Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 (b). Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Compensation Committee of the Board of Directors of Tetraphase Pharmaceuticals, Inc. (the “Company’) elected Larry Edwards Chief Operating Officer effective March1, 2018.
Mr.Edwards, 46, has served as the Company’s senior vice president, chief commercial officer since December 2016. Prior to that Mr.Edwards served as the Company’s vice president, commercial operations from January 2016 to December 2016 and as the Company’s vice president, marketing from July 2015 to January 2016. Prior to joining the Company, from April 2014 to June 2015, Mr.Edwards served as senior director, marketing at Cubist Pharmaceuticals, a publicly traded biopharmaceutical company acquired by Merck& Co. in January 2015. Mr.Edwards previously served in various roles at Merck& Co., a publicly traded pharmaceutical company, from 1999 to April 2014, most recently serving as global marketing director, clostridium difficile and new infectious disease products. Mr.Edwards received a B.S. from Ohio University.
Based on his new role, Mr.Edwards receives an annual base salary of $400,000. Mr.Edwards is also eligible to receive an annual performance-based target cash bonus equal to 40% of his annual base salary if, in the discretion of the board of directors, annual established performance criteria are satisfied. The actual cash bonus may range from 0% to 200% of the target amount. Mr.Edwards is also eligible to receive annual equity awards, subject to approval by the board of directors or the compensation committee.Mr.Edwards did not receive any equity award in connection with his promotion.
About Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH)
Tetraphase Pharmaceuticals, Inc. (Tetraphase) is a clinical-stage biopharmaceutical company. The Company uses its chemistry technology to create antibiotics for multidrug-resistant infections. It is developing its lead product candidate, eravacycline, a fully synthetic tetracycline derivative, as a spectrum intravenous (IV) and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multidrug-resistant infections. It has developed eravacycline using its chemistry technology. The Company’s TP-271 is a fully synthetic spectrum preclinical compound that the Company developed for respiratory diseases caused by bacterial biothreat pathogens. The Company created TP-271 using its chemistry technology. In its development program for TP-271, the Company has conducted a number of in vitro, toxicology and animal studies to evaluate the efficacy of TP-271 against biothreat pathogens. It also develops TP-6076 for multidrug-resistant Gram- negative infections.
