Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) Q3 2018 Earnings Conference Call - Final Transcript

Nov 08, 2018 • 04:30 pm ET


Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) Q3 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Tetraphase Pharmaceuticals Third Quarter Financial Results and Corporate Update. (Operator Instructions) As a reminder, today's conference call is being recorded.

I would now like to turn the call over to Jennifer Viera. Ms. Viera, you may begin.

Jennifer Viera

Good afternoon, and thank you for joining us today. With me on the call today are: President and CEO, Guy MacDonald; COO, Larry Edwards; Chief Medical Officer, Dr. Larry Tsai; and SVP of Finance, Chris Watt. On the call today, Guy will make introductory remarks. Larry will provide an overview of the XERAVA launch, Dr. Tsai will discuss the pipeline in recent data presentations, Chris will provide an overview of our third quarter financial results and then Guy will conclude. We will then open the call for your questions.

(Forward-Looking Cautionary Statement)

I would now like to turn the call over to Guy MacDonald. Guy?

Guy MacDonald

Thank you, Jennifer, and the good afternoon to everyone. The past quarter has been the most exciting in the history of Tetraphase. Today is the first time we're speaking with you as a commercial company after receiving regulatory approval for XERAVA in two major markets and launching XERAVA in the United States. Two major approvals within one month is quite an accomplishment for any biotechnology company, especially for one of our size. In October, the company commercially launched XERAVA here in the US, and it is now available for use in hospitals for the treatment of patients with empiric and confirmed complicated intra-abdominal infection, or cIAI.

XERAVA's launch came just weeks after the FDA approval of XERAVA in late August for the treatment of cIAI. The approval was based on two Phase III clinical studies that show XERAVA was well-tolerated and achieved high clinical cure rates in patients with cIAI, demonstrating statistical non-inferiority to two widely used comparators, ertapenem and meropenem. In September, the European Medicines Agency or EMA granted marketing authorization for XERAVA for the treatment of cIAI in adults in all EU member states as well as Iceland, Liechtenstein and Norway.

I'm pleased to report the commercial launch in the US is off to a productive start. As Larry Edwards will discuss in his remarks, our sales force is engaging with priority accounts and are already making significant inroads. Our October launch came just days after IDWeek, during which we spoke with many infectious disease doctors and key opinion leaders. We were especially pleased that the benefits of XERAVA resonate well with them. In particular, XERAVA's open label, which is not restricted to patients with limited or no other treatment options, is highly appealing as is the fact that XERAVA has a positive safety and tolerability profile with no black box warning.

We also had a positive response at of IDWeek and at other recent scientific conferences regarding our data presentations on XERAVA, which Dr. Tsai will discuss shortly. Beyond XERAVA, we also advanced our phasal and antibiotic programs, TP-271 and TP-6076, and both have progressed through single