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Tetraphase Pharmaceuticals Reports Third Quarter 2018 Financial Results and Provides Corporate Update
XERAVATM (eravacycline) Now Available to Hospitals in the United States
Conference Call Today at 4:30 p.m. Eastern Time
WATERTOWN, Mass., Nov. 8, 2018 Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant (MDR) infections, today reported financial results for the quarter ended September 30, 2018 and provided a corporate update.
During the third quarter of 2018, we reached our most significant milestones as a company to date the regulatory approvals of XERAVA for the treatment of complicated intra-abdominal infections (cIAI) in both the U.S. and Europe, followed by the commercial launch of XERAVA in the U.S. in October. We are thrilled to have accomplished these extraordinary achievements and to have made this important new antibiotic treatment available to patients in need. XERAVA is now available for use in hospitals and healthcare institutions for the treatment of a range of patients with empiric and confirmed cIAI infections. said CEO, Guy Macdonald.
Mr. Macdonald added, We are also pleased to have entered into a loan agreement for up to $75 million, the first $30 million tranche of which extends our cash runway into the second quarter of 2020 and provides us with additional flexibility to support a strong launch of XERAVA in the U.S. Beyond XERAVA, we look forward to milestones for our earlier-stage programs, including completion of our Phase 1 multiple ascending-dose study for oral TP-271, in development to target respiratory infections, and initiation of a bronchopulmonary disposition study for TP-6076, targeted against Acinetobacter baumannii and other MDR pathogens. As a commercial company with a focus on delivering XERAVA to patients in need, we are also continuing our pipeline efforts to develop additional antibiotic options to fight MDR infections.
Key Upcoming Milestones
Commence Phase 1 bronchopulmonary disposition study for TP-6076 1Q 2019
Complete Phase 1 multiple ascending-dose study for oral TP-271 2Q 2019
Begin phased launch of XERAVA in Europe 1H 2019
The following information was filed by Tetraphase Pharmaceuticals Inc (TTPH) on Thursday, November 8, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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