Shots:

• Under the amended agreement- AcelRx to acquire Tetraphase for $30M ($24.6M in stock and $5.4M in cash) with an additional $14.5M in CVRs- payable in cash. The transaction is expected to close following the Tetraphase's stockholder meeting- currently set for Jun 08- 2020
• Tetraphase will receive $0.2434 in cash/ share of Tetraphase common stock and 0.7217 shares of AcelRx common stock- representing ~ $1.34 in upfront/ share- based AcelRx closing share price on May 22- 2020- and one CVR entitling the Tetraphase to receive up to $14.5M in cash upon the achievement of certain milestones on Xereva’s sales- starting in 2021
• Companies reported that there will be no changes in their co-promotion agreement for Xerava and Dsuvia to treat cIAI and acute pain in medically supervised settings to generate significant commercial synergies respectively

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Related News: AcelRx to Acquire Tetraphase Pharmaceuticals to Expand its Product Portfolio