WATERTOWN, Mass.--(BUSINESS WIRE)--Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) today announced the pricing of its initial public offering of 10,714,286 shares of common stock at a price to the public of $7.00 per share, less underwriting discounts and commissions. Tetraphase’s common stock is expected to begin trading on the NASDAQ Global Market under the symbol “TTPH” on March 20, 2013.
Tetraphase has granted the underwriters a 30-day option to purchase up to 1,607,143 additional shares of common stock at the same price to cover over allotments, if any.
Barclays and BMO Capital Markets are acting as joint book-running managers. Stifel, JMP Securities and Needham & Company are acting as co-managers for the offering. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission (SEC). The offering is being made only by means of a prospectus. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847, or by emailing email@example.com, or by calling BMO Capital Markets at (800) 414-3627, or by emailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Tetraphase Pharmaceuticals, Inc.
Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multi-drug resistant infections. Tetraphase’s lead product candidate, eravacycline, is a fully synthetic tetracycline derivative being developed as a broad-spectrum intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multi-drug resistant infections, including multi-drug resistant Gram-negative infections.