Institutional interest in digital assets continues to accelerate, and this September the industry’s key decision-makers will gather in Barcelona for the 12th European Blockchain Convention (EBC12).

Taking place on September 16–17, 2026, EBC12 will host 6,000+ attendees, 300+ speakers, and participants from more than 70 countries, creating one of Europe’s largest meeting points for blockchain, digital finance, and institutional crypto.

As an official media partner, we’re happy to share an exclusive 15% ticket discount. Register using the promo code SLR_15.

The Marketplace for Europe’s Digital Asset Economy

Rather than simply being another blockchain conference, EBC12 positions itself as the place where Europe’s fragmented digital asset ecosystem comes together.

Banks, asset managers, venture capital firms, exchanges, custody providers, blockchain protocols, fintech companies, regulators, and institutional investors will meet to discuss the next stage of market development.

The conference comes at a pivotal moment following regulatory progress across Europe, increasing institutional participation, and growing adoption of tokenized financial products.

Key Themes for 2026

EBC12’s program explores the issues that matter most to institutional participants, including:

• Market infrastructure for institutional adoption
• Tokenization of real-world assets
• Stablecoin ecosystems and payment innovation
• MiCA and global regulatory developments
• AI-powered financial services
• Investment strategies for digital assets
• Cross-border market collaboration

The speaker lineup includes representatives from organizations such as BlackRock, Cardano, WisdomTree, Bitwise, Baillie Gifford, Zodia Custody, Hilbert Capital, Midchains, Caisse des Dépôts, and many more.

Why Attend?

Europe remains one of the world’s most dynamic digital asset markets, but opportunities are spread across multiple jurisdictions.

EBC12 creates a single venue where investors, institutions, entrepreneurs, and policymakers can build partnerships, explore investment opportunities, and stay ahead of industry developments.

Whether you’re raising capital, expanding internationally, or looking for strategic partners, Barcelona becomes the industry’s meeting point this September.

Secure your ticket today and receive 15% off with promo code SLR_15.

Learn more: https://eblockchainconvention.com/european-blockchain-convention-12/

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Censorship of crypto assets has become so popular that a new dashboard is tallying the number of times companies have frozen tokens.

According to new tracker, stables.rip, two companies have frozen 3.7 billion stablecoins.

Although BTC as good as created the crypto industry as a protest against trusted intermediaries, stablecoins are more than twice as popular as BTC by trading volume.

By this measure, trusted intermediaries still maintain a majority share of power over most crypto transactions.

Despite crypto users being vaguely aware of these censorship practices as something nebulous, few could quantify its precise scope. This new tracker has helped turn an abstract reality into a specific quantity.

Alex Gladstein at the Human Rights Foundation pushed the headline into social media’s timeline on Friday, calling it a “Good reminder that while stables have utility they are not freedom money.” 

Matt Odell remarked, “Two billion frozen in two years. Wild.” 

Another widely shared comment contrasted stablecoin censorship with censorship-resistant BTC.

More crypto censorship than ever

The numbers behind the outrage are real.

Over the past six years, two stablecoin issuers have frozen approximately 3.7 billion coins on the Ethereum and Tron blockchains, censoring the power of those coins’ keyholders from moving them on-chain. 

Worse, the trend has accelerated substantially. Of that six-year total, 2.8 billion tokens, or 75%, froze within the past two years.

Although the number and value of coins is known, it’s impossible to determine how many transactions were unilaterally prevented.

The two most popular stablecoins, for example, trade over $40 trillion annually in on- and off-chain trades against other assets, according to CoinMarketCap.

Tether and Circle, the respective issuers of USDT and USDC, maintain privileged administrative control over their own smart contracts. 

At any time, they may add any wallet to a blacklist, forcing the tokens sitting in that wallet to stop moving until they lift the freeze.

Tether even goes a step further with a function named destroyBlackFunds, which lets it burn tokens outright.

Indeed, in 2025 alone, it incinerated $698 million of the $1.26 billion it froze that year.

Many other stablecoins, including the Trump family’s USD1, have similar powers to remotely freeze tokens.

The European Blockchain Convention (EBC12) returns to Barcelona on September 16–17, 2026, bringing together the institutions, investors, founders, and infrastructure providers shaping the future of digital assets.

