As previously disclosed on June 24, 2020, Tetraphase Pharmaceuticals, Inc. entered into an Agreement and Plan of Merger with La Jolla Pharmaceutical Company and TTP Merger Sub, Inc. On July 28, 2020, La Jolla completed the acquisition of Tetraphase for $43.0 million upfront cash plus potential future cash payments of up to $16.0 million pursuant to contingent value rights (“CVRs”). Following the acquisition, Tetraphase became a wholly owned subsidiary of La Jolla. In accordance with the terms of the Merger Agreement, each of Leonard Patrick Gage, Larry Edwards, Garen Bohlin, Steven Boyd, Jeffrey Chodakewitz, John Freund, Gerri Henwood, Guy Macdonald, Keith Maher and Nancy Wysenski resigned from his or her respective position as a member of Tetraphase’s Board of Directors, and any committee thereof, effective at the Effective Time; Leonard Patrick Gage resigned from his position as Chairman of Tetraphase’s Board of Directors; Larry Edwards resigned from his positions as President; Maria Stahl resigned from her positions as Chief Business Officer and General Counsel; and Christopher Watt resigned from his position as Senior Vice President, Finance. Effective as of the Effective Time, Kevin Tang and Craig Johnson became members of Tetraphase’s Board of Directors; Larry Edwards became President, and “principal executive officer,” of Tetraphase; and Michael Hearne became “principal financial officer” and “principal accounting officer”.