Theravance Inc. (THRX: Quote) and GlaxoSmithKline (GSK: Quote) announced late Wednesday afternoon that the Pulmonary-Allergy Drugs Advisory Committee of the FDA voted that the efficacy and safety data provide substantial evidence to support approval of BREO ELLIPTA.
Theravance gapped open dramatically higher Thursday, but traded in a range throughout the session. The stock closed up by 4.55 at $32.56 on the highest volume of the year. Theravance broke out past resistance and set a new high for the year.
by RTT Staff Writer
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