Tetraphase Pharmaceuticals announces IPO pricing
Tetraphase Pharmaceuticals Inc. announced Wednesday the pricing of its initial public offering of 10,714,286 shares of common stock at a price to the public of $7.00 per share, less underwriting discounts and commissions.
Watertown-based Tetraphase said in a press release that its common stock is expected to begin trading on the NASDAQ Global Market under the symbol “TTPH” on March 20.
Tetraphase has granted the underwriters a 30-day option to purchase up to 1,607,143 additional shares of common stock at the same price to cover over allotments, if any.
Barclays and BMO Capital Markets are acting as joint book-running managers. Stifel, JMP Securities, and Needham & Company are acting as co-managers for the offering.
Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multi-drug resistant infections.