NEW YORK, NY / ACCESSWIRE / September 12, 2018 / Pomerantz LLP is investigating claims on behalf of investors of Tetraphase Pharmaceuticals, Inc. ("Tetraphase" or the "Company") (TTPH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Tetraphase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 13, 2018, post-market, Tetraphase announced top-line results from its IGNITE3 Phase 3 clinical trial of eravacycline in complicated urinary tract infection ("cUTI"), disclosing that eravacycline did not achieve co-primary endpoints in the trial. On this news, Tetraphase's stock price fell $3.28 per share, or 60.41%, to close at $2.15 per share on February 14, 2018. Then, on March 6, 2017, Tetraphase reported its financial and operating results for the quarter and year ended December 31, 2017, and advised investors that given the results of the IGNITE3 study, the Company did not plan to further evaluate eravacycline in cUTI and had ceased its development of an oral formulation of eravacycline for the treatment of cUTI.
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SOURCE: Pomerantz LLP