Recognized as Europe’s Digital Asset Marketplace, EBC12 will welcome more than 6,000 attendees from over 70 countries, alongside 300+ speakers representing leading financial institutions, blockchain companies, investment firms, and regulators. The event offers a unique opportunity to meet the people driving the next phase of institutional crypto adoption—all under one roof.

As a media partner of EBC12, we’re pleased to offer our community an exclusive 15% discount on tickets. Use the code SLR_15 during registration.

Where Europe’s Digital Asset Industry Meets

The digital asset landscape has entered a new era. Following the approval of spot Bitcoin and Ethereum ETFs, the implementation of MiCA across the European Union, and growing institutional allocations to digital assets, the industry’s focus has shifted from adoption to execution.

EBC12 is designed to bring together the market participants making those decisions, including asset managers, banks, custodians, exchanges, blockchain protocols, venture capital firms, and policymakers.

What to Expect at EBC12

This year’s agenda focuses on the topics currently shaping global digital finance:

• Institutional investment strategies
• Digital asset regulation and MiCA implementation
• Real-world asset tokenization
• Stablecoins and CBDCs
• Institutional custody and market infrastructure
• AI applications across digital finance
• Capital allocation and market structure

Attendees will also have access to networking sessions, business meetings, exhibitions, startup showcases, and discussions with industry leaders from organizations including BlackRock, Cardano, Bitwise, WisdomTree, Baillie Gifford, Zodia Custody, Hilbert Capital, Midchains, and many others.

One Place. Two Days. Unlimited Opportunities.

Europe’s digital asset market remains highly fragmented across multiple financial centers. EBC12 bridges those markets by creating one environment where investors, founders, infrastructure providers, regulators, and institutions can connect efficiently.

What often requires months of meetings across different countries can happen over two productive days in Barcelona.

Register today and save 15% with the code SLR_15.

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The year 2026 has so far been an unforgiving one for gold. XAU/USD is down approximately 7% since the start of the year, and roughly 28% from the late-January peak — a significant correction, though a physiologically natural one following the sustained bullish rally of recent years.

Fundamental Picture

Several factors have converged to weigh on the precious metal. The Federal Reserve has maintained its restrictive stance, keeping interest rates elevated and reducing the appeal of a non-yielding asset like gold. Simultaneously, institutional portfolio rotation has forced financial players to liquidate a portion of the long positions accumulated during the bull run, amplifying selling pressure. Notably, even the US-Iran geopolitical tension — a scenario that would typically act as a tailwind for gold in its role as a so-called safe-haven asset — has failed to provide meaningful support, with the broader macro environment overriding the flight-to-safety narrative.

Technical Analysis of XAU/USD

Gold is currently navigating a bearish structure in the short-to-medium term, with price consistently reacting to a descending trendline drawn from the highs of early March, forming a clear sequence of lower highs and lower lows on the daily chart.

Price has now arrived at a technically and psychologically significant area: the $4,000 per ounce. This zone has demonstrated its relevance on multiple occasions in the past, and Thursday’s session (25 June) offered the first tentative signs of a reaction, with the daily candle closing in positive territory.

→ Bullish scenario: A sustained reaction from the $4,000 zone, accompanied by a confirmed break above the descending trendline — which converges with resistance in the $4,300–$4,380 area — would establish a new sequence of higher highs and open the door to a broader bullish recovery.

→ Bearish scenario: A decisive break below $4,000, followed by a retest and breach of recent lows, would confirm the continuation of the medium-term downtrend, potentially exposing the $3,400–$3,500 zone — a former major resistance that now acts as structural support.

Both scenarios remain open. Price action on the H4 and H1 timeframes will be key to determining gold’s next directional move in the sessions ahead.

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Over the past few weeks, financial markets have been more focused than ever on developments surrounding the Strait of Hormuz — a critical waterway at the centre of ongoing US-Iran negotiations. The back-and-forth of diplomatic headlines has injected significant volatility into energy markets, causing no shortage of headaches for traders and investors alike. For now, the price appears to have found a temporary equilibrium around the key $70 per barrel level, returning to territory last seen before the outbreak of the conflict. The question, then, arises naturally: has the period of uncertainty and volatility finally come to an end, or is this merely a pause before the next move?

Technical Analysis of Brent Crude Oil

From a technical standpoint, Brent crude oil has been in a clear bearish trend for approximately one month, consistently forming lower highs and lower lows on the daily chart. Early warning signs were already visible in a notably strong RSI divergence: while price recorded higher highs between March and May on the candlestick chart, the RSI readings in May were significantly weaker than those of March — a textbook signal that bullish momentum was gradually exhausting itself.

