0000000000-18-018539.txt : 20181121
0000000000-18-018539.hdr.sgml : 20181121
20180615153431
ACCESSION NUMBER: 0000000000-18-018539
CONFORMED SUBMISSION TYPE: UPLOAD
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20180615
FILED FOR:
COMPANY DATA:
COMPANY CONFORMED NAME: Theravance Biopharma, Inc.
CENTRAL INDEX KEY: 0001583107
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
IRS NUMBER: 000000000
STATE OF INCORPORATION: E9
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: UPLOAD
BUSINESS ADDRESS:
STREET 1: UGLAND HOUSE, SOUTH CHURCH STREET
CITY: GEORGE TOWN, GRAND CAYMAN
STATE: E9
ZIP: KY1-1104
BUSINESS PHONE: 650-808-6000
MAIL ADDRESS:
STREET 1: UGLAND HOUSE, SOUTH CHURCH STREET
CITY: GEORGE TOWN, GRAND CAYMAN
STATE: E9
ZIP: KY1-1104
PUBLIC REFERENCE ACCESSION NUMBER: 0001047469-18-001160
LETTER
1
filename1.pdf
begin 644 filename1.pdf
M)5!$1BTQ+C4-)>+CS],-"CD@,"!O8FH-/#PO3&EN96%R:7IE9" Q+TP@,S,V
M,C(O3R Q,2]%(#(X,C7!E+UA2968O5ULQ(#(@,5T^/G-T('$UTT,3(P,,T!*&!B9_C/N_@\08 "/; ?@
M#0IE;F1S=')E86T-96YD;V)J#7-T87)T>')E9@T*, T*)25%3T8-"B @(" @
M(" @#0HQ.2 P(&]B:@T\/"]&:6QT97(O1FQA=&5$96-O9&4O22 X,R],96YG
M=&@@-S O4R T.#X^+'P,^ /P,C$#(PL!Q
MX+P \,!!T80A018H9B!80=0+1\#@WJ&:(S= JA4HPZ09@0B9H P!!B@=\
M#0IE;F1S=')E86T-96YD;V)J#3$P(# @;V)J#3P\+TUE=&%D871A(#,@,"!2
M+U!A9V5S(#<@,"!2+U1Y<&4O0V%T86QO9SX^#65N9&]B:@TQ,2 P(&]B:@T\
M/"]#;VYT96YT%LP(# @-C$R(#,C17,% PM% P-U&P
ML=%W2BQ.=%#(, @P 8!0VPPT*96YD)RE5]MRVS80?==7[.0IG9$8@G?US7%B-\GDXEJ=3A\A
M*;B9W CK5\?/S?V"*OE
M,HA=AV2'L>/#*I^]N6+ 2-!F]OJWU;^#38'G+.VFB4=>0O^[1Z2ZI\"/F-W!
M(L<;:/A8%0@LG(/GLJ0].(VX07W*FG/7A]:'RZ433%C_4SBG17H0)H'#!@+_
MQ (1KKGD8XKLD2@9\7.Y%;B!*U'P(A5V_B]=^2O.\F+#/Y0E<$YW*JJ
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M4JJ]59&JW,IS'A\_%#62=F$.>X2/UBI10(D%K"LC"C0&,GXPL#ZTI-3>VEH)]Q6:L4^\
MN/%(GQI*4)X]"&,))9J)*EJD[YTR1JPI3_9;4FBYWPLI.W#64W640*:@4"7Q
M*@627XG,H=*HK>ZO.T/X;D>;S2,9V,093]M02H5.J]SZ)46J[+N&D!)),:';
M;P_DU>9,@\/\Q%W>1%<\SUU^,FIP?7==;&PD-3ECF7^&:^B]8R37T<^S3%CV
M*9G:YV:J+]=F>./AZ1=FN+9;[6?6!.91Q.4S/XR5U)D=E2V)O;;H^ULF]\ Z$OC/-[;RT<6&[ E4[+"J$MA<=FEY-J4XE+[-73SG0FQ+49DH;Y7+2:%,["Y+J
M8=,%2 ^WLDI-C8%,X&L:1$K;,3(TJ19KK/>\RJS=&K,.U:OZM%3%W8*LSB=T
M4M8'C7V+2FB7!E+TEM86=E+U1Y<&4O6$]B:F5C="]7:61T
M:" Q-#(X/CYS=')E86T-"GB<[<&! ,,@?^K=X 15 0
M
M
M
M
M
M
M
M SP!1E;J9#0IE;F1S=')E86T-96YD;V)J#3$U(# @
M;V)J#3P\+T)I='-097)#;VUP;VYE;G0@."]#;VQO70A2(8E$X=OG3K181$1$1$1&1'TC*%,_/SX^/C_?W][\.W!W9
M3GIZ?7U54%#1$1$1$1$1"[F[>WMZ>GIX>%AO]\W L6O7[_N
M[^_CJ\=SB/*_?_]NJHK*D3)>7E[4,41$1$1$1$1DPL?'!\85OW__QJP"F6*_
MW\>6V'X3[P],.(*7EQ>$D3Q6_(U_TR3CAJ6Y^?G[4H%HD3_><['@9>7%[Q1L@'[_?[AX2&V7WY6(B(B(B(B(O*/@U<(
M+B'8/#P\/&RQ>8@"V&9D1(O\'#5\?'SV/?Q\9&O2*B:*D?4,)10&A$#XY OZ2 1$1$1$1$1^4-\?'RD>\BO7[_P
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M^#>J17J+D)P4"8(M[^_O*1=DFKI*&'!PHS3 R
M_N<:>5[1^&%D41$1$1$1$1'Y&\!T <.)H1M%JA#I&,)*O^8'R5B:*2^D_M!H
M%YDNA$H(G<&_V&_U1#+N.^"JKBAVQE\CC9KJ3VHQZZ+X2($\KG: !
