Theravance To Slash Headcount By 75% After Latest Clinical Trial Setback
The Phase III failure of ampreloxetine in nOH followed disappointing Phase IIb data for izencitinib in ulcerative colitis in August. Theravance narrows focus to respiratory disease, including label expansions for Yupelri.
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Ampreloxetine failed in a Phase III trial in 2021, but the company will start a registrational trial by the end of Q1 for the drug in the multiple system atrophy population, where it has shown efficacy.
Public Company Financings: Theravance sold its 85% interest in Trelegy royalties from GSK and Innoviva sold its 15% interest for up to $1.8bn in total. Also, ProKidney grossed $597m from its SPAC merger, Pliant raised $200m in a post-Phase IIa offering and Marinus earned $110m in a PRV sale.
The US firm’s ampreloxetine flunked a second Phase III orthostatic hypotension study but positive data in a prespecified subset have left a narrow path for a potential collaboration and approval, its CEO tells Scrip.