Tetraphase to sell 8,333,333 shares for between $8.00 and $10.00 each

Proceeds used for Phase 3 program for eravacycline, working capital

By Devika Patel

Knoxville, Tenn., March 19 - Tetraphase Pharmaceuticals, Inc. plans to price its initial public offering of 8,333,333 common shares at between $8.00 and $10.00 per share, according to an FWP filed Tuesday with the Securities and Exchange Commission. The sale was announced Feb. 11.

The deal will have an over-allotment option.

Barclays, BMO Capital Markets Corp., Stifel, Nicolaus & Co., Inc., JMP Securities LLC and Needham & Co., LLC are the underwriters.

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. It expects its shares will trade on the Nasdaq under the symbol "TTPH."

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