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Pharmaceuticals

Antibiotic maker Tetraphase goes cheap

by Ryan Cross
March 21, 2020 | A version of this story appeared in Volume 98, Issue 11
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AcelRx Pharmaceuticals, an opioid-drug maker, is buying Tetraphase Pharmaceuticals for a mere $14.4 million. Tetraphase sells Xerava, a tetracycline antibiotic administered via injection to treat multidrug-resistant infections. When Xerava was approved in August 2018, the firm’s stock rose to more than $70 a share; earlier this month it was trading for less than $1. Tetraphase has amassed losses of $600 million and sold only $3.6 million worth of Xerava in 2019.

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