Tetraphase Pharmaceutical reports $29.5M for Q1 2017

Tetraphase Pharmaceutical has reported a net loss of $29.5 million for the first quarter of 2017 which is decrease compared to a net loss of $16.7 million for the same period in 2016.

The company explained decrease as a result of R&D expenses from $13.5 million in first quarter of 2016 to $25.9 million in 2017.  The increase in R&D expenses was primarily due to increased costs related to our IGNITE3 and IGNITE4 phase 3 clinical studies for eravacycline, the company said in its press release on Friday.

Guy Macdonald, President and Chief Executive Officer of Tetraphase commented:”We have continued to make significant advancements across all of our development programs, particularly for IV eravacycline with the early completion of enrollment of IGNITE4 in complicated intra-abdominal infections (cIAI), and the initiation of IGNITE3 in complicated urinary tract infections (cUTI), for which enrollment is progressing well.”

“Preparations are ongoing for the submission of a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for the treatment of cIAI in the third quarter of this year and we look forward to top-line data from IGNITE4 also in the third quarter, which would support a subsequent U.S. New Drug Application (NDA) filing,” Macdonald said

Macdonald added, “We also look forward to data from the ongoing phase 1 clinical trials for oral eravacycline which are designed to optimize the oral dosing regimen, and we continue to anticipate providing an update on that program during the third quarter of 2017.”