The decisive blow came with the breakdown of the $88–$90 per barrel support zone, followed shortly after by the breach of the ascending trendline drawn from the lows at the start of the year. Price has since moved to the technically and psychologically crucial zone around $70 per barrel, where it appears to be pausing before committing to a clear direction.

→ Bearish scenario: A break below the short-term trendline formed during Thursday’s session (25 June), combined with a confirmed close beneath $70, could open the path toward the $60 per barrel area — a scenario consistent with a progressively calmer geopolitical backdrop and a lasting US-Iran peace agreement.

→ Bullish scenario: For buyers to regain control, price would need to reclaim the current week’s highs around $81, confirming a clear bounce from the support zone around $70. This would set the stage for a potential retest of the former support — now acting as resistance — in the $88 zone, a level that could prove decisive for the asset’s medium-term direction. Here too, geopolitical developments remain the key wildcard.

Will crude oil find its equilibrium, or does further turbulence lie ahead for investors and traders?

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When most people hear the term Decentralized Finance (DeFi), they immediately think of cryptocurrencies, token trading, or speculative investments. While these applications helped popularize DeFi, they represent only the beginning of what decentralized financial infrastructure can achieve.

Today, DeFi is evolving into a programmable financial layer capable of supporting lending, payments, identity, insurance, trade finance, and even public services. Rather than existing solely for crypto enthusiasts, DeFi is gradually becoming a foundation for a more open, transparent, and efficient global financial system.

The future of DeFi is not just about digital assets—it is about rebuilding financial services to work for everyone.

What Is DeFi?

Decentralized Finance refers to financial applications built on blockchain networks that operate through smart contracts instead of traditional intermediaries such as banks, brokers, or clearing houses.

These applications allow users to:

• Borrow and lend assets
• Send payments globally
• Earn yield
• Trade assets
• Purchase insurance
• Participate in governance
• Access financial products without centralized approval

Because transactions occur on public blockchains, they are transparent, verifiable, and accessible to anyone with an internet connection.

Moving Beyond Crypto Trading

The earliest wave of DeFi focused heavily on cryptocurrency markets through decentralized exchanges, liquidity pools, and yield farming.

Today, developers are expanding DeFi into industries that have historically relied on slow, expensive, and centralized infrastructure.

These include:

• Real estate
• International trade
• Supply chains
• Healthcare
• Agriculture
• Digital identity
• Government services
• Intellectual property
• Energy markets

This broader vision positions DeFi as financial infrastructure rather than simply a marketplace for digital tokens.

Tokenizing Real-World Assets

One of the fastest-growing sectors in DeFi involves Real-World Assets (RWAs).

Physical assets such as:

• Real estate
• Treasury bonds
• Corporate debt
• Commodities
• Precious metals
• Infrastructure projects

can be represented as blockchain-based tokens.

Tokenization creates numerous benefits:

• Fractional ownership
• 24/7 global trading
• Faster settlement
• Improved liquidity
• Lower transaction costs
• Increased accessibility for smaller investors

Instead of needing millions to invest in commercial property, investors can own fractional shares represented digitally on-chain.

Borderless Lending and Credit

Traditional lending often depends on geography, banking relationships, and lengthy approval processes.

DeFi introduces programmable lending markets where capital can flow globally within minutes.

Future lending models may combine:

• Blockchain collateral
• Tokenized assets
• On-chain reputation
• Digital identity
• AI-powered credit analysis

This could expand access to financing for entrepreneurs and individuals who have limited access to conventional banking systems.

Payments Without Borders

Cross-border payments remain expensive and slow in many parts of the world.

DeFi enables near-instant settlement across countries without relying on multiple correspondent banks.

Businesses benefit through:

• Lower remittance fees
• Faster payroll
• International supplier payments
• Real-time settlements
• Continuous 24/7 availability

For developing economies, this can significantly improve financial inclusion.

Decentralized Insurance

Insurance is another sector being transformed.

Instead of relying entirely on centralized companies, decentralized insurance protocols can automate claims through smart contracts.

Potential applications include:

• Crop insurance
• Flight delay coverage
• Weather protection
• Smart contract protection
• Healthcare reimbursements
• Cybersecurity coverage

Automatic payouts based on verified data can reduce fraud while accelerating claims processing.

