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Tetraphase Pharmaceuticals, Inc. (TTPH)
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$PRTK is valued at $200mil based on anticipated 2020 annual sales of $83mil. When buying a house or stock, one likes to look at comparatives before valuing that specific asset they want to purchase.
Well here's a very simple and unmistakable comparison for you... a recent transaction WITHIN the antibiotics space was the acquisition of $TTPH by $LJPC. $LJPC will pay in total $59mil of compensation for $TTPH ($43mil upfront and $16mil in future). $TTPH only has one drug (XERAVA, an injection only, one indication drug) with anticipated 2020 annual sales of $7-10mil. Using simple math, PRTK should currently be valued at least 10x the value of this acquisition based on sales figures, thus valuing the company at $590mil.
Thats by me using irrefutable mathematics comparing one asset to another. Throw in some soft characteristics comparisons like PRTK has 2 approved FDA drugs, one of which is owned by them, the other licensed off. The one owned and marketed by PRTK, omadacyline (Seysera) is approved for 2 indications, soon to be once daily oral or intravenous for both indcations. Not to mention the contract with the US government and the potential for many more purchases throughout the years moving forward.
It is abundantly clear to me, this asset is significantly undervalued. Time for the investor base to wake up and smell the roses.
When do the TTPH stick holder to get money from this sale deal
$PTI World Health Organization chief says virus outbreak is "accelerating" CBSNews 10 hrs ago "PTI-129 as Potential Treatment Candidate for COVID-19" Many TREATMENTS are needed in the COVID-19 battle! If PTI gets a break through..., well you pick a price target... BOSTON, June 1, 2020 "The ongoing COVID-19 pandemic is a public health crisis that demands the investigation of all possible avenues of resolution," said Meenu Chhabra, President and CEO of Proteostasis. "We are exploring ways to further our understanding of PTI-129's potential in fighting COVID-19, and are seeking support from governmental agencies to accelerate this program." "The urgent need to develop effective treatments against COVID-19 is a global priority, and Calibr is committed to studying a broad spectrum of compounds and pathways, such as the UPR modulator, PTI-129, in the fight against this disease," said Arnab Chatterjee, PhD, Vice President of Medicinal Chemistry at Calibr.
$TTPH ACRX moving AH, ARMY just started ordering DSUVIA... you all should have VOTED yes on the ACRX/TTPH Merger... now you have 0$ upside... Crazy you voted yes on the
posted on S.T. tend to agree myself silly TTPH accepted that offer, no upside......... SAD
GOOD news AcelRx is NOT countering the former BANKRUPT Melinta $TTPH offer, and:
AcelRx will be paid a break-up fee of approximately $1.8 million.
Vince Angotti, Chief Executive Officer at AcelRx said, "AcelRx is financially disciplined, and while we continue to recognize the merits of an AcelRx and Tetraphase combination, we do not believe that any further increases to our offer would be in the best interests of our stockholders. As a result, we have decided not to further increase our offer and will focus on other exciting opportunities to expand and diversify our product portfolio and create a platform for growth with other potential collaboration partners."
Why the big drop on a large up day in the markets? There are three companies who what to acquire TTPH. What am I missing?
It was reported that the market expected the Tetraphase Pharmaceuticals (TTPH) to be delivering an increase on their earnings and revenues for the quarter that ended on March 2020. Meanwhile, this company claims to engage in research and development of medicinal products and services. Check out how they grow in this industry:
Psilocybin Mushroom with A growing push Toward Legalization. The Next Great Investing Boom is already underway…
8k filed by TTPH today:
"Accordingly, in accordance with the AcelRx Merger Agreement, the Tetraphase Board determined to consider the La Jolla Proposal, to enter into discussions and/or negotiations with respect to the La Jolla Proposal and, subject to La Jolla entering into an acceptable confidentiality agreement, to furnish non-public information to La Jolla. There can be no assurances that any definitive agreement or transaction will result from the La Jolla Proposal or Tetraphase’s discussions with La Jolla."
So TTPH will be considering La Jolla's offer, as it has been officially determined to be a better offer!
The way I envision it, La Jolla's offer translates to minimally a $2.89 per share, ALL CASH offer! That takes into account all possible penalties/fees of $1.01 M related to canceling the AcelRX merger.
And the current price is $2.08?
Hmmm, seems like a no-brainer to me!
I have a large position in TTPH that i took last year around 6 dollars. Obviously not happy about the price decline but I am holding my position because this will turn around.
First and foremost, the FDA has accepted their NDA, which means that the FDA will decide on the basis of the application whether it will approve the drug. The PDUFA date is August 28, I anticipate the stock will be flat for next few months then start to rise in the summer ahead of PDUFA.
