Theravance takes a gut punch as J&J-partnered JAK drug flops key test in ulcerative colitis

Theravance’s izencitinib, a “gut-selective” JAK inhibitor developed for ulcerative colitis and Crohn’s disease, failed a key Phase II test, giving the company no choice but to slice R&D costs on that program and send investors running for the hills. A planned Phase III study in UC also won’t be happening, executives confirmed on a Monday call with analysts.