Fly News Breaks for January 24, 2020
Jan 24, 2020 | 08:02 EDT
Gabelli analyst Kevin Kedra downgraded Tetraphase to Hold from Buy following the company's most recent stock sale, telling investors that the "strategy of raising cash to cover operations for an additional 3-6 months has been a disaster for antibiotics companies." Tetraphase will still require additional financing within the next 6-9 months and he sees no clear catalyst to support the stock, Kedra added.
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