NEW YORK, March 24, 2016 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Tetraphase Pharmaceuticals Inc. ("Tetraphase") (NASDAQ: TTPH) between March 5, 2015 and September 8, 2015. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that Tetraphase and certain insiders issued materially false and misleading statements to investors. In particular, it is alleged that throughout the class period, Tetraphase made positive statements about the efficacy and potential for its drug Eravacycline to achieve approval by the FDA, despite knowledge that a pivotal portion of its IGNITE2 phase 3 clinical trial for Eravacycline would fail to achieve its primary endpoint of statistical non-inferiority compared to the antibiotic Levofloxacin.
On September 8, 2015, the Company announced that the pivotal portion of its IGNITE2 phase 3 clinical trial of Eravacycline did not achieve its primary endpoint. Following this news, shares of Tetraphase fell from a close of $44.78 on September 8, 2015, to a close of $8.36 per share on September 10, 2015—a loss of more than 80% in market value.
If you suffered a loss in Tetraphase you have until March 28, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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SOURCE Levi & Korsinsky, LLP