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Fly News Breaks for September 9, 2015
TTPH
Sep 9, 2015 | 05:40 EDT
JMP Securities analyst Liisa Bayko downgraded Tetraphase Pharmaceuticals to Market Perform citing an uncertain future after eravacycline missed its efficacy endpoint of non-inferiority to highly resistant comparator levofloxacin in its Phase 3 study in complicated urinary tract infection. The analyst estimates Tetraphase has $200M in cash, net of debt, or around $5 per share, which she views as a bottom for the stock.
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