MAHB(B(B(B,C? ^86L6:OH2T(9S$LC-M(RA>9A80"Z3:"6(%&01Z06LFN ]GA
M_OX^Y8M,<5(M/;".R,II=DH?6%GT44/SI%)[B;VV]X:(B(B(B(B(_!&P-&"-
MWYA;8$W1YP=9#NH$Z4<;&PRTCFHI@7#1&S_$<5]?7S^.3%J(L4<4)@TKBDH*
M&L3$B"-FAA'V:AQ2\HQ2%=E]]F%I0I*FKTJ3H$1$1$1$1$1$OA/\1/">Z 4$
MM(O=*-8EZ@&J0JH$NV."C]0NTB7DY/+_8X5)RU\.Q(?7U]=JN;%\-J[(2@C^
M24*3:A8""#A$V,@F<2+XJFSM4Q$1$1$1$1&Y$>E\L1;8(;4+-($F6D7-+4*2
MTS1FP/6CC_89>\6WSP>B?'4&.0FA.Y^>GF)?@GDVYQ*'H\+' ^R5CBIL087(
MKZHVLA90E-.)7AH&_!01$1$1$1&1+R)C5JR%Y5Q*3,NA?/'X^!A;JH9 (,W8
M$L6J]0+Y3^.K]-= ,TF)X^7(:X$ML2,JQ]V1; S[XGC"L7 MX=12H(@M:5-1
M:ZB!.JM*@W9!^-#\EN"?P\2L(B(B(B(B(G);,L''ED@.2 ?I?U'-#V)?\G&0
M#:39,;9$R31FX'!1V]/3TS7^%U$M@@9966OE3HIHE[(Y)44GD$555#81 FK$%
M2XGXB^=(%+AYP@XL.O)P-&:_WS\]/65[D%!^'4#9R&:GA$+LCLQ+PG8RKI)J
M)(^(14>0*46V^SYD3(S]?I\1+=(&(^I)4X=8\I.N=&@%
M\0TTAA;1VMB2@LGS\W.T)TX_G5;X*OHD=L$_A1U)94)XC3Y>J/*%B(B(B(B(
MR!<1:VV"5Z0A 5+&? T>*W1V@7MC!,A:&=J%T\'".5!(I6W UD)^4K,G2HB(B(B(B)R0S(/2%I;^F,3/S!P?N?Q?
MCBE%_G[S@VAP-)LXG(V"P<;,E)K:!?(%ZD2J%K$%CYCL0ZTO1$1$1$1$1&Y"
M+,R;&!<9S"'_C75Z+,GC[W!WEO 9 !-/$Y;MUV0,^4[B+-(&(^U&V-@$YT2I
M('HG_Z;924"VULRT@GQ!6(P_=6HB(B(B(B(B_SI]<$Y6W-@/U$7]T'\D"M>8
M&$2JK&XC_Q893;3&Z^ KNH58G1F5-,ZTFE70F;$QMV">L3%IBXB(B(B(B(@T
MH$O$RKIN?'M[R^RE^$U4ZL*\0L0,1(]_>IT>IX\'#>E%ZO;T :"0:DK&F
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M*ME#\/K(4>PE(.&H49$3N_'9K/U4,T!=:.'M42&VH+
MV:1:VYPF1G1S%GWAF ,,PW&?A)A7&12KVFI29VT&;SHN:'_NG@6&K=U>?UJ<
M+L>7"UOV:AQLV3=.<]]YUQ*F.VZ&-1E'1$1$-H)+2$ZQB.00X^_;@=B>U@(X
M@^P/\S'<*-+> 'D)_F)K$&\S1JS(D.2YH0M76;26H/9"\7H(O*NFG9$1.0[
M27&^7WL"2@)E^N=S79FN/< 958<^E7GT&A.[QDV:T]39>W0.R9$:/HZ9T.<'
MBK,[ZTU$S16>0UZS95^T%U)W;6S_4+O( D,CQNWU1ZMJ_1E_>T[F7\N+6'NU
M/_W=86Z .>OV7A41$9&$=7=.X7 #842.<3]?#,4$)C;&S"1G2M4Q)+[]7XW(
M"#6[@W$%IQP]4Y.2?!Q]:O:?+2YJ]RZ'5U2[8J$A(B)?32YIK]%]N/W-[/+JI!8R\C#.O/,9IFU/J;_LG6,EZO]6J]
M@DO1D:)A<3BNU+"K^[WRI'I?GOIO:A=T_L9>G;1D.;JB##46$1$1.J17JM8B/Z?Q,N$F8X-?G(ZX%J.DNGT=4Q7V+:'%U*#PZ\[D+M(N&->UBK;:U2Q
MB'Z9DY:3RL"YVD6TO._5M:/4N5.&MR*J%2XD/SX:F(B(R!>140?/U$@--\?4.RU'Y6AHZDYXB(R%=S*^TBBB'@
MYW"9:_SOURYV)3ADLO9F88MVL72N$W-.QO_$_G"R?M^H7>2!<@*SW?CD7.UB
MV*MK2DY--#9DOY*81D1$1":DMTB^/B C6"U3IV1,P-C"Q /'U?^YQ46ED2^8
M&S-+B<\GIRMZCHB(? \WU"Z6SV-EC@+_0^UB*1E"[[HG*M=Q(?MO0K1M^06":B,C7D682:V-9S;^Y4;M8.OGBG]8NJO8^\?)HB'G%1!/(
M,YI(1B>UBZQDWY&=/^F*+]4N8I1OID\53"N'=XZ(B(@,08A(D\7X-T9P3"ZK
MD0 )4G.7*,] 3UCU.JF(>IX/.!8#D]Z<$D>WQ.1GN]2#^F'03A&1+R)S/^V.
M3@$?1WABUV_[W=>TBV5D??$'?48:3X?:VJI=,'PGT3FQI4;=G"_S$Y0' G*2
M5#U[-3ZGK+ND,PT:;27[0OM1K6VQ.KUW4Z)$]+,S/&H8PV,B9P+!+YRDV,L)&WV]+
MB19X\??AX8$7-[']IUI%1B?@.Y.F*?%OXS=-ZI:[
M8TK9ANBH?GI3DXS\/O!-YR,B\K^$L2]&JX=(#PWY:#=I'?KBD
MM4S?;_6L)XZ9]1)/((=(?U+XR-#G]$"ZD,Q/7T1$1!+>%J6)8WV%\3QZ%<+[
M"ZQ5GP\Q'-8B>K&*9V;":(YAY]I[JW^:5'50+99C#_1FO73"_?U],[>IKM:[
M@V$M\9L5LI8/_(&89(4
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M!AAYQ'^"ZM^1<;@$'BX[&,8=((_^0VB,B(B(B(B)R&;SKSZ08
ML?2.%3%F%7T4BYKM8K_?1\DMA\"UA$4]03-JDG=6_9DT+;;_S?)%G#N.'D09
MC78BX!#U(AH?W?)R(!.LG*R0DEP"!**HA$2H5+4_T@3PO#_PU_:5B(B(B(B(
MR$V(%7':!L3RN68_B%+487RW%Y'DM[Y(NHF33KA+G MR(SJ.)G
M$=O_POPC^+FD_TMT%\(";<:PA @A%*N>.!,PO#:00V#]%@C"XR< ?GE1$PXG30&;9K.TW"D>5P+=( AM"F^54<
M@@NQ'+QX\K.(B(B(B(C(SX,0"OEO76N_O[\_/3WE\AQ0$EAH7W XPDOB*E)#
M7J!:X&H1!\VXG7^#?$'84LPJL'D@!@5F%6D:@7R!JI#1,+8?!3DH:N,2X+R#
M$M(((/$O+>%?K$'^0O\:$1$1$1$1D>LAP\A<&8B5(BVBV$1$1$1$1$?FIX,21,25B%8SE0TW'2080["7P:$!\.)D^8PT,
M#&(-'O5@M( R@%A!AM9JS) ?MB_/R57Z6KC,+"$M+HC&>7]__W X0)7CHP0
M$O^20F5[F(N&# FR'.TN,+K@7&JW-(I3[&*V$1$1$1$1$?F1L.;E,Z_O:PP*
MML>*^->!6$>C ."P-2$OBBVBIDR(AT)R&D9\H76P23:"?6&M75Y3++
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MP%*E\1_)8Z'V&/)"1$1$1$1$?A)8"/ Y'490#_CJ[0BQ.I?#HI[8#M<R.
