Tetraphase Pharmaceuticals (NASDAQ:$TTPH) saw an increase in shares today. And when I say increase, I mean a whopping 27% increase. It all started after the Watertown, Massachusetts-based company disclosed positive top-line results for a phase 3 trial evaluating Eravacycline – its lead product candidate – for treating complicated intra-abdominal infections.
What Happened?
Tetraphase found that when administered twice daily intravenously, Eravacycline stacked up well against Meropenem, and had no adverse side effects. The trial looked at 500 patients who are suffering from a broad range of pathogens.
According to the clinical-stage biopharma, these results – and the increase in shares – will allow it to move forward with regulatory submission in the EU in Q3 of 2017 and the United States in Q1 of 2018. What does this mean? Well, it suggests that Tetraphase is closer than ever to meaningful product revenue.
What Does the Future Hold?
Taking into consideration the dire state of affairs concerning antibiotic resistance, there is a good chance that Tetraphase will receive approval for its lead drug candidate, which, as we speak, is being evaluated in additional phase 3 trials. As of right now, it is unclear as to whether this will amount to a significant source of revenue.
That said, because Tetra has essentially no meaningful revenue streams at the moment, investors have made sure that they aren’t too picky. But today’s news is definitely a step in the right direction for the company and shareholders.
Featured Image: Depositphotos/© kalinovsky
