New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 20, 2014
08:34 EDTTTPHTetraphase provides update on clinical progress of eravacycline
Tetraphase Pharmaceuticals provided a clinical update on its lead antibiotic candidate, eravacycline, and its Phase 3 global clinical program IGNITE. Tetraphase is developing eravacycline as a potent new broad-spectrum antibiotic to treat multidrug-resistant infections, including those caused by many of the MDR Gram-negative bacteria highlighted as urgent public health threats by the Centers for Disease Control and Prevention in September 2013. The company announced today that 50% of targeted enrollment has been achieved in IGNITE 1, which it initiated in late August 2013 to investigate the safety and efficacy of eravacycline in the treatment of complicated intra-abdominal infections. The company also announced that it has begun patient enrollment in IGNITE 2, the company’s two-part Phase 3 clinical trial studying the safety and efficacy of intravenous and oral formulations of eravacycline for the treatment of complicated urinary tract infections. Tetraphase continues to expect to have data from the lead-in portion of IGNITE 2 in mid-2014, top-line data from IGNITE 1 in the first quarter of 2015, and top-line data from IGNITE 2 in mid-2015; and to file for U.S. regulatory approval of eravacycline for both indications by the end of 2015. Eravacycline has been designated by the U.S. Food and Drug Administration as a Qualified Infectious Disease Product for both the cIAI and cUTI indications.
News For TTPH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 18, 2014
16:26 EDTTTPHOn The Fly: Closing Wrap
Stocks began the session sharply higher and remained that way for the entire session. The strength was attributed to investor enthusiasm over statements from the Fed about being patient in their approach to raising interest rates. Over the past couple of weeks the price of oil has often dictated the direction of equities, but that was not the case today as a drop in WTI and Brent crude was not followed by a dip in the equity averages. With year-end approaching, money managers may be chasing performance, but they also may be adjusting portfolio’s ahead of tomorrow’s quadruple witching, when market index futures, market index options, stock options, and stock futures all expire. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 6K to 289K in the week ended December 13, versus expectations for 295K first-time claims. Markit's flash December Services PMI reading came in at 53.6, which was below the consensus 56.3 forecast. The Philadelphia Fed survey of business conditions index drop to 24.5 in December from November's unexpectedly high 40.8 reading, though the steep pullback was in-line with the consensus forecast. The November index of leading economic indicators rose 0.6%, as expected. In Europe, U.K. retail sales including auto fuel increased 1.6% in November, widely topping economists' forecast for a 0.4% gain. Germany's Ifo business climate index advanced to 105.5 in December from 104.7 in the prior month, narrowly topping expectations. COMPANY NEWS: Oracle (ORCL) rallied $4.19, or 10.18%, to $45.35 after the company’s second quarter results surpassed consensus estimates. Analyst commentary was mixed, with research firms Canaccord and FBR Capital raising their price targets on the stock to $50 and $48, respectively, while JPMorgan said it expects consensus estimates for Oracle to be reduced and Oppenheimer said that it thinks the transition to the cloud is increasing pressure on the company's financial model and restraining EPS growth. MAJOR MOVERS: Among the notable gainers was OvaScience (OVAS), which rose $8.26, or 23.63%, to $43.22 after the company said it has achieved its 2014 corporate goals to advance its three fertility treatment options and its stock was upgraded to Outperform at Wedbush. Also higher was Tetraphase Pharmaceuticals (TTPH), which gained $4.81, or 14.49%, to $38.00 after a study of the company's eravacycline antibiotic met its primary endpoint and more than one research firm said the trial results make the company a more likely takeover target. Among the noteworthy losers was Silicon Image (SIMG), which dropped $1.84, or 27.3%, to $4.90 after the company warned it expects a year-over-year revenue decline in 2015 of about 10% due to a reduction in mobile design wins at one of its largest customers. Also lower were shares of RCS Capital (RCAP), which fell $1.81, or 15.39%, to $9.95 after its Executive Chairman of the Board, Nicholas Schorsch, was reportedly accused of directing two executives at American Realty Capital Properties (ARCP), where he was formerly the Chairman, to manipulate quarterly financial results. INDEXES: The Dow gained 421.28, or 2.43%, to 17,778.15, the Nasdaq advanced 104.08, or 2.24%, to 4,748.40, and the S&P 500 rose 48.34, or 2.4%, to 2,061.23.
