Theravance Q3 Loss Sharply Narrows, Approves Dividend - Quick Facts

(RTTNews) - Theravance, Inc. (THRX) reported a net loss of $21.27 million or $0.19 per share for the third quarter, sharply narrower than $46.99 million or $0.44 per share in the year-ago quarter.

Loss from continuing operations for the quarter widened to $21.27 million or $0.19 per share from $9.45 million or $0.09 per share in the prior-year quarter.

Total net revenue for the quarter surged to $1.0 million from $0.42 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share on revenue of $6.27 million for the quarter.

The Board of Directors also approved a $0.25 per share cash dividend, payable on December 23 to stockholders of record as of the close of business on November 25, 2014.

The company also appointed William Waltrip as chairman of the board, effective October 30, 2014, as it completed the management and governance separation from Theravance Biopharma, Inc. (TBPH).