Digital Identity and Financial Access

Identity verification remains a major barrier to accessing financial services.

Blockchain-based digital identity systems allow users to maintain ownership of their credentials while selectively sharing necessary information.

Benefits include:

• Better privacy
• Reduced identity theft
• Portable financial history
• Easier onboarding
• Improved compliance
• Access to global financial services

This model gives individuals greater control over their personal information while simplifying verification.

Supply Chain Finance

Businesses often wait weeks or months before receiving payment for delivered goods.

DeFi can improve cash flow through programmable financing tied directly to blockchain-tracked supply chains.

Smart contracts can automatically release payments when:

• Goods are shipped
• Deliveries are verified
• Customs requirements are met
• Inventory is confirmed

This reduces paperwork while improving efficiency across international commerce.

Supporting the Creator Economy

Artists, writers, musicians, developers, and content creators increasingly rely on digital platforms to monetize their work.

DeFi expands monetization through:

• Royalty automation
• Revenue sharing
• Tokenized ownership
• Community funding
• Micropayments
• Direct peer-to-peer transactions

Creators gain more control over how they earn income while reducing dependence on centralized platforms.

Public Infrastructure and Government Services

Governments are exploring blockchain technology to improve transparency and accountability.

Potential applications include:

• Grant distribution
• Public procurement
• Social assistance
• Tax collection
• Municipal bonds
• Public budgeting

Transparent blockchain records can reduce fraud while improving public trust.

Challenges That Must Be Solved

Despite its enormous potential, DeFi still faces significant challenges before achieving mainstream adoption.

These include:

• Regulatory uncertainty
• Smart contract vulnerabilities
• User experience complexity
• Blockchain scalability
• Privacy concerns
• Cross-chain interoperability
• Consumer protection
• Institutional compliance

Addressing these issues will require collaboration among developers, regulators, businesses, and users.

The Future of DeFi

The next generation of DeFi will likely integrate with technologies such as artificial intelligence, decentralized identity, tokenized real-world assets, and interoperable blockchain networks.

Rather than replacing traditional finance overnight, DeFi is increasingly complementing existing financial systems by making them faster, more transparent, and more accessible.

As infrastructure matures, users may interact with decentralized financial services without even realizing blockchain powers them behind the scenes.

Conclusion

DeFi is no longer confined to cryptocurrency trading or speculative investments. It is steadily evolving into a comprehensive financial infrastructure capable of supporting lending, payments, insurance, identity, commerce, and public services on a global scale.

Its true promise lies in creating financial systems that are open, programmable, and accessible to anyone with an internet connection. While challenges remain, the expansion of DeFi beyond cryptocurrency marks an important step toward a more inclusive and efficient digital economy.

The future of finance will not be defined solely by digital currencies—it will be shaped by decentralized systems that enable people, businesses, and governments to exchange value with greater speed, transparency, and trust.

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Key Highlights

• LLY shares climbed approximately 6% on June 26 following positive recommendation from the European Medicines Agency for Jaypirca in leukemia patients
• A new Medicare GLP-1 Bridge initiative launching July 1 will provide Zepbound and Foundayo access for a $50 monthly patient contribution
• Analysts at Leerink Partners increased their LLY price target to $1,232 after these developments
• LLY shares rose 9.62% in the past week and reached a fresh 52-week peak of $1,206
• The company discontinued an early-stage prostate cancer trial combining abemaciclib with darolutamide

Eli Lilly shares experienced remarkable strength this past week. Multiple regulatory developments and clinical updates propelled LLY upward by 9.62% across seven trading sessions, culminating in a new 52-week peak of $1,206.

Eli Lilly and Company, LLY

The most significant daily gain occurred on June 26, when LLY climbed roughly 6%. This surge was triggered by the European Medicines Agency’s Committee for Medicinal Products for Human Use delivering a favorable recommendation for Jaypirca (pirtobrutinib) as a treatment option for chronic lymphocytic leukemia.

A favorable recommendation from the EMA generally represents the final hurdle before receiving European Commission authorization, which typically follows within a two-month timeframe. With Jaypirca already authorized by the FDA for U.S. distribution, European approval would unlock an additional significant market opportunity for this oncology therapy.