M@3AP;\D/:95QL880.W*XFFUD=\QCTNLS]0H:\D)$1$1$1$1^&+E 7HY!*1MB
M$4W(B%C%HU>@'EP6B#+!C"$JQ#DEW480); TJ"8?:?6!3<+N[%+27:&?4CWQ4+TT30>MQ%*7FG\@&/.[I@I-5.283DIP[]4&'V%T'&EW<7R.5-J>M9 FL>DC4I*);3$F8S\
M0>+WDG%E@8Q"<9=.[+5X%+QL!GUU2S.0%M,RBA_IVF\DFE&/,A$AFY)]]J+8
M?+R6?)M"O0-..NB!,BJ:U>$ O6*T*0;1NEINGV+
MC-R^_5?6
M7,V3.<+Z2SDOW_\$)H>HC9G<)/4<^YZ9/W_Z4]YR<5^NF&]D.^L<8\L3.R$'
M?5,#3]KY]6+'YGI->F;+;=GWWJ0-_>^H+]S<(9,[BM-A9EC[@9[<,BOKA\Z-
M3\C:,R>/-1P9\>">'Z7OVTGYIDDGSUU$9 OD(>4S7A*,6?FPS>=2/.@H>:N%
M>5:5?A:L1+"I(!DH1@Y5TV"IPK)][K4=7PK"<]V?R()KN\''+*4RQNUXG M:5G$)3Z6Z@>90L7
M^ZARH>?/D+4K6%L[J8'HXFL3$M37YG"3V4OS.QT6[GMO_@QOHJ_WMV(J$\G/#CR4KR"JS(-I;(0SQ3B$^?"^R[U2+Q.C%6/Q
M]^\KJ;?$_#5$
M]N=^0W+S9K#>LJC?KEP1%9QB:TN\2<_T%V7X&.SEE#F7:1=#K7CM"NY&,Z[)
M[[JI8?*#:K2FR1NEY?,],VS2L/>V:Q=K;\3R(;G6U?U%G_P6>HO?X4BQ=B&&
MG5D%V[6Y\?8[$GC[=2!\^'/\ODF
MV@71-K"?3-.R-#8@U4A5,YC3YK/WI+GFKINW8*F+BL[\=A*X@T$MVH-5=GJ+
M[(YO(E))0*_ QI*SN#ND<[VR?]!/&$PG;]D0\_-D.7$M].3[J1-+7M]@'L\/
MO'G=,YSSU$5$9@Y:8[@@:A:A=X=D1AA7T!)B^6:!X?+SB[2+^Q'-[[I_(IW4
M+IJ.:MZ+]9UVC7;15]A 8YJG7WT!QU7CQN"*-&^HKW=Y:VP&MBQX^W>U^T-^
M\&'A[=H%M]_39YJ0RVN_A9/46^N"'POC[_#2URL^/,=&^F"@?#FZP_ KJZWYLU;)_K,+[S-A-4_<'=QOL)V\2+3-G05PCAHS]T1&U7QUP!8>B
MC6/[SJ!D>Y2NTBRBP5DFSWFF.
M.-_G)>]0:X,9=Z3J9>&5OIK
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M384+B%_*VF/DB[2+27OJ#+^9FDZTBR%S[6)^Z)MH%WU[&0.=$.CBQHK
MZ>0"<"W"P-#ZXB;:Q?)9OICWS)"SM(LACI78C(3>!95S_O#E-3XF1B94U0(.88F)8-[;0O
MAL<@T4'K<,, P;L)WM+NCF\'>,A/!@CVNCO$V.PA*@4%D,$GNV OK&&;
M9SB:!FK,35PV_# K=>.5(5[6+O!EZMB_D\TZC82=C
M%"1Y07\=PH#7J]]($!/MHG$L+C9SVJY4+YTE3W,Z^2/%IC0O
M1&-@EG<=T[;)H6OOU8C-O<]4'K?> %=J%]47HQ_[AI>R>4+B?G7N$W)R13.[!7_&S,S"$4D3@$7'K=)\
M]'E:L%^RL&UEYD6=,'RC/?%AGZQ#SZ)J%Y-X
M'?6I,K^(>2FSG\(]8+&56B>8]6":Z)=U BQ5_K5UM4W;XOZB\M/YLK*
M+S;JF-B)]'IS&?,5YMY@D5
MGDA,M"[PS(WA9CA*\I D@ .KDBJ8-ZLAG";X/!RU>:[V!^K?8S([Q4N%DQI.
MU:J91XZP!+M(W0.?$0PSZ-(+^F<-YE0,'WVNDU26<@O#+JXW5[[!%#F7)D;B
M&BB'PQJVY!E9TRZVOV0_R5=H%VBDY$ZJ-+/6N8OQ']V9CGI'+M(OM'@H3ZA-RRWE5
M@[KF0E3M(EUQ=^6W4Y?V&"1LURY01'O3BSPH,Z4KM8ME'/FL
MKODLMI./.QY?47E]D9%I1E-DSE4YFD!F**CY/H9## N!M-/[.'@7,I#%H7FB
M\I8P3Y]E/B)Y\W2M0QZO.?(Y3#MI9 ;J3"7AY%.:N?&6KDO3CN4XY7@^Q*^&
M)G%#CO5(0&H7\OW,,]17AJNJ'ZQ=G.2NRP#25_*/:A=+"<5YLA\N7D]5>3DW
MSNW5:_.:D:67+_*][<_3+IK5^B0&PE^K7>1M7".';/PM]!>TSR;)I.5B[8+;
MB0E53[.>_3]K%U6#XNY-^9'?;UU9;[&[6,J]P2$:<:,6N%B[2)O;DU=M[3E_
MY1/RAMI%9EVD6-3
M')%I<,Y >!(2J!QSB.=#VI%\#B,LY%.1KW*2V5L5(LOS;&>X82C$3X20I!P=
MH8,AC&=O?4JG1\GN: %"21Q&,OL;EAO$7T)IV9W2+FA/M=R;3![H.J;B] \O
M)H8VV-D;:A?R!_DX1.EI;5&Z)I#=4Q=>L+VZH753!
