Tetraphase Pharma (TTPH) Tops Q4 EPS by 1c, Revenues Beat

Tetraphase Pharma (NASDAQ: TTPH) reported Q4 EPS of ($0.40), $0.01 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $4.28 million versus the consensus estimate of $2.49 million.

“We capped off 2018 with a strong finish, with the regulatory approvals of XERAVA™ (eravacycline) for the treatment of complicated intra-abdominal infections (cIAI) in both the U.S. and Europe, followed by the commercial launch of XERAVA in the U.S. in mid-October,” said Guy Macdonald, President and Chief Executive Officer of Tetraphase. “With the U.S. launch off to a solid start, XERAVA is now available for use in U.S. hospitals and healthcare institutions for the treatment of a range of patients with empiric and confirmed cIAI. We are encouraged by the progress we have made during our first few months of launch, with more than 400 formulary reviews already completed or scheduled to occur by mid-year and a re-ordering rate for XERAVA above 70 percent. Further, as we look to the balance of 2019, we have made the decision to delay launching XERAVA in the EU5 independently and will instead continue to focus our resources on building momentum and supporting a successful launch in the U.S.”

Mr. Macdonald continued, “With respect to our pipeline, we expect to complete our bronchopulmonary disposition study for TP-6076, targeted against Acinetobacter baumannii and other multidrug-resistant pathogens, later this year and look forward to presenting preclinical data on our new acute myeloid leukemia (AML) pipeline candidate, TP-2846, at the American Association for Cancer Research (AACR) Annual Meeting in Atlanta.”

For earnings history and earnings-related data on Tetraphase Pharma (TTPH) click here.

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