Tetraphase Pharmaceuticals to conduct initial public offering of stock

Proceeds used for phase 3 program for eravacycline, working capital

By Devika Patel

Knoxville, Tenn., Feb. 11 - Tetraphase Pharmaceuticals, Inc. will price an initial public offering of its common stock, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company expects its shares will trade on the Nasdaq under the symbol "TTPH."

The deal will have a greenshoe option.

Barclays, BMO Capital Markets, Stifel, JMP Securities and Needham & Co. are assisting.

Proceeds will be used to fund the company's phase 3 program for eravacycline for the treatment of complicated intra-abdominal infections and complicated urinary tract infections and for working capital and other general corporate purposes.

The biopharmaceutical company is based in Watertown, Mass.

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