Lazard, Inc. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness. The Asset Management segment provides global investment solutions and investment management services. The company was founded by Alexandre Lazard, Lazare Lazard, and Simon Lazard in 1848 and is headquartered in New York, NY.
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- Theravance Biopharma's Phase 3 CYPRESS study evaluating ampreloxetine for neurogenic orthostatic hypotension in multiple system atrophy patients failed to meet its primary endpoint, leading to program termination. - The company is implementing a 60% cost reduction through organizational restructuring, including complete R&D wind-down and 50% workforce reduction, expected to save approximately $70 million annually. - Theravance's Strategic Review Committee is accelerating evaluation of value-maximizing alternatives, including potential company sale, while focusing on YUPELRI as its core commercial asset. - With $400 million expected cash at Q1 2026 end and projected $60-70 million annual cash flow from YUPELRI, the company maintains strong financial position despite clinical setback.
- Galapagos has appointed Dr. Neil Johnston and Devang Bhuva to its Board of Directors effective November 1, 2025, bringing extensive business development and financial leadership expertise. - The appointments are part of the company's strategic transformation to focus on business development activities and building a pipeline of novel medicines in areas of high unmet medical need. - Three current directors, including Dr. Elisabeth Svanberg, Dr. Susanne Schaffert, and Andrew Dickinson from Gilead, will step down as part of the board restructuring. - The changes align the board composition with Galapagos' pivot toward sustainable growth through focused execution of its business development strategy.
