The delisting under Rule 12d2-2(a)(3) indicates the securities have been fully redeemed, retired, or the company has been acquired. Shareholders should expect no further trading on Nasdaq; any remaining value will be determined by the terms of the underlying corporate transaction (not disclosed here). Monitor for a subsequent Form 15 or merger filing for final distribution details.
Price Chart
Executive Summary
The Nasdaq Stock Market LLC filed a Form 25-NSE to report the removal from listing and registration of Theravance Biopharma, Inc.'s ordinary shares, effective September 23, 2026. The delisting is based on Rule 17 CFR 240.12d2-2(a)(3), which applies to matured, redeemed, or retired securities. This filing confirms the company's securities are no longer traded on Nasdaq, likely following a going-private transaction or merger.
Key Facts
- Form 25-NSE filed by Nasdaq Stock Market LLC to remove Theravance Biopharma, Inc.'s ordinary shares from listing and registration.
- Delisting effective September 23, 2026, under SEC Rule 17 CFR 240.12d2-2(a)(3) (matured, redeemed, or retired securities).
- Theravance Biopharma's SEC file number is 001-36033; the company is incorporated in the Cayman Islands with business address in South San Francisco, CA.
- No financial details, merger consideration, or redemption price are disclosed in the filing.
Financial Impact
Delisting event with no disclosed financial terms; the securities are being removed from Nasdaq, implying a terminal corporate event (e.g., merger, redemption, or going-private).
Risk Factors
- Complete loss of public market liquidity for ordinary shares.
- No disclosed redemption or merger consideration in this filing — shareholders may receive zero or nominal value if the securities were redeemed at par or extinguished.
- Potential for the company to cease SEC reporting obligations, reducing transparency.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 25-NSE Filing (Primary) | 0001354457-26-000901 |
| Document: 0001354457-26-000901-index-headers.html | 0001354457-26-000901 |
| Document: 0001354457-26-000901-index.html | 0001354457-26-000901 |
| Document: 0001354457-26-000901.txt | 0001354457-26-000901 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 15-12G | — | awaiting T+20 | — | — |
Sep 25, 2026 4w ago | SC 13D/A | $17.04 | awaiting T+20 | — | — |
Sep 23, 2026 4w ago | 25-NSE | $17.05 | awaiting T+20 | — | — |
Aug 25, 2026 8w ago | DEFA14A | $17.03 $17.03 | · 0.00% | ▼ −0.23% | — |
Aug 21, 2026 9w ago | DEFM14A | $17.01 $17.05 | ▲ +0.24% | ▲ +0.76% | — |
Aug 11, 2026 11w ago | PREM14A | $16.91 $17.06 | ▲ +0.89% | ▲ +1.95% | — |
Aug 10, 2026 11w ago | 8-K | $16.91 $17.06 | ▲ +0.89% | ▲ +1.80% | — |
Jun 29, 2026 17w ago | 8-K | $17.06 $16.86 | ▼ −1.17% | ▼ −0.89% | — |
Jun 23, 2026 17w ago | 8-K | $17.27 $16.81 | ▼ −2.66% | ▼ −4.60% | — |
May 7, 2026 24w ago | 8-K | $17.02 $15.92 | ▼ −6.46% | ▼ −9.60% | — |
US Market Status
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