November 4, 2013

Tetraphase Pharmaceuticals Announces Proposed Offering of Common Stock

WATERTOWN, Mass.--(BUSINESS WIRE)-- Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) today announced it has commenced an underwritten public offering of 3,300,000 shares of its common stock. All of the shares of the common stock to be sold in the offering will be offered by Tetraphase.

Tetraphase intends to use the net proceeds of the offering to fund the ongoing clinical development of eravacycline, including the potential submission of a new drug application for eravacycline with the FDA, and for working capital and other general corporate purposes.

BMO Capital Markets and Stifel are acting as joint book-running managers. Guggenheim Securities, JMP Securities, and Needham & Company are acting as co-managers. Tetraphase intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares sold in the offering, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained for free by visiting EDGAR on the U.S. Securities and Exchange Commission (SEC) website at www.sec.gov. Copies of the preliminary prospectus may also be obtained by contacting BMO Capital Markets Corp. at 3 Times Square, 27th Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627 or by email to bmoprospectus@bmo.com or by contacting Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling (415) 364-2500.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Tetraphase Pharmaceuticals, Inc.

Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multidrug-resistant bacterial infections. Tetraphase's lead product candidate, eravacycline, is a fully synthetic tetracycline derivative being developed as a broad-spectrum intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multidrug-resistant infections, including MDR Gram-negative infections.

Statements contained in this press release about Tetraphase that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expression are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements involve known and unknown risks and uncertainties that may cause Tetraphase's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements Tetraphase makes. Important factors that may cause or contribute to such differences include whether or not Tetraphase will offer the shares or consummate the offering at all or on the anticipated terms of the offering, fluctuations in Tetraphase's stock price, the anticipated use of the proceeds of the offering, Tetraphase's ability to satisfy customary closing conditions related to the proposed offering, and such other factors as are set forth in the risk factors detailed from time to time in Tetraphase's periodic reports and registration statements filed with the SEC including, without limitation, the risk factors detailed in Tetraphase's Quarterly Report on Form 10-Q filed on August 12, 2013, and the preliminary prospectus Tetraphase filed with the SEC on November 4, 2013 under the heading "Risk Factors." You should not place undue reliance on these forward-looking statements. In addition, any forward-looking statements represent Tetraphase's views only as of today and should not be relied upon as representing Tetraphase's views as of any subsequent date. Tetraphase disclaims any obligation to update any forward-looking statements.

Investors:
Tetraphase Pharmaceuticals
Jennifer LaVin
Executive Director, Corp. Communications
617-715-3591
jlavin@tphase.com
or
Argot Partners,
Susan Kim, 212-600-1902
susan@argotpartners.com

Source: Tetraphase Pharmaceuticals, Inc.

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