Tetraphase fizzles on IGNITE2

Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) plummeted $35.27 (79%) to $9.51 in after-hours trading on Tuesday after its IV-to-oral eravacycline ( TP-434) missed both primary endpoints in a Phase III trial to treat complicated urinary tract infections (cUTI).

In the 908-patient IGNITE2 trial, eravacycline did not achieve a 10% non-inferiority margin compared to levofloxacin in improving responder outcomes or improving microbiological response in specified populations -- the primary endpoints for regulatory submissions to FDA and EMA, respectively. ...