Tetraphase Pharmaceuticals announces IPO pricing

Tetraphase Pharmaceuticals Inc. announced Wednesday the pricing of its initial public offering of 10,714,286 shares of common stock at a price to the public of $7.00 per share, less underwriting discounts and commissions.

Watertown-based Tetraphase said in a press release that its common stock is expected to begin trading on the NASDAQ Global Market under the symbol “TTPH” on March 20.

Tetraphase has granted the underwriters a 30-day option to purchase up to 1,607,143 additional shares of common stock at the same price to cover over allotments, if any.

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Barclays and BMO Capital Markets are acting as joint book-running managers. Stifel, JMP Securities, and Needham & Company are acting as co-managers for the offering.

Tetraphase is a clinical-stage biopharmaceutical company using its proprietary chemistry technology to create novel antibiotics for serious and life-threatening multi-drug resistant infections.