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, Larry Edwards resigned from his position as Chief Executive Officer.