SAN DIEGO & WATERTOWN, Mass.–(BUSINESS WIRE)–$TTPH #ClassAction–Shareholder rights law firm Robbins Arroyo LLP reminds shareholders that
purchasers of Tetraphase Pharmaceuticals, Inc. (NasdaqGS: TTPH) filed a
class action complaint against the company’s officers and directors for
alleged violations of the Securities Exchange Act of 1934 and the
Securities Act of 1933. Tetraphase, a clinical-stage biopharmaceutical
company, develops various antibiotics for the treatment of serious and
life-threatening multidrug-resistant infections. Tetraphase’s lead
product candidate is known as eravacycline.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/tetraphase-pharmaceuticals-jun-19/
Tetraphase Accused of Misrepresenting Enrollment for Its Drug Trial
According to the complaint, Tetraphase reported that enrollment was
progressing well for the company’s IGNITE3 trial. However, in reality
Tetraphase increased the patient enrollment in its IGNITE3 trial from
1,000 patients to 1,200 patients because the existing population was
inadequate to meet the trial’s primary endpoints. On February 13, 2018,
Tetraphase announced top-line results from its IGNITE3 trial for the
treatment of patients with complicated urinary tract infections,
revealing that eravacycline did not achieve co-primary endpoints. The
news caused Tetraphase’s stock to fall over 60%, closing at only $2.15
per share on February 14, 2018. The stock now trades at just $0.72.
Tetraphase Shareholders Have Legal Options
Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, [email protected],
or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
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Contacts
Leonid Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
[email protected]
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