In response to these developments, Leerink Partners increased their price objective for LLY shares to $1,232.

New Medicare Weight Loss Drug Program Boosts Investor Confidence

Concurrent with the cancer drug developments, Medicare revealed a new GLP-1 Bridge initiative scheduled to begin July 1, 2026. This program will enable qualified beneficiaries to obtain Lilly’s obesity medications Zepbound and Foundayo for a $50 monthly patient contribution.

This represents a substantial cost reduction for numerous patients and may catalyze a significant increase in prescription volumes. Enhanced accessibility to GLP-1 therapies has emerged as a critical focus for investors monitoring Lilly’s obesity treatment portfolio.

The simultaneous announcement of the European regulatory advancement and the Medicare accessibility program on the same day provided investors with dual catalysts for optimism.

Clinical Development Progress Spanning Multiple Disease Categories

Beyond these immediate catalysts, Lilly provided investors with updates on two Phase 3 clinical studies evaluating donanemab for Alzheimer’s disease. One trial is assessing the therapy in preclinical Alzheimer’s patients within China. The second is investigating whether once-yearly administration can maintain therapeutic benefits in patients who demonstrated prior positive responses.

LLY additionally initiated a Phase 3 clinical trial for orforglipron, an oral formulation GLP-1 medication, targeting pediatric Type 2 diabetes patients. This advancement extends its metabolic disease development portfolio beyond adult populations.

Not all pipeline news was favorable. A Phase 1b clinical study evaluating the combination of abemaciclib and darolutamide in metastatic castration-resistant prostate cancer was halted prematurely, representing a disappointment in that particular oncology indication. Investors largely overlooked this setback considering the breadth of other pipeline advancement.

Earlier this month, Lilly disclosed favorable Phase 3 clinical results for retatrutide, its advanced-generation obesity medication that targets three hormone receptors — GIP, GLP-1, and glucagon. These findings were unveiled at the American Diabetes Association’s 86th Scientific Sessions on June 6 and subsequently published in The Lancet. Previous Phase 3 results demonstrated 24.2% weight reduction at 72 weeks in patients with cardiovascular disease and 28.7% weight loss in individuals with knee osteoarthritis.

LLY shares have appreciated 11.7% year-to-date. Analysts collectively maintain a consensus “Strong Buy” recommendation on the stock. As of Friday’s market close, Lilly reached $1,206 per share — establishing a new 52-week high.

Building secure obfuscation has proved brutally hard. An ideal version was proven impossible in 2001, which sent researchers after the weaker iO target instead, a roughly two-decade effort littered with broken attempts. The recent good news is that iO can now be built under reasonable security assumptions.

However, the downside is that the runtimes are, in Buterin’s word, “galactic,” efficient on paper but absurdly slow in practice.

Buterin compared the moment to where SNARKs, the zero-knowledge proofs now central to Ethereum’s scaling, sat around 2010, before years of optimization turned them from a curiosity into working infrastructure. The suggestion is that obfuscation could travel the same road from theoretical breakthrough to usable tool, even if a single run today would be hopelessly expensive.

Privacy coins like Monero (XMR) already hide things on a live blockchain, so why does Buterin treat this as unsolved? Because they hide different things. Monero obscures transaction data, such as who paid whom and how much, through ring signatures, stealth addresses and confidential amounts.

Obfuscation in Buterin’s sense hides the program’s logic, the code itself, not the data flowing through it. As he puts it, iO hides the code, not the data. Monero has done transaction privacy for over a decade, but program obfuscation has never run in production anywhere, and closing that gap is what his post is about.

The key macroeconomic factor for AUD/CAD remains the divergence in monetary policy between the two central banks. After three consecutive rate hikes since the beginning of the year, the Reserve Bank of Australia left its cash rate unchanged at 4.35%, citing persistent inflationary pressure and signs of slowing economic growth. The RBA stressed that inflation remains above its target range and that it is in no rush to begin easing policy. By contrast, the Bank of Canada has now kept its policy rate unchanged at 2.25% for a fifth consecutive meeting. Economic activity remains subdued, inflation has risen mainly due to higher energy prices, while core inflation has eased to 2.1%. The 210-basis-point interest rate differential formally supports the Australian dollar, although the RBA’s more restrictive policy cycle continues to weigh on domestic demand and limits further gains in AUD.