M[5QGS),^(\/ @#T?GR-VYID."]]DY0OUH$.WB+R[3CK^I$+5+"V;V YKIA?#
M"]I+=M')S1N-M9[I>V^8_B8+-R>UT6?DLI]);;]2F5?5F6VM\
M,E'AAMK%,C*Y9"J^=M%%1"ZC:A=UL*C6MOO/J<-9XV]\"C%>/!]2;[":3HN%
M.ECSA">TT?,A]7D&N& [(==X_M.V=-G8'9.//)?@%>EIF(]-9B]WA5\E)%?]
M3/T956-W?-N2_;,_)D+-2!2T.?[E'$_&<*;:= ,ALM-:^4:[:)2!FC1-[2^R"W7:Q=U
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M^)B,8E6[6([N-G6"--Q7[4+^%"WB)">OYLG.G'"6;\[P'"?>B+U\<;)[-VH7=4VW
MT?:^CWZ:#;?2+C9Z6,#P/IP8TDP&VNZID"O72R?[['=9YWA,NVB
MMWNIC[+KM8LMCL!S(ZMSGY#-MW.SP]J?\V=XU>MZH6.B72SK :_4+D3D5K ,
M7XYYY=;L#YDYI./AN=I%.F7D>I^!K#[GF2\1C#;NRN95=/\8]*?C=T%1B9I6)@I
M67'&J>.^VH5\/WCLSI\/=7K33W[.U2Z:F[Q9:$P"/^)[Q6^PGW/61DXLJ4XN
MXN;:15/#VNO+?TZ[6%M=SN/DUZ.I=K&LRQ?7:!=-
MG1>(0N=J%WU+AE>VWOS#GV%=/++CVM%YWNT"/Y'YSW!B9(6T,D_"-9?]Y]I%(]VLW9E-DIV^GKEVL1PG
M\\TO1>U"1&Y%U2YVZU$:F#GP$+M NV#@PYF"IR+/V%Z[P'^3(:"Q/?MU\(S(
M/"-,4)?# SD:P[#R:SW)VG9VQV3?-*_:=>^.%B!I+X%M!J?&V4U6"OWLETKF
M[H>-=I$]V=N=[LKB2.U"_@C\/'\=PLOT1ESQ:ZIFI<,G2=4NG@^A;R:@<#8U
M-"_LT!51_'CUB1#:3.2:2IK0A42\J3\H'CN-3M)WR$GMXN-S=KSA_/^OTBZB
M)?.+PE5N&LFJ 97UJ)E!=27[<,W8YN-S2(=^U3G7+I85^6*+=E$=A?(F
MQ!^S/KJOM#+"NWP"[P76SFC_.7WD2?^=Y@4K;SH[]2'<3[6)M
MH;I69N@E<3* R3 -Q/!P?<\T3\*/8SB@7^MN%(UC#AZU\XM[012RQI>JOX+-
M7=IT?B,OY!2.UO)ZI;&'65OM#ONA>GG47\?%VD5=OS?/_"NUB[Q%&?OZ=,]-
M9/5^+*A/R!RP:LOK$W+XJO%DN*?GSPE!\HIS"U5+X$E7G-0NEI'UA=J%B-R*
MZC."HP3C3G6RR\ .#/[:,VKV[!3RW.;NWHR0"T1@"*-7)WJ_/OB>3%Z_T:FH=]:"-96E#KUW,V\\
MH78AWT]O7%W=N)H?RYJAU[F_Y>&/KE$5LB70;&>NV$_2&@UD5[(2]_6LV5V?
MU"Z6SSK)R>GB']=[K[]S=N=XT#>[VW2AOYEE>,'!NH-=E19!9NX(L=>?W
M2:VDW[+676O:15[W/O+D9=K%4B94S8EL5[&Y6;/"&WA*IN0E),
M0*/N:]BB72S=PT'M0D1N1?5QR.<>BVOXU?G6G9MG!"$W0U_>'7)A4#EZ15:%
M[0=&=TC!C5$!^S8F;?F0WXVFB!? V?6&'W='^XKT3V$+60]0?H:2#F,H[R!R
M1*/:M"&9:$%T>&H7?:L:4KOHYW@B7\KP1=N0_<%]8%C)3;2+N/.;]_A#XF<[
M\6+ 37O+3&^_[B;S<2J8)S2^)\WD^6_3+DYRUVD7P]1(PQTG;CY#:N>35C)Y-GV=+YK=0L]B?N-D.A9T>G%SZI\?W:!?+X:=]\B[J
M34>:IO9:<5_#R:!>NY']"6'->ON]/-S0TVJB7?#5)$;TF@747+OH;?G6&/[>
M,<3J(['W<,,,?TU5NY@XH)W\S=X=[&FQW9J%R)R.YKX#&MA=NI<
M^ESM@DDOJ49VQZDILC-/MGQ7PM0"?XU\@/,495C!RN+N8+E!F29"16Q\7 >_
M5QQ2J*'ZPS*UON_RQ.V/(>6QN+@[9C^AG74(Z >+.JFN:5#Z0TRF;9P[VA$5
M8D_8[\*D6NU"_BR8Q&GB5SP=DQAO)&YEQ8K"(+2_#K&Z>47',36UKK\\2HC%G^>&DMVG>
MENO2'Q1#/OS^]MV-@97=!0$G,P3TR9,E/M+P76:1LZC#3 )&5ZXYK$SN86:ELQM)KG;:]ZTW?'E!3.0QB]@TMHM%_PY8&_'.U_^HN;W_;/3,QQ^^N8U-[K[XH:&2P;
M/[\5\:XZ>=WI2>:*^\^/N"V=F=YD%SPAS_HM]+_9;.3)D;'^!.9'J9=I/]*+
M1$0N +6\;F$ZD4^S_=%*,)^W3\=T)!L/P<"48S+0TPYB':T"YRSCF?G.=7:A?RQTG7?GR?)Q/UNLO[.>#HO:7.= PG
M^, %YU(KV5Y/=[_:C--0?2__MR=,\V2WUFIXLW+=_^X5;NVK#LYATUP57
M?_X[7=N%!R#SF2]Z$A+>_&1C-C:5BWC],:-M+.AT5D9N Y4.__>.83GI?^'Y%;I*,%&/ TW:A>H'S6]:8:)J&DR&O$V$W+MCGXB
M&'YG#;MCG$P^I""0%A?5^J*:80P_UP]WQ\RGG&^CF7 L@DC76!S5%@ZCP: 1
M+NY*B$XL /,$>=.Q9H*X/X8J78Y95FN=:2Z2MG^87N!H<^%M(2(B(B(B(O+7
M@!$%GS-7H7BHB(B(B(R,\ ;0'% .V"^%%8( R
M!>MT1 9>]&]QV,3E@?5^HS;@A0$X.S31FZM&@0L)X:1V1V>-W='K9%<2'5(Y
MR4QW1ZN&7->GEE(+YX=?APBBM9'I&X)^@I92XXXVP9-KI/I>6,"@I4;LS&)K
M\4,RGC:NK 0^Y>PX]PP)E>>(O\]VVQ@1$1$1$1&1OQF6QNF/0(3,FC.+D&NX
MD\2_K--9N9_4+G)QC9A G&2\&W9'CPR.GDXB=;E--&.B1A#D*L-=ID1 G,ST
M%LD4482#F&@79.O@5$C6(A,2G(1XI,O1M61[+A@1$1$1$1&1OQ;TBG0N8$6?>9IVQ>4AE_G+
MT2+B9!QC%OB9?:FZ3E23 RPZXKA8:+!O*@_I-)%&!>@52 >I(2"2I/)P4KN(