Second, the FDA will approve eravacycline. The antibiotic has met the standard for approval, which is two positive trials against standard of care. Meropenem and ertapenem are extremely potent antibiotics for cIAI, and eravacycline was shown to be equal to both of them.
Third, the market cap is extremely low, making the risk reward quite favorable. The current market cap is less than the net cash position of the company. Once eravacycline is approved the stock should climb to over 8 dollars.
Fourth, the failure in the cUTI trial is not as negative as the street made it seem. There was a key difference in the cUTI trial as compared with cIAI, in cUTI they dosed eravacycline once a day rather than twice a day as they did in cIAI. In the cIAI trials ervacycline was given 1 mg/kg every 12 hours, while in cUTI the dose 1.5 mg/kg once a day. This likely explains the failure of IV therapy in cUTI.
Fourth, eravacycline is a true breakthrough antibiotic. It is the only antibiotic in development that is active against CRE, acinetobacter, MRSA, diff, and ESBL producing GNR's. Paratek's new tetracycline is actually a weak sister, it has positive trial results in skin infection and community acquired pneumonia, both of which are easily treated with current generic cheap antibiotics (vancomycin and rocephin or levaquin or zithromax). It does not have eravacyline's activity against the MDRO's that are the real challenge in medicine. As such eravacycline should sell reasonably well. Tygacil does 300 million in annual sales, eravacycline should do nearly as well, which would support a market cap of 2-3 billion dollars. Eravacycline probably works just fine in UTI if given at 1 mg/kg every 12 hours which appears to be the effective dose.
Fifth, doctors do not prescribe antibiotics based on the FDA label. We use antibiotics based on spectrum of activity and likely organism. As such eravacycline will be used in any infection where it makes sense to use, not just cIAI. I doubt you could find 1 doctor in a hundred who could tell what the FDA labeled indication is for most commonly used antibiotics.
$TRVN perhaps one day, read below Re: ACRX's FDA approved DSUVIA. ACRX / $TTPH merger soon the next PFE! ACRX's DSUVIA 12 month recap:
May 11, 2020
Christian Tvetenstrand - Chairman of Surgery & Director of Trauma, Wilson Medical Center
"I'm an advanced laparoscopic surgeon, minimally invasive surgery. A lot of our procedures are same-day operations, so we do a lot of laparoscopic cholecystectomies, laparoscopic hernias. These are the most common procedures in the United States.
But other areas I was able to use it in patients with significant comorbidities, patients that I thought might have to go to the ICU after the surgery for ventilatory care with severe COPD, emphysema, if you will, and I was stunned, absolutely stunned, with the cases that I did with these types of patients, that they woke up so cleanly, comfortably, without any respiratory depression. I was able to keep that patient out of the ICU and she had a comfortable experience in the hospital and went home much quicker than I would have anticipated otherwise"
My first night using DSUVIA in the emergency department of a hospital was an eye opener for me. I distinctly remember the first two patients. One was a 93 year old gentleman who had broken his hip and had been dosed with DSUVIA. After I went back to check on him, he was comfortable, he was awake, reading the newspaper and doing the crossword puzzle. That is not something you see every day."
March 16, 2020
Koth Cassavaugh - Director of Pharmacy, Auburn Community Hospital
"We originally were interested in trialing DSUVIA in our bariatric surgery population. This is a difficult population, as they are all obese, often morbidly obese, and these patients frequently have severe sleep apnea and a high sensitivity to the respiratory depression effects of opioids."
We were interested in DSUVIA, sufentanil as a high therapeutic indexed opioid, meaning the window between efficacy and the side effects is wide, wider than the IV opioids typically used in the hospital.
The sublingual route of delivery also interested us as this would blunt the normally high peak plasma concentrations of IV delivery which caused issues with our bariatric patients as I just mentioned."
Nov. 6, 2019
Charles Lee - Chief of Plastic Surgery and Director of Reconstructive Microsurgery
St. Mary's Medical Center, SF
"I was first intrigued by DSUVIA due to its rapid onset of action within 15 minutes, without requiring an IV. I don't start IVs in my awake surgery patients and a sublingual opioid approach seemed tailor-made to my practice. Over the years, I have found that many of my patients are interested in having surgeries performed under conscious sedation, instead of general anesthesia, and I have performed a wide variety of surgical procedures safely in this manner."
"I actually had one patient dosed with DSUVIA describe abdominal liposuction is feeling like a deep-tissue massage, which I can guarantee you I have never heard before. Another patient for whom I did a liposuction procedure for a male gynecomastia, which is a condition where men have excess of breast-like tissue on their chest, did not even flinch when I performed power-assisted liposuction on his chest and removed over 300 CCs on fat on each side."
