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Tetraphase Pharmaceuticals Reports Fourth-Quarter and Full-Year 2015 Financial Results and
Provides Corporate Update
Company to host conference call at 4:30 p.m. ET today
WATERTOWN, Mass., February 23, 2016 Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a clinical stage biopharmaceutical company developing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today reported financial results for the fourth quarter and year ended December 31, 2015 and provided a review of corporate milestones for 2016.
We are focused on continuing to advance the development of eravacycline as we remain confident in its potential to become an important option for patients with serious infections, said Guy Macdonald, Tetraphases President and Chief Executive Officer. We continue to have discussions with the FDA regarding the next steps for IV eravacycline and look forward to providing an update after we have received regulatory guidance, which we still anticipate in the first quarter of 2016.
In parallel, we are planning to initiate an additional phase 3 clinical trial for once-daily IV eravacycline in complicated urinary tract infections (cUTI) in the third quarter of 2016, the design for which is currently being finalized. We are also continuing the clinical development of an oral dose formulation for eravacycline, Mr. Macdonald added. Beyond the eravacycline program, we are advancing our pipeline of novel antibiotic candidates. We will continue our phase 1 clinical program for TP-271 which is being developed to combat respiratory disease caused by bacterial biothreats and antibiotic-resistant public health pathogens. We also plan to initiate a phase 1 clinical trial evaluating TP-6076, our second-generation antibiotic candidate with potent activity against multidrug-resistant Gram-negative pathogens, during the second quarter of 2016. We look forward to keeping you updated on our progress throughout the year.
Key Milestones for 2016
|||Provide regulatory update on eravacycline program 1Q 2016|
|||Initiate IV-only phase 3 clinical trial for eravacycline in cUTI - 3Q 2016|
|||Initiate new clinical studies to advance the oral eravacycline development program - 2Q 2016|
|||Advance TP-271 phase 1 clinical program - 2016|
|||Initiate phase 1 clinical trial for TP-6076 - 2Q 2016|
|||Present scientific data from antibiotic candidates at scientific meetings - 2016|
Fourth-Quarter and Full-Year 2015 Financial Results
As of December 31, 2015, Tetraphase had cash and cash equivalents of $205.9 million and 36.6 million shares outstanding. The company expects that its cash and cash equivalents, as well as expected revenue from its U.S. government awards, will be sufficient to fund operations into at least early 2018.
The following information was filed by Tetraphase Pharmaceuticals Inc (TTPH) on Tuesday, February 23, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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