M\\K/0^T"G8&,43B)Q%>8ZF5-C7) *9*XPY%GS;S:5:X$M"AU2C3?H^7F2;A$1$1$1$9%_!5)L\#FS
M@52PFDAWC^48,3*- 2;$PI^5-4+$,'LI$3BK[02N&43)2.N.3'JR.R9:11CY
M^/C 06.B7:3)1_49F=A=H$+$CK2!-*FT:BV(1#2#(^8Y5IFB9Z-#!VXRZ!)$
MX S2?R2/51/!+ ?SC#Y[BXB(B(B(B,@_"@8/K'.KB0+A(T@R$K VS]RIJ6.<
MA""R.V4!.=ATA-WB!B8,[1RQ%5NX@/O7:!L\::=H'X0+(5 G)ND1J:G*?#DX6-V4NS8?EOIG?!
M.F5W# E"@?03:5Q(1$1$1$1$1/YI8BV\*W$=4YU@C9P"0MI.4("@D2=-$4A^
M6GU&UA;U&1H4T0"O!Q0)P :CJ9P$)1/M CGB NV"2!K;PUWBT#'1+O+!>
M<5*[R%B=:X8?V-+A2F&5!4B\XQD;7%<0H7LCE(2+3%!
MJHB(B(B(B/PD<+[@,ZMCM((,?Y&F L@(+.=9F\]KQAZ@IDE=2Q6:X.] / UL
M-HC)V=2,*D+;TIZAC]6)-($(<);=16W/W/KBXT"C*C1DP-+MAAP9BA,5 DV)
ME"ND:T%7X=K5D@08,5"GB(B(B(B(_"18[?*9)7/&Y&RT"Q;@U9WDY&(<3X>4
M+#)E25W7\V\:4:!+9)G>A"!SD:2\T,?JK-I%GV\//!M
M04Q8$RY0/S!6.>NB[$HX"QK&63\:0)M))A$-7H2!UC#A0OP8GR\GN
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MF>DTX]))S-!A/N(^-Y8@IREG.*B(B(B(B(
MR#\!02%RS1OK>M;CL3:?+(0W9AMI=DG?DUSF(U-4$0/Q@9*9!C3V[<-*9#*.
M&@'CI'81!QUJ%]2 (4^I.Y),UV(6(B(B(B(C\/(B3L-'7( JGGP@V"1M?]*.09'!+/MP?P!(CU0 6
M[QGDD\7[KB-SL/;;,T!$#6&1G_&+X7.*&*D)[(YI4FM6E)K=%2>7QH!D=XS=
MP3E>G.FC)D#)?ML=K$'JX=+<)6UF\"6I.55%1$1$1$1$?A+W]_=;+"AB95W3
M?;+PWQ(-=_TLP :P0L*!X?'S$5H)ZH,.-F]($]
M697'^CUJ( S%6L#/U! :?:/*(+W*D5) [H*?R"3G:14KZK]H"!QB8PR0GB9*
M)P%1^1QU8GJ!1TQV174M:8)RB(B(B(B(B/PD4"&:V)@]F$_4]_LH#_,=B581
MI'$%KB*Q;U;8"!>( [%4CW5ZM9W(-?O=,8UI$,6H/VT5L'](FPUV'$H?N=Z/
MW:,]%&LB7; %$Q%B:]2F$@[<0TZ,T +RJ@=C3L/_4EK.1891BX^
MKHB(B(B(B,@_P3N.'#./)JCF#26Z!F)98;A#[ G,.C J&EA64847_
M^OJ*XT8L[==:F_8AN\\.( UW7?+3!)>6 -V #"E1N.8G3:K#2S3ULF 71!W9
M%1^<>BP4DK5]Z3<=1D3D>\"=+9E_VSRHK]EWK3%$4>:A'8_*>%:O[5CKOZ#,
M?/]WX=S?-X#"/SD6O]]&=)'@,92@@F!*S9L5Z(EF3"#C*$;HPC"M6E(DF#
MBF;C%JD!9: Q^>A!S[EXGI8!2[D$&2&D:7#.9SX.L"]13R\[KHC(N<0S&?LT
M;-N:YU[Z"?(0:X85XB;Q4(V'?R\.U/Q3=]GZPF;S;1K-^C$JP
M;.R/1?.&@V,]XK 3*),6CV<-W^<2IU#[O(&0X%M$@"'1\AJFN[\0!+^Z_BRB
M>/,ROSVB)T].8.*4Z]4?*A*QL>\W?LXJ&"(BW!A"0+X&];@Z)?'!!,1$2D 4.(.GCQAB5&GQPH,XPDKA\4
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M3!L]7$;EM_TCO3>EF*2/Z._4+G:CM?^:=H&CS?R,HJJA4%#_
MS87M9&6=@\[:BKXN0OL7![VE1S,&_1'M8BAS51%@8RJNVCEKTAD7XB:GQOW0
M#^)IP- 8\%1+F_X^J7=1\WJ(^][:4V[2 UA+3Q%-43)C?G+PAP"NY3G WU,F&$+LT]2U^JUB]JV224W>>DC
M(B*R'*=5C.\(]69VO
M=T>C"R)=Q%=1<_S+@9AHY=R2(7AH<9%<>;XYS:"?F=BG-0LN+;4Q2PF%P93,
M5Q@B\D?(56'5 6K8X5RM5'.^?N6>\+CC49^KK;6H"XV1 ^Z-B-7QJ!RN!Y?/
M*@'6=ST3<_TMV@6C3PUB4.L9:A?Y,GVBJ&SDI'8QO&I#JO]FW=Y,!G)@3?7@
MK](NEF*B!4Z_N!+@6KWTMR$)\\E)SS#NZYF@:^_G6&$3\A?(O.K:EBU
M9E/4^[%64<@7+B(BKZ
M;@T>['6O6NU)+K:[X%UV(U_0DJ%VP9-_MQ+:=)C1HY!T[#$3Y#1#;JBI"37B3O'O7WIND:5-S?3/BQ.X8\JNQ
M*1T:;<$1$1&X%;U)J#HLU2#>-;IX
M]D-6=7&0S/KRJS&H[GV0R>O73'XUVL93G=JWM7.T"Q\:&87:/+$]5WZ-=+)]C
M+#!,JUU< #=SDW.D#^AZL7:Q'&=WN.5FA,\TGND/EZ%$J^W31+M82E?7WU?S
MD_R&NT)$1/X_-#E$8O#"+&$88+,?1MERVS18C(;H#,U7;(P"-( 7%FE]P22J
M#QQ!1GCF"=A@8+:1R>XQQMB= F>3R\BI';-6)W4U7SNW[JFK,'K6JAY$R9C"DLPH?>?WOCQ5ON!:
M_U7:Q?8HD6<%Q[@51.AJ\H@-8X%NB54RB=;"M_W&H;93?Y*-J6W5+H:F&HUI
M$^]9\N=LO L1$;DM3'ZV3#FP0JQS&-[I])8#UU"#5_?;20Q'W.]TN_TS82D:3#Q1NA;)K=&NA"1OXJZTF=M4E=
M^2([K2.&1A2-=5S/,.K%9 64U@6[+JGH-\3J;%(\-"_3A\-']D CB9,F.Z',
M-=I%$X[R9)2#7B0?QB%I1LR48OZX=K%1JX':.6O!,+/:FX@;36X=5(M)S37?