"In my past experience, liposuction of the chest was very painful, even with significant tumescent anesthesia over the chest area"
Aug. 5, 2019
Jacob Hutchins - Anesthesiologist and Associate Professor, Department of Anesthesiology.
"We are utilizing DSUVIA in a variety of ways to provide post-surgical care for our patients that require opioid analgesic."
"we like to dose DSUVIA as the PK profile of the sublingual rope extends the plasma halftime of a drug such that patients usually don't need to be redosed. This frees up the nurse from frequent dosing and provides good pain relief that allows discharging the patient in the appropriate time period."
"Our nurses have found it easy to use; they like that they don't have to spend time drawing up the medication and they'd been impressed with the timely onset of analgesia."
"And so we've used this in patients over the age 65 and several patients in their 70 above that age period. And it worked quite well. It's allowed us to have a quick onset of action, but a long duration of action we haven't seen the adverse events in that specific patient population."
$TTPH $ACRX "AcelRx preliminary cash, cash equivalents and short-term investments are expected to be $52.7 million as of March 31, 2020. " ACRX could write a check (match La Jolla) for TTPH if they so choose to day so... but the merger gives TTPH shareholder 16% ownership of ACRX currently worth $19 million dollars, and much upside going forward... The LaJolla offer CAPS any upside value to TTPH shareholders...
ACRX / $TTPH the next PFE, w/ FDA & EU approved drugs!
In Midst of Coronavirus Outbreak, WHO Decries Lack of Antibiotics
TTPH’s FDA & EU approved (FDA approved about 3 months earlier than DSUVIA, Q4 Revenue up 45% over Q3 Revenue):
Q1 2019 Tetraphase Pharmaceuticals Inc Earnings Call
WATERTOWN Jun 17, 2019
"I'd like to acknowledge the recent increased public recognition around the growing threat of antibiotic resistance and the urgent need for new therapies to address multidrug-resistant infections. Despite this growing threat and awareness the number of new treatments in development remains alarmingly small relative to other therapeutic areas. The challenges facing drug developers in this field are clear, and appropriate incentives to remove barriers to development and stimulate innovation in the antibiotic space are needed to improve the treatment paradigm to ensure patients receive the best care for these life-threatening infections."
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"AcelRx thinks this drug can eventually generate more than $1 billion in annual sales."
"So while AcelRx's stock might not take off right away, it should turn out to be a stellar long-term biotech play."
Tedros Adhanom Ghebreyesus, MD, the director-general of WHO, said that “never has the threat of antimicrobial resistance been more immediate and the need for solutions more urgent."
Tedros Adhanom Ghebreyesus, MD, the director-general of WHO, said that “never has the threat of antimicrobial resistance been more immediate and the need for solutions more urgent."
"Upon the closing of the transaction, Tetraphase will become a privately held company and shares of Tetraphase’s common stock will no longer be listed on any public market. Subject to certain limited exceptions, the CVRs will be non-transferable"
Question, what does this exactly mean to current TTPH longs ?
I had a cost basis of 1.69 accumulated from this past week. Awesome! Congrats longs!
Anyone know what caused 20% drop today?
The volume is significant as 290K is about 10% of outstanding shares.
what does a new investor need to worry about with TTPH? On paper, it looks really good. I'm studying this one today
The Math of this latest offering if anyone is interested
Funny how the stock is down in dramatic fashion just prior to an “at the market” offering. Gee, I wonder if anyone was trading on insider knowledge? But then I’m sure the SEC would be on top of something like that. Wouldn’t they? What a cesspool Wall Street is, that is of course being monitored by a cesspool of an inefective government agency. That said lets look at the math of this offering for a better understanding.
So it appears they have sold 300,000 shares (which also include warrants to buy, at the exercise price of $3.755 per share, an additional 300,000 shares) along with pre-funded warrants to purchase 1,830,493 shares ( which also includes warrants to purchase, at the exercise price of $3.755 per share, an additional 1,830,493 shares) all at a price of $3.755 per unit. Basically that works out to a total of 2,130,493 shares purchased up front for $8 million (minus fees). That also leaves the door open to buy an additional 2,130,493 shares, by exercising warrants, in the future for the same amount of money. So what does that mean?
They had a total of 2.7 million shares outstanding prior to this offering, so add the 300,000 shares and 1,830,493 shares from the pre-funded warrants to that total and they now have (2,700,000 + 300,000 + 1,830,493) which is 4,830,493 shares outstanding. Plus they added about $7 million in cash (figuring about $1 million in total fees for this offering. So by my calculations they should have at about $18 million in cash plus zero in debt prior to today’s offering. With the newly added $7 million from the offering they would now have around $25 million in cash, no debt, and with the added shares of the offering a new total market cap of around $18 million dollars calculated at a share price of $3.75. Just to put that into perspective a market cap of $18 million prior to today’s offering would have been around $6.60 a share before this current offering 2.1 million share increase. So someone was very likely working to get the share price down prior to this deal. Just chalk it up to management looking out for shareholder value I guess, just like they always have.
