Tetraphase plunges 80% after hours after antibiotic fails to meet trial goals

Tetraphase Pharmaceuticals shares plunged 80 percent in after-hours trading after announcing that a big, late-stage trial of its antibiotic failed to prove it works as well as existing drugs to treat infections of the urinary tract. Watertown-based Tetraphase (Nasdaq: TTPH) stood at $8.35 as of 4:30 p.m. today. The Phase 3 trial of 908 patients showed eravacycline is not as effective as levofloxacin in the treatment of complicated urinary tract infections. The news was a surprise for many who had…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news