MQ_#^7XLU.FEPE2FR5:D_(+A5\D+S8JNI#4&#<* !_E.]Z_%YW20B(K(.8_W&
M\86W0A@_4!ZSX1C=;C@\,3]I1DG$"@9')B<48"[-P$W#TBQF)F
MW?&!?3-":74>Z;GL!.O$F"W90@Q%^F@;""SYMH+)@V\N1.2/4Y,V]BO$CR[M
M:?^^.&O@X=RP9M!.S6O+L;6@B]^O72R=? &3'*ED<^@;1O2G?EE:.3='ZM"B
M,IT%AO4,M8NEDR]VZYEPH_Y;30_FVL5'2<%[2<9^LEAO?[$BSA3IGQWQPQ]>:!FXIWSWF;(WLC0#A-KZE2!>&'1S!SRY5?F5;FN1T5$
M;D/UL.L7=#5STVX47CB7V\.%57[;V-U1[=TAZ55\KC$MJ]5Z,PS]$>UB&*8.ZX70Z$)$1+X"5/=A-'C(,3='50;'##,^M)2X>0L9#7$;(;TIK6)&@6](
M,TG#%1=;1R9:L13J%C[([^F!GH+*TL^(PR@'S!G&K26A0,S)@;?6,+
M.>)/YLQ ',XO<@$;>-A2JB,@U\$1E0334+O+;9D&=KZHGMF3Q&$31O3O$
M5LKG8;YK[O.,L&AJPAWG7KQM[YU0$C1P#M=[&>0RMG^,8U&PI>;AV HDE*PJ
M1YY1OLX>[@C9GUM&7H)4]\>J3J ->37[O&-]/T3)B?O,]2&;D+#NUF$D'0ZX
MJ;&LF4GDA>C7XW%KK65LWYT3Y2-O[#E#F2A#BV^_QFG2L.8T
M,4WI?Y+SAHF(B-R$G!7D\,1*'T6BL1>M%@4Y/*5IQ-=97V065X;(&!R)MYEV
M(\Q[$1S0,9C^88!!4*R:^70RF^*- Y_/]6E=#I$W:&1.:Z.2WKD[Q9;=,24*
MR0>7HP?W#3UQ1$2N!QDAZ=?[]=O^*PSC)SD?:^:19KG$8QFO"N1HTDZM+?!K
M;9/0A5FFJ0=5?+@[EG(T48-J$_HRU/?BH?7HB-QVK<,QMJ!ZX5
MXW)09KC&QT_A>KN+[/,AF0ET;?IFA"8=P6C"%1
M).X.WIJ\#$II E$%9V'L&1A,,:*([?&9=RMX=WY%4/3Z.N;ELS=*\\)K2,HI
MC90D(B+RS\%([7I61$1$;DLL[=,"-NTHUC*C#>,PY%Y?FM,S918D" QZTQ.$
MV-D-B I=-A(LT%N5$#-$I(B+_+N0%6W.9
M$1$1$;F8QG.$M3:KZ3XN^N0U"O+%E_H[9*(0CH51+AO1+K /B380_1*M8^Z>
M?"4O)>CZFD7TH#NHN4&Z!81D7\7(F-O]ZH0$1$1.8M<\N?"
MF82>-6SU6C[Z)*TO;I49;7@($IEE+*D:#1N["Y2*=&_!]_.+O##2(F6+-I*!
M.X:3.DY';Q$1$?EWV1BU0T1$1.1B6(:GPT*3E6RCT4)FM1M&:+\MA+R(PQ'.
M(M;^!+W$-X1X%U_:@)I_;>/)IO\($3RRA5AEF%M$1$1$1$1$9$Y=0=<$WV>I
M$.EF\@V+\7RYDR$QFQ"C7T0-87%!\,\4/=@1WQ;#7(B(B(B(B(B<)%;]1(=
MK" V9J;O/(MTIH@U_O=$&B>3VC<%%E$R#@5A]]P)%?)6+_6\SP/@BJKE%?!BJ#>G]
M@5?(R8RQ6+DH7(B(B(B(B(B<"QX?)^4+_!WV^WTLTB<1&W+53YE_3L' %B4C
ME\8IK'5+;$]](\-9K)5$N/@9%BDB(B(B(B(BW\_3TU.LK$^&OLQLI/%A(DI4
M;XM8W<>"_9\([X#=2)[C?K^?A]1HM(O[^_LU^8+>Z+U.1$1$1$1$1&0[L;*>
MA*/,:'>,LHF3T /I,=-KK@:;KL+CXGERN(B(B(B(B(O\'YM87I/LD4\;S
M@6$EE*FN(D@$J7O\_OT[OOU3H3"B52@/59")SS6"!V4R7D96J&D
MQ<4\=8N(B(B(B(B(G$NLM==B7[R_OP^-$!H00 AT6;>_O;U5(P?,,'I;A:\#
MR86PF:E:1#->7EZJD$*9. N2QD:!NP9GT1
M_VZ)VU"=1/IO<<2(]7ZU>8AC/3\_O[V]W7:E'[6]O[^_O+P\/#S4(]*VV-@X
ML*!:4"!;$EO.,A$AJT@OW8B(B(B(B(C(#2'SR/W]_;F>':^OKS7U1FZL<226
MHU,&5@TUW$3\BX[Q\O(2!89Q,M?X.!#'BGWC< \/#[7RE"RB_BC3-":VT)@L
MF/C(\JG H"11BS\V<**
MOM'W[]_W!Q[6B6]_'^AS?Z2*$H?H)8AH3-I:Q-\HD,U(_2'.
