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Stock Market & Financial Investment News

News Breaks
July 30, 2014
07:55 EDTTTPH, TTPHFDA and National Institutes of Health hold a workshop
The Development of New Antibacterial Products: Charting a Course for the Future explores key issues and challenges related to antibacterial product development and discusses the development of streamlined regulatory pathways for bringing new antibacterial drugs to market in a meeting being held in North Bethesda, Maryland on July 30-31 at 8 am.
News For TTPH From The Last 14 Days
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December 18, 2014
12:26 EDTTTPHOn The Fly: Midday Wrap
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10:58 EDTTTPHTetraphase seen as takeover target after antibiotic trial success
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09:21 EDTTTPHOn The Fly: Pre-market Movers
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08:52 EDTTTPHTetraphase price target raised to $46 from $28 at Needham
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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
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December 17, 2014
18:34 EDTTTPHOn The Fly: After Hours Movers
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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
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