Tetraphase sold for $14m … and $600m goes up in smoke!
Dear All (and with thanks to Kevin Outterson for co-authoring this newsletter): Wonkish and long note alert … top-up your coffee and settle in… We learned about a week ago that Tetraphase, despite having brought an antibacterial (eravacycline) to approval, has been sold for stock worth $14.4m (plus a potential $12.5m more if aggressive sales targets are achieved).