Biotech Tetraphase Pharmaceuticals files for a $86 million IPO

Tetraphase Pharmaceuticals, a biotech creating antibiotics to treat life-threatening multi-drug resistant infections, filed on Tuesday with the SEC to raise up to $86 million in an initial public offering. The Watertown, MA-based company, which booked $5 million in contract and grant revenue for the 12 months ended 9/30/2012, plans to list on the NASDAQ under the symbol TTPH. Barclays and BMO Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.