Melinta Therapeutics to Acquire Tetraphase Pharmaceuticals
TETRAPHASE PHARMACEUTICALS INC (TTPH)
Last tetraphase pharmaceuticals inc earnings: 3/11 09:29 pm
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Source: Business Wire
Tetraphase terminates merger agreement with AcelRx to enter into merger agreement with MelintaMelinta agreement provides for an aggregate of $39.0 million upfront in cash plus potential contingent value rights cash payments of up to $16.0 millionAcquisition Expected to Close in early Q3 2020 WATERTOWN, Mass.--(BUSINESS WIRE)--Tetraphase Pharmaceuticals, Inc. (Nasdaq: TTPH), a biopharmaceutical company focused on commercializing its novel tetracycline XERAVA™ to treat serious and life-threatening infections, today announced that it has entered into a definitive merger agreement with Melinta Therapeutics, Inc. (“Melinta”), pursuant to which Melinta would acquire Tetraphase, through a tender offer, for an aggregate of $39.0 million in cash, plus an additional $16.0 million in cash potentially payable under contingent value rights (“CVRs”) to be issued in the proposed acquisition. The Board of Directors of Tetraphase unanimously recommends that stockholders tender their shares in the M
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