Theravance Reports Second Quarter 2015 Financial Results

SOUTH SAN FRANCISCO, CA, Jul 29, 2015 (Marketwired via COMTEX) -- Theravance, Inc. THRX, -8.77% today reported financial results for the second quarter ended June 30, 2015. Royalties from sales of RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R) earned from Glaxo Group Limited (GSK) during the second quarter of 2015 were $13.9 million, a quarter-over-quarter increase of 37 percent compared to the first quarter of 2015. Income from operations increased to $5.1 million, compared to $0.7 million in the first quarter, while adjusted EBITDA for the second quarter of 2015 was $10.4 million. Net loss for the second quarter 2015 was $7.8 million or $0.07 per share. Cash and cash equivalents, short-term investments, and marketable securities totaled $229.3 million as of June 30, 2015.

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