Why Theravance Biopharma Stock Dived 16% Today

Shares of Theravance Bipharma (NASDAQ: TBPH) really took it on the chin Wednesday. Investors sold off the stock following another clinical-trial flop by the company, and its subsequent announcement of severe belt-tightening.

This morning, Theravance divulged the top-line results from its phase 3 study of Ampreloxetine, a drug aimed at treating symptomatic neurogenic orthostatic hypotension (nOH, essentially a disorder in which the body does not effectively regulate blood pressure).

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Source Fool.com