BioCentury
ARTICLE | Financial News

Tetraphase raises $150.5M in follow-on

March 12, 2015 1:42 AM UTC

Infectious disease company Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) raised $150.5 million through the sale of 4.3 million shares at $35 in a follow-on underwritten by BMO Capital Markets; Stifel; Guggenheim Securities; Nomura; and SunTrust Robinson Humphrey. Tetraphase proposed the offering after market on Monday, when its shares closed at $36; the stock rose $0.73 to $36.14 on Wednesday.

Tetraphase expects data in 2H15 from a Phase III trial of the broad-spectrum fluorocycline antibiotic eravacycline to treat complicated intra-abdominal infection (cIAI) and complicated urinary tract infection (cUTI). It hopes to submit an NDA to FDA by YE15 and an MAA to EMA in 2H16. The compound has Qualified Infectious Disease Program (QIDP) and Fast Track designations from FDA (see BioCentury Extra, Dec. 18, 2014). ...