Theravance Announces Q1 Financial Results

Theravance Inc (NASDAQ:THRX) released its financial report for the quarter ended March 31, which showed revenue of $1.3 million and a net loss of $37.4 million.

As quoted in the press release:

Theravance is off to a strong start in 2013 highlighted by the recent FDA Advisory Committee meeting which recommended approval of BREO™ ELLIPTA™ for the treatment of COPD,” said Rick E Winningham, Chief Executive Officer. “This positive outcome marks another important milestone for Theravance in a year of transformation and potential growth. Today we issued a press release announcing our intention to separate the late-stage respiratory assets partnered with GSK from our biopharmaceutical operations to create two independent publicly traded companies. We believe this will provide investors with the opportunity to unlock potential value from two disparate sets of assets. Overall, we believe that Theravance is extremely well positioned both strategically and financially.

Click here to read the full Theravance Inc (NASDAQ:THRX) press release.