An experimental drug that Theravance Biopharma touted as a potential first-in-class medicine for multiple system atrophy has failed a Phase 3 study, triggering a corporate shakeup that ends this program and the company’s R&D, leading to the layoff of about 50% of employees.In connection with the restructuring, Dublin-based Theravance said Tuesday that a committee comprised of members of its board of directors is reviewing strategic alternatives that could include a sale of the company.The Th...
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