Technical Picture

On the four-hour chart, AUD/CAD continues to trade within a broad sideways range, bounded by green support near 0.9745 and red resistance around 0.9960. During the first half of June, a local bullish trend developed within the range; however, in the latter part of the month, the price broke below the trendline and fell beneath the lower boundary of the current market profile at 0.9838. The POC zone is concentrated between 0.9917 and 0.9920 and could act as resistance should the market reverse higher.

Given the close proximity of the POC zone, the upper boundary of the profile at 0.9942, and the resistance level itself, this cluster may attract increased selling interest. Current horizontal volume remains moderate, suggesting the absence of a clear market bias. RSI + MAs shows readings of 34, 33, 38. The RSI has already entered oversold territory, while the moving averages, although coloured red, remain broadly horizontal.

Key Takeaways

The pair continues to trade within its established range, lacking a catalyst for a decisive breakout. The RSI has moved out of oversold territory, while the moving averages, although still red, have lost their directional bias. Further price action will largely depend on how the market reassesses expectations for the RBA’s policy path amid signs of slowing growth in the Australian economy.

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Key Takeaways

• Zymeworks has entered into an agreement to purchase Theravance Biopharma in an all-cash transaction valued at $929 million at $17 per share
• Acquisition pricing represents a 3.6% decrease compared to Theravance’s previous closing price of $17.63
• Yupelri, Theravance’s sole commercialized product for COPD treatment approved by FDA, recorded $266.6 million in 2025 U.S. net revenue
• Premarket trading showed Theravance shares declining 2.8% while Zymeworks decreased 1.4%
• Transaction completion is anticipated during the latter half of 2026 and projected to boost Zymeworks’ earnings and cash generation

In a significant consolidation move, Zymeworks has reached a definitive agreement to purchase Theravance Biopharma through an all-cash transaction totaling $929 million, offering shareholders $17 per share — representing a 3.6% reduction from Theravance’s Friday closing value of $17.63.

Zymeworks Inc., ZYME

Investor sentiment reflected skepticism. During Monday’s premarket session, Theravance shares declined 2.8% to $17.14. Zymeworks experienced a 1.4% pullback.

The below-market pricing is atypical in merger and acquisition activity and clarifies the negative market reaction. Most buyout transactions include a premium above current trading levels.

Neverthstanding, the transaction does provide a 22% markup relative to Theravance’s March 3 valuation, immediately following the announcement of late-stage clinical trial disappointment for ampreloxetine — a therapy candidate targeting a rare medical condition.

The unsuccessful trial prompted Theravance to initiate a corporate reorganization, resulting in workforce reductions of approximately 50%. Subsequently, management commenced a strategic review process, including potential sale scenarios.

Monday’s announcement effectively concludes that strategic evaluation period.

Assets Acquired by Zymeworks

The centerpiece of this transaction is Yupelri, a nebulized once-daily medication for chronic obstructive pulmonary disease already available commercially. This represents Theravance’s only marketed pharmaceutical product.

Yupelri achieved $266.6 million in U.S. net revenue during 2025, reflecting 12% growth versus the prior year. First quarter 2026 U.S. net revenue reached $62.4 million, demonstrating 7% year-over-year expansion.

Theravance maintains a 35% net profit participation arrangement for Yupelri within the United States, where commercialization occurs through a partnership with Viatris. According to Zymeworks, these royalty streams and profit-sharing arrangements currently deliver approximately $60 million in annualized cash generation.

This acquisition represents a strategic pivot for Zymeworks — historically concentrated in oncology therapeutics — establishing presence in the respiratory disease sector alongside major pharmaceutical companies like GSK, AstraZeneca, and Boehringer Ingelheim.

Future of Ampreloxetine Program

The unsuccessful development candidate remains part of the transaction structure. Under deal terms, Theravance shareholders will obtain contingent value rights entitling them to 80% of net proceeds resulting from future licensing arrangements, asset sales, or alternative monetization transactions involving ampreloxetine during the next decade.

Zymeworks retains the remaining 20% interest and has indicated intentions to explore monetization opportunities for this asset.

Zymeworks management projects the acquisition will enhance earnings and cash flow generation following transaction completion, targeted for the second half of 2026.

Completion remains contingent upon regulatory clearance and approval from Theravance shareholders.

Yupelri’s first quarter 2026 U.S. net revenue performance of $62.4 million marked 7% advancement compared to the corresponding period in the previous year.