09:35 AM EST, 03/03/2026 (MT Newswires) -- Theravance Biopharma ( TBPH ) shares fell by more than 26% in early trading Tuesday after the company said its blood pressure drug ampreloxetine failed to meet its primary endpoint in a phase 3 trial.

As a result, the company said it will wind down its ampreloxetine program, accelerate a review to evaluate alternatives and implement an organizational restructuring expected to reduce operating expenses by about 60% compared with 2025.

Theravance said it will align its resources to focus on its Yupelri medication, which is approved in the US to treat patients with chronic obstructive pulmonary disease, it said.

Cost savings from the restructuring and continued sales from Yupelri are expected to generate about $60 million to $70 million of annualized cash flow from Q3, the company said.