NEW YORK, Feb. 05, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Tetraphase Pharmaceuticals, Inc. (“Tetraphase” or the “Company”) (Nasdaq:TTPH) in the United States District Court for the District of Massachusetts on behalf of a class consisting of all persons or entities who purchased Tetraphase securities between March 5, 2015 and September 8, 2015, inclusive (the “Class Period”).
Shareholders who incurred losses on shares purchased within the class period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Tetraphase Pharmaceuticals, Inc. within the period March 5, 2015 and September 8, 2015, inclusive, you may, no later than March 28, 2016, request that the Court appoint you lead plaintiff of the proposed class.
The filed Complaint alleges that since March 5, 2015, Tetraphase and certain of its officers and directors have misrepresented the efficacy and safety of its drug Eravacycline, and attendant capacity for approval by both the U.S. Food and Drug Administration (“FDA”) and the European Medicines Agency (“EMA”).
On September 8, 2015, following close of market, Tetraphase issued a press release announcing results of the pivotal portion of the IGNITE2 phase 3 clinical trial of Eravacycline. The Company disclosed that Eravacycline, administered as an intravenous (IV) to oral transition therapy for the treatment of complicated urinary tract infections, had failed to achieve its primary endpoint of statistical non-inferiority compared to Levofloxacin under the guidelines established by both the FDA and EMA.
Following this disclosure, the price of Tetraphase common stock declined from a closing share price of $44.78 on September 8, 2015 to close at $8.36 per share on September 10, 2015, a loss of more than 80% or $1.3 billion in market value.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Tetraphase Investigation.”
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