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Tetraphase Pharmaceuticals Reports First Quarter 2019 Financial Results and
Highlights Recent Corporate Developments
-Company to Hold Conference Call Today at 4:30 PM ET-
WATERTOWN, Mass., May 8, 2019 Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a biopharmaceutical company focused on developing and commercializing novel tetracyclines to treat serious and life-threatening conditions including multidrug-resistant (MDR) infections, today reported financial results for the first quarter ended March 31, 2019, provided an overview of recent achievements, and highlighted key milestones for 2019.
During the first quarter, interest in XERAVATM (eravacycline) grew significantly among physicians in U.S. hospitals and healthcare institutions, said Guy Macdonald, President and Chief Executive Officer of Tetraphase. We are continuing to see hospital sales driving XERAVAs growth because of its broad spectrum of coverage against Gram-positive and Gram-negative bacteria, as well as anaerobes, making it particularly useful for first-line empiric treatment of complicated intra-abdominal infections (cIAI). We are especially pleased that XERAVA has been added to more than 200 formularies at top-prescribing hospitals, including some large integrated delivery networks, and we are on track to complete 400 formulary reviews by mid-year.
Mr. Macdonald continued, Beyond XERAVA, we presented data on TP-2846, our new candidate for treatment of acute myeloid leukemia (AML), at the American Association for Cancer Research (AACR) Annual Meeting last month. We are encouraged by TP-2846s novel mechanism of action, which we believe has the potential to treat AML regardless of mutation status. We look forward to providing a future update once toxicology studies are complete. Additionally, we are awaiting the results of our bronchopulmonary disposition study for TP-6076, targeted against Acinetobacter baumannii and other MDR pathogens, which we expect to be completed in the second half of this year.
Key Milestones for 2019
Complete 400 formulary reviews for XERAVA by mid-year
Complete bronchopulmonary disposition study for TP-6076 2H 2019
Announce next steps for TP-2846 and TP-271 2H 2019
First Quarter and Recent Highlights
Continued to Progress Launch of XERAVA in U.S. Hospitals With High Antibiotic Usage
The salesforce continues to focus on Tier 1 institutions, which are the highest users of antibiotics defined by days of therapy and is now also focusing their efforts on Tier 2 institutions. Together
The following information was filed by Tetraphase Pharmaceuticals Inc (TTPH) on Wednesday, May 8, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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