|Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) Jumped 10% On superbug exposure in Los Angeles|
|By Marilyn Mullen|
|Thursday, 19 February 2015 12:07|
Shares of Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) soared as much as 10%% premaron Thursday in apparent response to the exposure of up to 181 patients at UCLA Medical Center to carbapenem-resistant enterobacteriaceae (CRE), a drug-resistant superbug.
The patients, two who have died, were potentially exposed during endoscopic procedures, although the two scopes in question were sterilized according to the manufacturer's instructions.
Tetraphase develops antibiotics targeting multi-drug-resistant (MDR) bacterial infections. Its lead product is eravacycline, a broad-spectrum intravenous and oral antibiotic for the treatment of MDR infections, including MDR Gram-negative bacteria like CRE. Thinly-traded nano cap Achaogen (NASDAQ:AKAO), also developing antibiotics for MDR Gram-negative infections, is up 8% premarket as well.
All of this activity helped buoy the buyout prospects — and the stock price — of Tetraphase Pharmaceuticals (NASDAQ:TTPH), especially after it announced in December that its lead candidate, eravacycline, scored in a phase-three trial against complicated intra-abdominal infections.
Recently, Tetraphase CEO Guy Macdonald spoke with IBD about the challenges of fighting drug-resistant bugs and why the big guns are so interested in it now.
Shares of the company are down 8% so far this year. Over the past one year, the stock has been trading within a range of $8.01 and $44.55. Over the past one year, shares of the company have outperformed the wider market and jumped 161%.
Tetraphase Pharmaceuticals, Inc., incorporated on July 7, 2006, is a clinical stage biopharmaceutical company. The Company’s product candidate, eravacycline, is a fully synthetic tetracycline derivative that the Company is developing 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