Tetraphase Announces Proposed Public Offering of Common Stock
July 26 2017 - 4:30PM
Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH), a clinical stage
biopharmaceutical company developing novel antibiotics to treat
life-threatening multidrug-resistant (MDR) infections, today
announced that it has commenced an underwritten offering of
$60,000,000 of shares of its common stock. All of the shares of
common stock to be sold in the offering will be offered by
Tetraphase.
Piper Jaffray, BMO Capital Markets and Stifel are acting as
joint bookrunning managers for the offering, SunTrust Robinson
Humphrey is acting as lead manager and H.C. Wainwright & Co. is
acting as manager for the offering. Tetraphase intends to grant the
underwriters a 30-day option to purchase up to an additional
$9,000,000 of shares of its common stock on the same terms and
conditions as the offering. The offering is subject to market
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
A shelf registration statement relating to the shares of common
stock offered in the public offering described above was filed with
the Securities and Exchange Commission (SEC) on June
16, 2017 and declared effective by the SEC on July 5, 2017.
The offering will be made only by means of the written prospectus
and prospectus supplement that form a part of the registration
statement. A preliminary prospectus supplement related to the
offering will be filed with the SEC and may be obtained
for free by visiting EDGAR on the SEC website
at www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering
may also be obtained by contacting Piper Jaffray &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, telephone: (800) 747-3924, email:
prospectus@pjc.com, by contacting BMO Capital Markets
Corp. at 3 Times Square, New York, NY 10036,
Attention: Equity Syndicate Department, by telephone at (800)
414-3627 or by email to bmoprospectus@bmo.com or by
contacting Stifel, Nicolaus & Company, Incorporated,
Attention: Syndicate, One Montgomery Street, Suite
3700, San Francisco, California 94104, by telephone at
(415) 364-2720 or by email to syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About Tetraphase Pharmaceuticals,
Inc.Tetraphase is a clinical-stage biopharmaceutical
company using its proprietary chemistry technology to create novel
antibiotics for serious and life-threatening bacterial infections,
including those caused by many of the multidrug-resistant (MDR)
bacteria highlighted as urgent public health threats by the CDC.
Tetraphase has created more than 3,000 novel tetracycline analogs
using its proprietary technology platform. Tetraphase's pipeline
includes three antibiotic clinical candidates: eravacycline, which
is in Phase 3 clinical trials, and TP-271 and TP-6076, which are in
Phase 1 clinical trials.
Forward-Looking StatementsStatements contained
in this press release about Tetraphase that are not purely
historical, and all other statements that are not purely
historical, may be deemed to be forward-looking statements for
purposes of the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. The words "anticipates," "believes,"
"estimates," "expects," "intends," "may," "plans," "projects,"
"will," "would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. These forward-looking
statements involve known and unknown risks and uncertainties that
may cause Tetraphase's actual results, performance or achievements
to be materially different from those expressed or implied by the
forward-looking statements Tetraphase makes. Important factors that
may cause or contribute to such differences include whether or not
Tetraphase will offer the shares or consummate the offering at all
or on the anticipated terms of the offering, fluctuations in
Tetraphase's stock price, the anticipated use of the proceeds of
the offering, Tetraphase's ability to satisfy customary closing
conditions related to the proposed offering, and such other factors
as are set forth in the risk factors detailed from time to time in
Tetraphase's periodic reports and registration statements filed
with the SEC including, without limitation, the risk
factors detailed in Tetraphase's Quarterly Report on Form 10-Q
filed with the SEC on May 8, 2017 and the
preliminary prospectus supplement to be filed in connection with
the proposed offering under the heading "Risk Factors." You should
not place undue reliance on these forward-looking statements. In
addition, any forward-looking statements represent Tetraphase's
views only as of today and should not be relied upon as
representing Tetraphase's views as of any subsequent date.
Tetraphase disclaims any obligation to update any forward-looking
statements.
Investor Contacts:
Tetraphase Pharmaceuticals
Teri Dahlman
617-600-7040
tdahlman@tphase.com
Argot Partners
Maeve Conneighton
206.899.4940
maeve@argotpartners.com
Media Contact:
Sam Brown Inc.
Mike Beyer
312-961-2502
Mikebeyer@sambrown.com
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