Theravance Phase 3 CYPRESS Failure Triggers 50% Workforce Cut, Science CoRaises $230M for Retinal BCI + Sotyktu PsA PDUFA Tomorrow

Theravance Biopharma’s Phase 3 CYPRESS trial of ampreloxetine in neurogenic orthostatic hypotension fails to meet the primary OHSA endpoint at week 8. The company announces a 50% workforce reduction, shuts down R&D, and targets 60% cash burn reduction ($70M annual savings) as it pivots to Yupelri (revefenacin) as its sole commercial asset. Stock drops 26% from $18.95 to $13.96. Science Corporation closes a $230 million Series C at a $1.5 billion valuation for its PRIMA retinal brain-computer interface — 80% of patients in the NEJM-published trial showed meaningful visual acuity improvement. Roche commits $484 million over fiveyears to South Korea’s biopharma ecosystem. BMS Sotyktu psoriatic arthritis PDUFA is tomorrow, March 6. Lantheus PSMA PET imaging PDUFA also March 6.