Tetraphase Pharmaceuticals Inc., a clinical-stage biopharmaceutical company in Watertown, announced in a Monday press release that it was added to the Russell 3000, Russell 2000, and Russell Global Indexes when the Russell Investment Group reconstituted its family of US indexes after stock market close on June 28, 2013.
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization.
Tetraphase Pharmaceuticals is developing a portfolio of potent new antibiotics designed to be effective against dangerous, drug-resistant bacteria, including multidrug-resistant gram-negative pathogens.
Tetraphase’s lead product candidate, eravacycline, is a fully synthetic tetracycline derivative being developed as a broad-spectrum intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multi-drug resistant infections
‘‘Tetraphase has built meaningful value in its antibiotic franchise, and we are pleased to be included in the Russell Indexes only three months following our initial public offering,’’ Guy Macdonald, Tetraphase president and CEO, said in a statement. ‘‘We expect that being included in the broadly referenced Russell Indexes will add important liquidity to our stock by attracting the many index funds that reference them.’’