Fit2Win cost-cutting initiatives will impact 9,000 jobsVerizondown 1% after BT Groupand the company announced the signing of an agreement to combine their respective international enterprise operations into a 50:50 joint venture

Zymeworks to Acquire Theravance Biopharma for $17 per Share

Zymeworks (ZYME) announced it has entered into a definitive agreement to acquire Theravance Biopharma (TBPH). This proposed acquisition adds YUPELRI, the first and only nebulized, once-daily, long-acting muscarinic antagonist for the maintenance treatment of chronic obstructive pulmonary disease, to Zymeworks' partnered portfolio, furthering the company's commitment to improving outcomes for patients with serious diseases. Under the terms of the agreement, Zymeworks will acquire all the outstanding equity of Theravance Biopharma for $17.00 per share, which represents a total transaction value of approximately $929M in cash consideration subject to customary adjustments, which is payable at closing. The transaction has been unanimously approved by the boards of directors of both companies and is subject to customary closing conditions, including receipt of certain regulatory approvals and approval by Theravance Biopharma shareholders. The transaction is expected to close in the second half of 2026. The transaction is expected to be accounted for as a business combination. The purchase price is expected to be primarily allocated to identifiable intangible assets, including YUPELRI and contractual royalty streams, with any residual value recorded as goodwill. Potential milestone receipts will be evaluated as part of the purchase accounting process and recognized in accordance with applicable accounting standards. Zymeworks expects to provide additional details on the purchase price allocation upon closing of the transaction.