-Company to Hold Conference Call Today at
“During the first quarter, interest in XERAVATM
(eravacycline) grew significantly among physicians in U.S. hospitals and
healthcare institutions,” said
Mr. Macdonald continued, “Beyond XERAVA, we presented data on TP-2846,
our new candidate for treatment of acute myeloid leukemia (AML), at the
Key Milestones for 2019
- Complete 400 formulary reviews for XERAVA by mid-year
- Complete bronchopulmonary disposition study for TP-6076 – 2H 2019
- Announce next steps for TP-2846 and TP-271 – 2H 2019
First Quarter and Recent Highlights
- Continued to Progress Launch of XERAVA in U.S. Hospitals With High
The salesforce continues to focus on Tier 1 institutions, which are the highest users of antibiotics defined by days of therapy and is now also focusing their efforts on Tier 2 institutions. Together these constitute approximately 90 percent of the Gram-negative market. Beyond engaging with 100 percent of the Tier 1 institutions by the end of 2018, the salesforce completed outreach to 100 percent of Tier 2 institutions by the end of the first quarter of 2019. The reorder rate for XERAVA was greater than 55 percent as of the end of the first quarter and 400 formulary reviews are planned to be complete by mid-year 2019.
- Presented New Preclinical Data on TP-2846 for AML at the 2019 AACR
In April, Tetraphase presented three posters on TP-2846, the Company’s new pipeline candidate for AML, at the 2019 AACR Annual Meeting. The poster presentations included in vitro and in vivo data supporting TP-2846’s potential as a novel tetracycline antileukemia agent with a new mechanism of action. Data showed antiproliferative activity against AML cell lines in vitro and in vivo in xenograft models, and against bone marrow samples from AML patients in ex vivo assays, including cell lines resistant to anthracyclines, cytarabine and venetoclax.
- First Patient Dosed in Phase 3 Clinical Trial of Eravacycline for
China Everest Medicines Limited, which has the exclusive license to develop and commercialize eravacycline in China, dosed the first patient in its Phase 3 clinical trial of eravacycline for cIAI in China. The Phase 3, randomized, multicenter, double-blind, double-dummy, parallel-group, controlled study is designed to evaluate the efficacy, safety and tolerability of eravacycline versus ertapenem for the treatment of cIAI in hospitalized adult patients.
- Presented XERAVA, TP-271 and TP-6076 Data at the 29th
European Congress of Clinical Microbiology and Infectious Diseases(ECCMID)
In April, Tetraphase presented data at the 29th ECCMID including clinical isolates from samples collected from European hospitals in 2017 and in vitro activity of XERAVA and comparators against Gram-negative and Gram-positive bacteria. In addition, the safety, tolerability and pharmacokinetic results from the multiple-ascending dose study of TP-271 were highlighted, as well as in vivo efficacy of TP-6076 in murine thigh and lung infection models challenged with Acinetobacter baumannii.
- Sixteen Abstracts Selected for Poster Presentations at Upcoming
XERAVA, TP-271 and TP-6076 will be highlighted at upcoming meetings including the 22nd Annual Making a Difference in Infectious Diseases (MAD-ID) Meeting; the 2019
Surgical Infection Society (SIS) Congress; and American Society for Microbiology (ASM) Microbe2019. Specifically, five abstracts have been accepted for poster presentations at the 22nd MAD-ID Meeting including data on the efficacy of XERAVA in high-risk cIAI subgroups, as well as on the efficacy of XERAVA against Enterobacteriaceae and Acinetobacter baumannii, including MDR isolates. Four posters will be presented at the SIS Congressincluding surveillance data and factors that impact duration of antibiotic therapy with XERAVA. Finally, at ASM Microbe 2019, seven posters will be presented. This includes five posters on XERAVA, one of which highlights the activity of cefiderocol, ceftazidime-avibactam, and XERAVA against carbapenem-resistant E. coli isolates from the U.S. Two additional posters on the pharmacokinetics and efficacy of TP-6076 in animal models also will be highlighted.
