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Tetraphase Pharmaceuticals Reports Fourth Quarter and Full-Year 2018 Financial Results and
Highlights Achievements and Key 2019 Milestones
Conference Call Today at 4:30 p.m. Eastern Time
WATERTOWN, Mass., March 14, 2019 Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel tetracyclines to treat serious and life-threatening conditions, today reported financial results for the fourth quarter and year ended December 31, 2018, provided an overview of recent achievements, and highlighted key milestones for 2019.
We capped off 2018 with a strong finish, with the regulatory approvals of XERAVA (eravacycline) 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 mid-October, said Guy Macdonald, President and Chief Executive Officer of Tetraphase. With the U.S. launch off to a solid start, XERAVA is now available for use in U.S. hospitals and healthcare institutions for the treatment of a range of patients with empiric and confirmed cIAI. We are encouraged by the progress we have made during our first few months of launch, with more than 400 formulary reviews already completed or scheduled to occur by mid-year and a re-ordering rate for XERAVA above 70 percent. Further, as we look to the balance of 2019, we have made the decision to delay launching XERAVA in the EU5 independently and will instead continue to focus our resources on building momentum and supporting a successful launch in the U.S.
Mr. Macdonald continued, With respect to our pipeline, we expect to complete our bronchopulmonary disposition study for TP-6076, targeted against Acinetobacter baumannii and other multidrug-resistant pathogens, later this year and look forward to presenting preclinical data on our new acute myeloid leukemia (AML) pipeline candidate, TP-2846, at the American Association for Cancer Research (AACR) Annual Meeting in Atlanta.
Key Milestones for 2019
Complete 400 formulary reviews for XERAVA by mid-year
Present preclinical data on TP-2846 at the AACR Annual Meeting 2Q 2019
Everest Medicines to begin Phase 3 clinical trial of eravacycline in cIAI in China 2Q 2019
Complete bronchopulmonary disposition study for TP-6076 2H 2019
The following information was filed by Tetraphase Pharmaceuticals Inc (TTPH) on Thursday, March 14, 2019 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.