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Theravance, Inc. (THRX) Reports Second Quarter 2014 Financial Results



8/7/2014 10:57:59 AM

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SOUTH SAN FRANCISCO, CA, Aug 06, 2014 (Marketwired via COMTEX) -- Theravance, Inc. THRX +1.20% today reported financial results for the quarter ended June 30, 2014 and announced that its Board of Directors approved a $0.25 per share cash dividend to be paid on September 18, 2014 to stockholders of record as of the close of business on August 28, 2014. Royalties earned in the second quarter of 2014 were $3.3 million, which were partially offset by amortization of intangible assets of $2.6 million resulting in net royalty revenues of approximately $0.7 million from Glaxo Group Limited (GSK) related to net sales of RELVAR(R)/BREO(R) ELLIPTA(R) and ANORO(R) ELLIPTA(R) from GSK. Net loss for the second quarter of 2014 was $63.6 million or $0.57 per diluted share. Cash and cash equivalents, short-term investments, marketable securities and current restricted cash totaled $383.1 million as of June 30, 2014.

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