Started enrollment, started dosing, potato po tat toe. Basically, still means no results until late next year after they compile enough data and analyze it.
Sorry, I'm using my phone, so I can't edit this better, but see the quote below from the most recent 10Q then scroll down farther for a quote from an older 10Q and you'll hopefully see the reason why I hesitate to believe they'll have enough money to finish these new additional trials and may need to raise additional funds in the future. They're losing money every quarter, expected to have FDA approval already, and are now having to fund additional trials using the money they previously had hoped to use to put eravacycline on the market on their own. Now, it's either raise funds again in the future, or they'll be forced into some agreement with a larger biotech to partner with to get the drug to market, which will ultimately make the end result less profitable for them.
....... see this, most recent .....
As of June 30, 2016, Tetraphase had cash and cash equivalents of $178.3 million and 36.7 million shares outstanding. The company expects that its cash and cash equivalents, as well as expected revenue from its U.S. government awards, will be sufficient to fund operations into the middle of 2018
....... now see this from last year....
As of September 30, 2015, Tetraphase had cash and cash equivalents of $222.5 million and 36.5 million shares outstanding. The company expects that its cash and cash equivalents, as well as expected revenue from its U.S. government awards, will be sufficient to fund operations into at least the first half of 2017.
....... notice the ..... first half of 2017 part. That was before they realized all these additional trials would be needed. Yet some magical way they figure that with less money, they can now fund these new trials and last even longer? The math doesn't work there.
Don't get me wrong, this is still a very lucrative drug that can be very valuable for this company. I'm just pointing out what I assume the market also sees and is why they're valuing this stock where it's currently trading.
