Robbins Geller Rudman & Dowd LLP Announces a Securities Case Has Been Filed on Behalf of Purchasers of Tetraphase Pharmaceuticals, Inc. Securities

Robbins Geller Rudman & Dowd LLP announces that a securities class action case was filed on behalf of purchasers of Tetraphase Pharmaceuticals, Inc. TTPH securities between March 8, 2017 and February 13, 2018 (the "Class Period"), including investors that acquired securities pursuant and/or traceable to the Company's July 27, 2017 secondary public offering. This action was filed in the U.S. District Court for the Southern District of New York and is captioned Garity v. Tetraphase Pharmaceuticals, Inc., No. 1:18-cv-6797, and is assigned to Judge Engelmayer.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Tetraphase securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff or have questions concerning your rights, please contact Mary Blasy of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at djr@rgrdlaw.com. Lead plaintiff motions must be filed with the court no later than 60 days from July 27, 2018.

The complaint charges Tetraphase, certain of its officers and directors, and underwriters of its July 27, 2017 secondary public offering ("SPO") with violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934 by issuing materially false and misleading statements and/or failing to disclose adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose that Tetraphase was increasing the patient enrollment in its IGNITE3 trial for its lead product candidate eravacycline for the treatment of complicated urinary tract infections ("cUTIs"), from 1,000 patients to 1,200 patients to meet the trial's primary endpoints (within the 10% non-inferiority margin), and that the enrollment of more patients in the trial indicated that the existing population was inadequate to meet the trial's primary endpoints. As a result of defendants' false statements and/or omissions, Tetraphase securities traded at artificially inflated prices during the Class Period, with the price of Tetraphase stock reaching a high of more than $9 per share.

On July 26, 2017, Tetraphase announced that it had commenced the underwritten offering of 10 million shares of its common stock at $6.50 per share pursuant to a registration statement and prospectus supplement filed on July 27, 2017. The net proceeds from the SPO, which amounted to approximately $70 million, were to be used to fund the IGNITE3 trial for eravacycline.

On February 13, 2018, at market close, Tetraphase announced the top-line results from the IGNITE3 trial of eravacycline for the treatment of cUTIs. The Company announced that the drug did not achieve its co-primary endpoints in the trial of "responder rate (a combination of clinical cure and microbiological success) in the microbiologic intent-to-treat . . . population at the end-of-IV . . . treatment visit and at the test-of-cure . . . visit, which were evaluated using a 10% non-inferiority margin." On this news, the price of Tetraphase stock declined more than 60% to close at $2.15 per share on February 14, 2018.

Then, on March 6, 2018, when Tetraphase announced its fourth quarter and year-end financial results, it stated that it did not plan to further evaluate eravacycline for the treatment of cUTIs and had ceased its development of an oral formulation of eravacycline.

Robbins Geller is one of the world's leading law firms representing investors in securities litigation. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For five consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in both the amount recovered for shareholders and the total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.

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