Biotech Tetraphase Pharmaceutical sets terms for $75 million IPO

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Tetraphase Pharmaceuticals, a biotech creating antibiotics to treat life-threatening multi-drug resistant infections, announced terms for its IPO on Tuesday. The Watertown, MA-based company plans to raise $75 million by offering 6.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Tetraphase Pharmaceuticals would command a market value of $176 million.

Tetraphase Pharmaceuticals, which booked $8 million in sales for the 12 months ended 12/31/2012, plans to list on the NASDAQ under the symbol TTPH. Barclays and BMO Capital Markets are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: TTPH

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