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Tetraphase floats IPO at $7 after two price cuts

This article was originally published in Scrip

Executive Summary

After a series of price reductions, antibiotic developer Tetraphase Pharmaceuticals launched its initial public offering on 20 March with 10.7 million shares priced at $7 each for gross proceeds of $75 million plus another $11.3 million possible from the sale of 1.6 million shares offered to underwriters over the next 30 days.

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