First Quarter 2019 Financial Results
For the first quarter of 2019, Tetraphase reported a net loss of
Total revenues were
Research and development (R&D) expenses for the first quarter of 2019
Selling, general and administrative (SG&A) expenses for the first
quarter of 2019 were
Conference Call and Webcast Information
Tetraphase will host a conference call today at
A replay of the conference call will be available from
XERAVA (eravacycline for injection) is a tetracycline class antibacterial indicated for the treatment of complicated intra-abdominal infections (cIAI) in patients 18 years of age and older. It is approved for use in the U.S. and
XERAVATM Important Safety Information
XERAVA is a tetracycline class antibacterial indicated for the treatment of complicated intra-abdominal infections in patients 18 years of age and older.
XERAVA is not indicated for the treatment of complicated urinary tract infections.
To reduce the development of drug-resistant bacteria and maintain the effectiveness of XERAVA and other antibacterial drugs, XERAVA should be used only to treat or prevent infections that are proven or strongly suspected to be caused by susceptible bacteria.
XERAVA is contraindicated for use in patients with known hypersensitivity to eravacycline, tetracycline-class antibacterial drugs or to any of the excipients. Life-threatening hypersensitivity (anaphylactic) reactions have been reported with XERAVA.
The use of XERAVA during tooth development (last half of pregnancy, infancy and childhood to the age of eight years) may cause permanent discoloration of the teeth (yellow-gray-brown) and enamel hypoplasia.
The use of XERAVA during the second and third trimester of pregnancy, infancy and childhood up to the age of eight years may cause reversible inhibition of bone growth.
Clostridium difficile associated diarrhea (CDAD) has been reported with use of nearly all antibacterial agents and may range in severity from mild diarrhea to fatal colitis.
The most common adverse reactions observed in clinical trials (incidence ≥ 3%) were infusion site reactions, nausea, and vomiting.
XERAVA is structurally similar to tetracycline-class antibacterial drugs and may have similar adverse reactions. Adverse reactions including photosensitivity, pseudotumor cerebri, and anti-anabolic action which has led to increased blood urea nitrogen, azotemia, acidosis, hyperphosphatemia, pancreatitis, and abnormal liver function tests, have been reported for other tetracycline-class antibacterial drugs, and may occur with XERAVA. Discontinue XERAVA if any of these adverse reactions are suspected.
Please see full prescribing information for XERAVA.
Any statements in this press release about our future expectations,
plans and prospects, including statements regarding our strategy, future
operations, prospects, plans and objectives, including our key
milestones for 2019 and our anticipated cash runway, and other
statements containing the words "anticipates," "believes," "expects,"
"plans," "will" and similar expressions, constitute forward-looking
statements within the meaning of The Private Securities Litigation
Reform Act of 1995. Actual results may differ materially from those
indicated by such forward-looking statements as a result of various
important factors, including whether preclinical data is indicative of
expected clinical data; our cash resources and the expected revenue will
be sufficient to fund our operations in the future; our product
candidates will succeed in clinical trials; even if such clinical trials
are successful, whether we may ever achieve regulatory approval of such
product candidates; and other clinical, regulatory and commercial risk
factors discussed in the "Risk Factors" section of our annual report on
Form 10-K for the period ended
|Tetraphase Pharmaceuticals, Inc.|
|Condensed Consolidated Statement of Operations (Unaudited)|
|(In thousands, except per share data)|
|Three Months Ended|
|Product revenue, net||$||341||$||-|
|Cost of revenue – product||164||-|
|Cost of revenue – intangible asset amortization||98||-|
|Research and development||6,737||18,127|
|Selling, general and administrative||13,314||5,705|
|Loss from operations||(19,040)||(21,941)|
|Other income and expenses|
|Net loss per share-basic and diluted||$||(0.36)||$||(0.42)|
|Weighted-average common shares used in net loss|
|per share-basic and diluted||53,740||51,601|
|Tetraphase Pharmaceuticals, Inc.|
|Condensed Consolidated Balance Sheets (Unaudited)|
|March 31,||December 31,|
|Cash and cash equivalents||$||87,559||$||107,776|
|Accounts receivable, net||1,818||2,274|
|Prepaid expenses and other current assets||2,411||2,674|
|Property and equipment, net||1,116||1,121|
|Operating lease right-of-use assets||5,896||-|
|Intangibles assets, net||4,553||4,652|
|Other assets, noncurrent||699||699|
|Liabilities and Stockholders' equity|
|Accounts payable and accrued expenses||$||11,949||$||
|Operating lease liabilities||6,019||-|
|Total stockholders' equity||62,918||79,682|
|Total liabilities and stockholders' equity||$||109,400||$||122,944|