Shares of biopharmaceutical company Theravance Inc. (NASDAQ THRX) jumped in Tuesday premarket electronic trading after Theravance said two drugs it is developing with GlaxoSmithKline PLC were effective in midstage trials.
On Monday, Theravance said the two drugs, known as 444 and 797, were effective as once-a-day treatments for asthma and chronic obstructive pulmonary disease. The South San Francisco-based company said 444 was more effective in widening air passages in the lungs. The drug will be the company's main focus in future trials, while 797 will be developed as a backup
On Monday, Theravance said the two drugs, known as 444 and 797, were effective as once-a-day treatments for asthma and chronic obstructive pulmonary disease. The South San Francisco-based company said 444 was more effective in widening air passages in the lungs. The drug will be the company's main focus in future trials, while 797 will be developed as a backup
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