Monday, February 8, 2016

Faruqi & Faruqi Alert: Tetraphase Pharmaceuticals, Inc.


Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tetraphase Pharmaceuticals, Inc. (“Tetraphase” or the “Company”) (NASDAQ:TTPH) of the March 28, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all those who purchased Tetraphase securities between March 5, 2015 and September 8, 2015 (the “Class Period”).  The case, Harrington v. Tetraphase Pharmaceuticals Inc. et al, No. 1:16-cv-10133 (D. Mass. Jan 28, 2016) was filed on January 28, 2016, and has been assigned to Judge Leo T. Sorokin.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by misrepresenting the capacity for clinical approval of Eravacycline, an intravenous (IV) to oral transition therapy for the treatment of complicated urinary tract infections, by both the U.S. Food and Drug Administration (“FDA”) and the European Medicines Agency (“EMA”).
Specifically, on September 8, 2015, Tetraphase announced negative results of the pivotal portion of Eravacycline during the IGNITE2 phase 3 clinical trial. The Company disclosed that Eravacycline had failed to achieve its primary endpoint of statistical non-inferiority compared to Levofloxacin under the guidelines established by both the FDA and EMA.
After this announcement, Tetraphase’s share price fell from $44.78 per share on September 8, 2015 to a closing price of $8.36 on September 10, 2015—a $36.42 or a 81.3% drop.
Take Action
If you invested in Tetraphase securities between March 5, 2015 and September 8, 2015 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comFaruqi & Faruqi, LLP also encourages anyone with information regarding Tetraphase’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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