M:&.6D/?W=QQ23KK5B(B(B(B(B,A-($O()*5(0ZSQ23#*\C_V2N$BW4/B6PPD
M^MUQ\8B%__Y ;S6Q!8PW8G=B5KP?Z \4#6MB7Z3@$,W.C3B;Q-^3YQY[T6:%
M"Q$1$1$1$9'OA'0;) \]69ABF9XCEO-5N'AX>'A_?R?8!=84"N! I033?8KU YHXH60TM,GP$
MZD3CG4&@"4)JI%!0[1\NYOW]G1@:-2LK;BSQ+:87J52DZ45C6_+Z^IK[#L-U
MQE$P2AG&\1 1$1$1$1&1;^;M[0W]H;$Q>'Y^1GG <(+%?BSG\S.*1]ICU!UW
MQXP>:?R0!5)2P#PCHU@0R()\(DE:5B!!I%<((2]J@E2">-00%E& '7O?D+2^
MZ!6;:#9^(MNSD(B(B(B(B(C(5Q-+^URSU^7\V]L;1@X86F" D8I!-;JHR4-C
MKW3'J-81'*A:8L2Q8L=J/I$A*8@.FH7C P$_JQU%;B9)516DB=O;!*XCXD=$M-+<0$1$1$1$1^2? < +9H2H8K/01"M NT")B
MR[">Q\?'_7Z?BD<4B_+L'C57)2 S].W 56?N6!F>!J+EF#ZF6'DT[7UY>
M4#:BA4:W$!$1$1$1$?GG(/[#FH*!=H'F4#6!U]?73+H:N\?GJAZD1E&#:G(L
MC"OB[]#X(#!QQ,V(Z/!O("7\4NJ5<@% P#4RPE;$4-^YDT DCS
M;1PE=H^C5Z\6?$^B<&US)BN)O\_/SZH6(B(B(B(B(C\ HFZF#0;I.=(Z(CZS
M'1'C]^_?41C;#'2&U"NPUAB&K8CM&=2BCYY!0(P:U*+*$8@D')=&HIG40\17
MCX^/M%!;"Q$1$1$1$9$?22SV7U]?R?2!PI!F&"@#F%@@.Z291-I:Q(?E&.VS
M%Q]BR_/S'AX&";L(&SFT]-3*AZ_
M?OVBAA0K\/*HGB,O+R]1H-:/:PFY2^+0??"-V(C;2%J&:&@A(B(B(B(B\C^'
M:!CH$M6RXO'Q$?&A-WB(+4@_
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ML=C2?)6%URI7F)SWV!26->7U_9-S[T;9@T+ZL]W36'2J)M
M'*AO8:VM9UA>1$1$1$1$1,XBEMC[_?Y7Q^_?OV/-7I?>KZ^O?!7;ZX[W]_>U
M6'Q^>'B([?$M^D"49\>HH1XW=KPK4-7S\W.J"K'VKT=,HDQ4WNS[]/14FQ&5
ML&\V(XF2'.MDSW B]2C1+?4LLK8UU"Y$1$1$1$1$KB06U[&ZW^UVL2I_?'Q\
M.!"?8ZD>&^-SED0-B.UO;V]L>7Y^CC*QL8H#46'L'MOC6[9$>1;^U1*#,O?W
M]R\'HG SD"!:R_E6+87:8N/#"+4+$1$1$1$1D2M)[:*NQ_'(0$G([;&-\E&F6COTVD5\0'^H,L5R,.UX?'RL6YIBM"IH+#&B "U)P:1J%XU\
M@>0RURZ0*>)O(\N@G-1S0;OX_?OWI#81$1$1$1$1N9BA=@&/CX]UC=]K%\M1
M!X@:4AEHC"Z6=>TBC3V>GIZ&\2Z63KN(QJS)#J@*Z<""=A'[TIXJ7YS4+J)8
M;P&RUEVI7321+M8J%Q$1$1$1$9&SF&@7K/%C5)+UV
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MYD@EK6GI[H[DDC0'#&V1\FZ[\/#P]"3I1ZT
MG@6ZQ\G.B>.BC62?-+8BRT'BH+9A< P1$1$1$1$1N9Z/CI/%)M^>NV,6F!_T
MW!TGW\[K7*MJ?A2%"Q$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1
M$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1
M$1$1$1$1$1$1$1$1^1F\O;V]'(G/'Q\?\V*OKZ_O[^]]@?<1?6VQ95ARK7GQ
M56W>QN/.*QRV+2I?JZIVRZ3^[4UM#IU]LM;Y\S.EA9.JUHZ[MGWY?)ENZQ$1$1$1$3D_T8L"1\>'G[]^G57^/W[=VRLJ\7X?']_7XO%Y\?'
MQ[K\C)4I537L]_O8M]86Z];8."P6J]K:O*@_CM(<-XI%#;78\_/SL,(XD:9"
MB(W[ _7;:#_GN$8>E-.,AM4Z8_=A4YM%=Y2AJ4W#HMCO _-%^K"'(8Z%7$#W
M!E7-8,?8V'1=E(GM<=S^6%G/L \YV?@V.K^ID)YOI FN4;W-..[3TU.J'-0Y
M/SL1$1$1$1'Y7\&Z=;?;L82,)6K\C44B2\M<>\8:-HO%"I1BL0Z-+?&W+E%C
M@-^F-C'"N+1>4<-U?*L5:-C508J]K8'D>/76)+%*MK\-C.
