Here's Why Tetraphase Pharmaceuticals Rose as Much as 26.8% Today
Shares of clinical-stage biopharma Tetraphase Pharmaceuticals (NASDAQ: TTPH) soared nearly 27% today after the company announced positive top-line results for a phase 3 trial evaluating its lead product candidate, eravacycline, for treating complicated intra-abdominal infections. When administered twice daily intravenously, the novel antibiotic stacked up well against the commonly used drug meropenem, and had no adverse side effects. The trial evaluated 500 patients suffering from a broad spectrum of pathogens.
Tetraphase Pharmaceuticals says the results will allow it to proceed with regulatory submission in the European Union in the third quarter of 2017 and the United States in the first quarter of 2018. That means the company is closer than ever to meaningful product revenue. As of 12:37 p.m. EDT, the stock had settled to a 21.1% gain.
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Source: Fool.com