A lawsuit was filed on behalf of investors in Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) shares over alleged securities laws violations and NASDAQ:TTPH investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/17/2016 -- A shareholder in Tetraphase Pharmaceuticals Inc filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Securities Laws by Tetraphase Pharmaceuticals Inc.
Investors who purchased shares of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) have certain options and for certain investors are short and strict deadlines running. Deadline: March 28, 2016. NASDAQ:TTPH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) common shares between March 5, 2015 and September 8, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 5, 2015 and September 8, 2015 Tetraphase Pharmaceuticals made allegedly positive statements about the efficacy and potential for its drug Eravacycline to achieve approval by the FDA, despite knowledge that a pivotal portion of its IGNITE2 phase 3 clinical trial for Eravacycline would fail to achieve its primary endpoint of statistical non-inferiority compared to the antibiotic Levofloxacin.
Tetraphase Pharmaceuticals Inc reported that its annual Total Revenue declined from $10.49 million in 2013 to $9.10 million in 2014 and that its respective Net Loss increased from $29.64 million to $66.74 million. Shares of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) grew from $8.83 per share in May 2014 to as high as $51.75 per share in July 2015.
On September 8, 2015, Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) announced that the IGNITE2 phase 3 clinical trial of eravacycline administered as an IV to oral transition therapy for the treatment of complicated urinary tract infections (cUTI) did not achieve its primary endpoint of statistical non-inferiority compared to levofloxacin. Shares of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) declined to as low as $9.06 per share on September 9, 2015, respectively to as low as $4.10 per share on February 12, 2016.
Those who purchased shares of Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com