MQJ9"-O9+[ZAM=R!.I-G.OG0"IYQ;4@K@-*MVT3>5GNR;FH>NVL)R4&E8I ^-
M'!+J;'H8HF96]W1O4Q4[61Y6@;4"MD)=LLC3%O:+:SRFY6Y5EA+-N;]F =T2@J[-*V"HZ=\<99VT?1PT_BY=M&T6&_&JG-8C*_J&GFH7<2J
MY=N[5@[["H7:1[:GJ2A#-HY&H$XW+0QYBNW;!:CVV-&OS9:3;
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M%\N9VL5D>8X"4WN@:A?+027@7#*RQ,7Q+NI!Y]K%A8B(B(B(B/P/(24H[\KKFC2VDT:$C;58769F
MCI*ZCN[C7>2;]"I-#.-=]*!(_"K)29>#_I#MR=W[>!>Q"^OH>FHLV#-U"+#6
M;E[NGQNK$TN&OJE44JU6&NUB*:O^H8K2<"OM8BG6%XUVD8%0:B]QK?OPI+7?
MTOJBT2[R]-K%4G287Y]SI-;@'ES'
MO(6J=)8Y4N\[". Y.6L1$1$1$1'YJ<1ZD(P;N :P;(PMO0]%7RP6I$VBD-@8
MWS:+^EC>-D$7,R3"EM5H' 7)@N-&&_KFQ1:^:BQ#6(;'[IPF9?J$L#2FYNM$
MU:D"3CU-K#4:W69C4[%A:+HHNZXF&QTR[.&&[-ZLBOK[TT&BX;B<.Q>KL9-9
MBO-+:E!T0I]39NU$L++(O*O8=32W$'4..9D01T1$1$1$1'XVA!W8DH]R7FSX
M;59>E]+#Y)Y;CCO1Q)R(1L[8:VI).,X:Z^-A\[&OQVH5:WMV!RW
MN5*USN:K>85K%S?KF5_'GKFD(R(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B
M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B-^<_YA"2G T*96YD)S%5<%NXS80O>LKYE2X@,-*E$A)
MQ^RV23382791H$X,>,AY\V;>#,E=
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M"":YZP:#PD,W*,/W\Y5UOS,@!=W2+Y8(H"KUO6K>-2-B(@T1<5>FC+"=E#]P,
M1[[CGMV6I9'6PD#JJ$Z.=Z./WJYMM)@-;5+$SFE,,4&^4HHY4%6>EO+I@7D.JA"6E?G4H) 1M."
M7OGL=+/6#NY0!;H;45VBQ+LP\Y0:.85+WL)1V'_SE.5SP<_:M4:*UF5!GKZI
MU?_?^O34\# EY^?F:?3YU$!1:8LES^$HL1?8DK)K9]=7'"D4JN[N&B>T:BW4
M.!=KV75(& >Q6R?ELI+=@"+D[.0P?"GRK@4H\-Z(PL<2I=SMG8$=19 R4"KK
MDMECR+F;I:-J-[9%7]_G$W(=E#S.74J.'[U$X>KJPLBK%7FCNV,U\L-8=)/1/!LM>WEZXT'5\*A1E*4TZ[<"Q3S-1\NN
M(^=*QWQ0&CNTVTO;G;&O%I;2:\*^<(VB%Q).DG).29[V:;T_D9A'#IG%+S+Y
M41V4[09MA8^OV6I_D^##UKCGY66B?2B>D^C\8O]MM5)^'G^6HFHWA3M%W^&S
MA(,_"O9?W0?_ ##?DD4-"F5N9'-T7!E+UA-3"]4>7!E+TUE=&%D871A/CYS=')E86T-
M"CP_>'!A8VME="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZDY4
M8WIK8SED(C\^"CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B
M('@Z>&UP=&L](D%D;V)E(%A-4"!#;W)E(#4N-BUC,#$U(#@T+C$U.3@Q,"P@
M,C Q-B\P.2\Q,"TP,CHT,3HS," @(" @(" @(CX*(" @/')D9CI21$8@>&UL
M;G,Z&UL;G,Z9&,](FAT=' Z+R]P=7)L+F]R9R]D8R]E;&5M
M96YT&UL;G,Z
M>&UP34T](FAT=' Z+R]N&%P+S$N,"]M;2\B/@H@(" @
M(" @(" \9&,Z9F]R;6%T/F%P<&QI8V%T:6]N+W!D9CPO9&,Z9F]R;6%T/@H@
M(" @(" @(" \9&,Z8W)E871O"UD969A=6QT(CY#;VUM96YT
M($QE='1E&UP.DUE=&%D
M871A1&%T93X*(" @(" @(" @/'!D9CI0&UP;65T83X*(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @( H\/WAP86-K970@
M96YD/2)W(C\^#0IE;F1S=')E86T-96YD;V)J#30@,"!O8FH-/#PO1FEL=&5R
M+T9L871E1&5C;V1E+T9I7!E+T]B:E-T
M;3X^D9EF'7=VPO&,[GH78>ZP
MI=Z.14O(BYT"N86--%)I+<$'[0%XOVHE#[9;(Q-I4']4.=O-%W2\K_%%'V8"
M'1CV5@#@+R1BLHY.-
TEXT-EXTRACT
2
filename2.txt
June 15, 2018
Renee Gala
Chief Financial Officer
Theravance Biopharma, Inc.
PO Box 309
Ugland House, South Church Street
George Town, Grand Cayman, Cayman Islands, KY1-1104
Re: Theravance Biopharma, Inc.
Form 10-K for the year ended December 31, 2017
Filed February 28, 2018
Form 10-Q for the Quarterly Period Ended March 31, 2018
Filed May 9, 2018
File No. 001-36033
Dear Ms. Gala:
We have limited our review of your filing to the financial statements
and related
disclosures and have the following comment. In our comment, we may ask you to
provide us
with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the
requested
information or advise us as soon as possible when you will respond. If you do
not believe our
comment applies to your facts and circumstances, please tell us why in your
response.
After reviewing your response to this comment, we may have additional
comments.
Form 10-Q for the Quarterly Period Ended March 31, 2018
Notes To Consolidated Financial Statements
3. Collaborative Arrangements
Janssen Biotech , page 12
1. Please provide us an analysis with reference to authoritative literature
supporting your
accounting treatment as revenue within your condensed consolidated
statements of
operations and as a contract liabilities described as "deferred revenue"
and long-term
deferred revenue" within your condensed consolidated balance sheets. If
you are
following ASC 606, explain why you believe you are within its scope.
Alternatively,
Renee Gala
Theravance Biopharma, Inc.
June 15, 2018
Page 2
explain your basis for analogizing to ASC 606 or other accounting you
have followed.
Address in your analysis how your assertion on page 9 that you do not
consider
performing research and development services to be a part of your
ongoing and central
operations was considered in your accounting treatment.
In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.
You may contact Abe Friedman at 202-551-8298 or Jim Rosenberg at
202-551-3679 with
any questions.
FirstName LastNameRenee Gala
Comapany NameTheravance Biopharma, Inc.
Division of
Corporation Finance
June 15, 2018 Page 2 Office of
Healthcare & Insurance
FirstName LastName