Tetraphase Pharmaceuticals (TTPH) posts its first earnings release after its IPO debut in April, coming in mixed for the quarter.
Q2 revenue beat, but results came in shy of estimates on a per share basis.
Revenues for the period consisted of contract and grant revenue under three U.S. government awards for the development of compounds as potential counter measures for treating bacterial bio-threat pathogens through subcontracts and a sub-award from its collaborator, CUBRC Incorporated.
R&D expenses grew, largely due to an increase in expenses related to activities under our subcontracts with CUBRC, as well as an increase in clinical costs associated with the Phase 3 program and the Phase 1 oral PK program for eravacycline.
Shares -1% AH.