Tetraphase to sell 3.3 million common shares through public offering

Proceeds used for phase 3 program for eravacycline, working capital

By Devika Patel

Knoxville, Tenn., Nov. 4 - Tetraphase Pharmaceuticals, Inc. will sell 3.3 million common shares in its public sale with a greenshoe of 495,000 additional shares, according to a Form S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Oct. 25.

BMO Capital Markets and Stifel are the joint bookrunners. Guggenheim Securities, JMP Securities and Needham & Co. are the co-managers.

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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