Puts Purchased on Theravance, Inc.

Shares of Theravance, Inc. THRX are higher on the session by 0.84%, currently trading at $21.70. The stock has been moving largely lower over the past three months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. Though action has been primarily in small lots, overall put volume is now running at 13.15x the daily average with 98% of all puts traded being purchases on the offer. Theravance, Inc. is a biopharmaceutical company with a pipeline of internally discovered product candidates. As of December 31, 2009, the company is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas, including respiratory disease, bacterial infections and gastrointestinal motility dysfunction.