NEW YORK, Aug. 24, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Tetraphase Pharmaceuticals, Inc.. (“Tetraphase” or the “Company”) (NASDAQ: TTPH). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Tetraphase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 13, 2018, post-market, Tetraphase announced top-line results from its IGNITE3 Phase 3 clinical trial of eravacycline in complicated urinary tract infection (“cUTI”), disclosing that eravacycline did not achieve co-primary endpoints in the trial. On this news, Tetraphase’s stock price fell $3.28 per share, or 60.41%, to close at $2.15 per share on February 14, 2018. Then, on March 6, 2017, Tetraphase reported its financial and operating results for the quarter and year ended December 31, 2017, and advised investors that given the results of the IGNITE3 study, the Company did not plan to further evaluate eravacycline in cUTI and had ceased its development of an oral formulation of eravacycline for the treatment of cUTI.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby
Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 9980
