Tetraphase Announces $75 Mln Public Offering

(RTTNews) - Tetraphase Pharmaceuticals Inc (TTPH), a clinical-stage biopharmaceutical company, said Wednesday it plans to offer up to $75 million of its common shares in an underwritten public offering. All of the shares of common stock to be sold in the offering will be offered by Tetraphase.

BMO Capital Markets, Stifel and Guggenheim Securities are acting as joint bookrunning managers for the offering and JMP Securities and Needham & Co are acting as co-managers.

Tetraphase intends to grant the underwriters a 30-day option to purchase up to an additional $11.25 million of its shares.