12:26 EDTTTPHOn The Fly: Midday Wrap
Subscribe for More Information
10:58 EDTTTPHTetraphase seen as takeover target after antibiotic trial success
Subscribe for More Information
09:21 EDTTTPHOn The Fly: Pre-market Movers
Subscribe for More Information
08:52 EDTTTPHTetraphase price target raised to $46 from $28 at Needham
Subscribe for More Information
07:59 EDTTTPHTetraphase price target raised to $50 from $23 at Brean Capital
Brean Capital raised its price target on Tetraphase to $50 from $23 and called it an "easy" takeout target following the release of positive IGNITE 1 data for its fully synthetic antibiotic, Eravacycline. The firm said the company is looking for a partner to commercialize its drug but given big pharma's appetite for antibiotics they expect the company to be acquired. Brean Capital reiterated its Buy rating on Tetraphase shares.
07:43 EDTTTPHTetraphase price target raised to $54 from $28 at Stifel
Stifel increased its price target on Tetraphase after a study of the company's eravacycline treatment met its primary endpoint. The firm thinks the results of the study were positive and could lead to FDA approval in 2016. Stifel believes the company could well be acquired before the end of 2015. It keeps a Buy rating on the shares.
07:08 EDTTTPHTetraphase price target raised to $40 from $26 at Cantor
Subscribe for More Information
December 17, 2014
18:34 EDTTTPHOn The Fly: After Hours Movers
Subscribe for More Information
16:11 EDTTTPHTetraphase's intra-abdominal infections shows positive Phase 3 results
Tetraphase Pharmaceuticals announced positive top-line results from IGNITE 1, the company’s Phase 3 clinical trial of eravacycline for the treatment of complicated intra-abdominal infection compared to ertapenem. In the trial, eravacycline met the primary endpoint of statistical non-inferiority of clinical response at the test-of-cure visit, under the guidance set by the FDA and the European Medicines Agency. The primary analysis under the FDA guidance was conducted using a 10% non-inferiority margin in the microbiological intent-to-treat population. In the micro-ITT population, the lower and upper bounds of the 95% confidence interval were -7.1% and 5.5%, respectively. Under the EMA guidance, the primary analysis was conducted using a 12.5% non-inferiority margin of the clinically evaluable patient population. In the CE population, the lower and upper bounds of the 95% confidence interval were -6.3% and 2.8%, respectively. The secondary analyses were consistent with and supportive of the primary outcome. There were no drug-related serious adverse events in the trial.
December 8, 2014
16:24 EDTTTPHOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid another drop in crude oil prices, which tumbled to five-year lows. The market opened slightly lower following weaker than expected data from China and Japan, with nothing of note on the domestic calendar to get buyers involved in the day’s activity. Near noon, the averages gained downside momentum and though the market pared its losses several times, it was never able to gain any steam to pull the indexes back into the green. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, Chinese exports rose 4.7% from a year earlier in November, which missed the consensus estimate for an 8% increase. Chinese imports fell 6.7% from the prior year last month, compared with projections for a 3.8% increase. Additionally, Japan's revised third quarter gross domestic product estimate showed the economy shrank more than initially thought, with growth contracting an annualized 1.9%. COMPANY NEWS: Shares of Cubist Pharmaceuticals (CBST) surged $26.24, or 35.29%, to $100.60 after Merck (MRK) agreed to acquire the maker of next-generation antibiotics for $102 per share in cash, or $8.4B and the assumption of $1.1B in debt. A number of other antibiotic makers also climbed, including Tetraphase (TTPH), which rose $2.45, or 8.82%, to $30.24, and Cempra (CEMP), which advanced $1.64, or 11.37%, to $16.06, while shares of Merck finished fractionally higher, adding 39c, or 0.63%, to $61.88 following the deal announcement. MAJOR MOVERS: Among the notable gainers following their presentations at the American Society of Hematology, or ASH, annual meeting were Calithera Biosciences (CALA), which gained $2.38, or 22.52%, to $12.95, and Acceleron Pharma (XLRN), which jumped $5.11, or 13.6%, to $42.67. Among the noteworthy losers was McDonald's (MCD), which fell $3.70, or 3.84%, to $92.61 after the Dow member reported a 2.2% decline in global same-restaurant sales in November. Additionally, the fast-food giant warned that its fourth quarter results would be hurt by its sales pressures, supplier issues in China and a stronger U.S. dollar. Also lower were shares of Liquidity Services (LQDT), which plunged $2.77, or 27.0%, to $7.49 after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with surplus merchandise. INDEXES: The Dow fell 106.31, or 0.59%, to 17,852.48, the Nasdaq dropped 40.06, or 0.84%, to 4,740.69, and the S&P 500 slipped 15.06, or 0.73%, to 2,060.31.
12:25 EDTTTPHAntibiotic makers rise after Merck agrees to buy Cubist
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use