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Fly News Breaks for September 3, 2019
Sep 3, 2019 | 07:12 EDT
H.C. Wainwright analyst Ed Arce downgraded Tetraphase Pharmaceuticals to Neutral from Buy without a price target. The company's $30.7M debt repayment, disclosed on Friday night, "may represent an ominous signal," Arce tells investors in a research note. The analyst says he does not know why the loan was repaid in full so early. Plus, given the difficult environment currently for antibiotics companies to access the capital markets at reasonable terms, the overall risk profile of Tetraphase "has now risen considerably," contends the analyst.
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