Tetraph Pharma (TTPH) Posts Q1 Loss of 53c/Share

Tetraph Pharma (NASDAQ: TTPH) reported Q1 EPS of ($0.53), $0.08 worse than the analyst estimate of ($0.45). Revenue for the quarter came in at $2.5 million versus the consensus estimate of $2.97 million.

First-Quarter and Recent Corporate Highlights

• Surpassed the 50% enrollment mark in IGNITE 1, the ongoing Phase 3 clinical trial studying the safety and efficacy of intravenous (IV) eravacycline for the treatment of complicated intra-abdominal infections; top-line data from this study are expected in the first quarter of 2015.
• Progressed enrollment in IGNITE 2, a Phase 3 clinical trial studying the safety and efficacy of oral and IV formulations of eravacycline for the treatment of complicated urinary tract infections; top-line data from the lead-in portion of this trial are expected in mid-2014.
• Eravacycline granted Fast Track designation by the U.S. Food and Drug Administration (FDA) in its IV and oral formulations and for both indications being pursued; Fast Track status is a process designed to facilitate the development and expedite the review of drugs that treat serious conditions and fill an unmet medical need.
• Strengthened the senior management team with the hiring of Craig Thompson as Chief Operating Officer.
• Appointed Nancy J. Wysenski to the Company's Board of Directors, bringing broad experience in the commercial launch and marketing of pharmaceutical products.

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

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