Take this all a step further and calculate the unlikely scenario that recipients of the offering go all in and exercise all warrants at the advertised exercise price and the total outstanding share count goes to 6,960,986 giving a market cap of $26,103,750 and a cash on hand balance of $32,000,000. Obviously they will continuing to be burning cash so it’s hard to predict actual cash balance until all warrants are fully exercised.
So the conclusion is that this offering is not great, but also not horrible (based on yesterday’s closing price). Probably horrible based on the share price from just a few weeks ago though. They still have quite a bit more cash than their market cap value and still have an approved drug that is currently being marketed and a pipeline of future drug candidates. The “bad” news, as I see it, is that the same management team is still in place and they have a long proven track record of being horrific for shareholder value. They really never understood the concept of how to spend investor’s money in way that created a penny of value for their investors. And I’m not yet convinced they really care to learn now.
Same as it ever was
Don't bet against AcelRx's largest investor to-date, the U.S. Department of Defense, April is soon here:
Coronavirus medical supply WAKE-UP call in all medical setting, Department of Defense... my opinion, the DOD goes big on their DSUVIA orders:
"fulfill an unmet need for our injured soldiers,"
"We are excited to have a confirmed date for the Milestone C meeting and expect DSUVIA® will soon be made available more broadly for military use," said Vince Angotti, Chief Executive Officer of AcelRx Pharmaceuticals.
"The Department of Defense has been a great partner supporting the development of DSUVIA since 2011, and this is the final stage in the process that enables us to provide DSUVIA to fulfill an unmet need for our injured soldiers," continued Angotti.
department of defense video - Bing video
I think I read this right. Our CFO just bought 190,000 shares at 6.07.
Antibiotics are a blueprint for investment disaster
Achaogen was a harbinger of things to come for investors in the Antibiotic space. Companies with Phase 3 successes and even large cash reserves are simply a target for short selling into oblivion that only ends in Wall Street buyouts for pennies on the dollar.
“SOUTH SAN FRANCISCO, Calif., June 06, 2019 (GLOBE NEWSWIRE) -- Achaogen, Inc., a biopharmaceutical company developing and commercializing innovative antibacterial agents to address multi-drug resistant (MDR) gram-negative infections, announced today it has reached agreements to sell substantially all of its assets for aggregate cash consideration of approximately $16 million, plus potential royalties and assumption of certain contractual liabilities, subject to negotiation and execution of binding definitive documents and approval of the U.S. Bankruptcy Court for the District of Delaware (the Court):
• Cipla USA Inc. has agreed to purchase Achaogen’s worldwide rights, excluding Greater China, to ZEMDRI® (plazomicin) and certain related Achaogen assets and liabilities;
• QiLu Antibiotics Pharmaceutical Co., Ltd. has agreed to purchase an exclusive royalty-free perpetual license to Achaogen’s rights in Greater China to plazomicin; and
• Heritage Global Partners, Inc. has agreed to purchase Achaogen’s lab equipment.
Achaogen reached agreements with these purchasers, all of which remain subject to execution of binding definitive documents, following the conclusion of a structured auction held on June 3, 2019, at which these purchasers submitted the highest and best bids for these Achaogen assets. Achaogen currently expects binding definitive documents to be signed and announced on or around June 14, 2019, to be approved by the Court on or around June 19, 2019, and the transactions to be completed as soon as possible thereafter.”
In my opinion these companies grossly overpay their executives and obliterate their investors prior to cutting sweetheart deals to file for bankruptcy and sell off assets for pennies to some preordained entities. Achaogen also had a Phase 3 success, growing revenues, pimped up pipeline, and they also had billionaire investors and all the trumpeted optimism in the world practically up till the moment of filing for bankruptcy while still holding $70 million in cash. Absolutly despicable what is taking place in the antibiotic market at this time but it’s the way Wall Street is playing this at this time. In the meanwhile other companies are sucking up successful Phase 3 drugs, that investors paid hundreds of million to develop, for pennies on the dollar. At the end of the day everyone makes millions except the investors who funded the whole operation who get, zero, zilch, nada. Who cares what this company does, or pretends they are doing, when the end result is a complete loss of investment value. Anyone who believes for one second that a reverse split of additional dilutive financing will help this company deserves to loose it all. This is not investing. This is perpetuating the worst Wall Street has to offer. This company and Achaogen are excellent examples of why people believe the markets are so corrupt. Ideas that look priceless that are actually worthless.
Same as it ever was
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