Is Tetraphase Pharmaceuticals A Buyout Candidate? Brean Capital Thinks So

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In a report published Friday, Brean Capital analyst Jonathan Aschoff said that that

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Tetraphase Pharmaceuticals Inc

(NASDAQ: TTPH) is a "prime takeout candidate" as the company continues to target NDA submission for eravacycline for both indications (cUTI and cIAI) by the end of 2015."MAA would be filed 3-6 months after that if Tetraphase has not found an ex-US partner, but we believe positive data from both trials would likely attract an ex-US partner for eravacycline," Aschoff wrote. "In December 2014 Tetraphase reported positive topline data from the Phase 3 IGNITE 1 trial for cIAI, with additional IGNITE 1 data to be presented at upcoming meetings in 2015."Aschoff added that the pivotal portion of IGNITE 2 for cUTI is now dosing pateints at the e IV 1.5mg/kg to oral 200mg dose of eravacycline, with top-line data readout in mid-2015. The analyst added that additional non-inferiority data from the lead-in portion of IGNITE 2 will be presented at ECCMID in April 2015.The analyst further stated that TP-6070, Tetraphase's second-generation candidate, was selected to be evaluated in IND-enabling toxicology studies given its preclinical potency against MDR Gram-negative pathogen.Shares remain Buy rated with a $50 price target.