 The bidding war for Tetraphase Pharmaceuticals Inc NASDAQ: TTPH seems to be far from over.What Happened: Tetraphase announced Monday that La Jolla Pharmaceutical Company NASDAQ: LJPC has approached the company with an unsolicited acquisition proposal for 43 million in cash, plus an additional aggregate amount of 16 million in cash, potentially payable under contingent value rights issued in the transaction.Tetraphase markets Xerava, an antibiotic for treating complicated intra-abdominal infections. After Tetraphase signed an agreement to be acquired by AcelRx Pharmaceuticals Inc NASDAQ: ACRX, La Jolla jumped into the fray in early May, with an offer amounting to 22 million in cash and 12.5 million in CVRs.Subsequently, privately held Melinta Therapeutics also joined the race, and surprisingly La Jolla stayed away.After AcelRx and Melinta fought it out with bids and counter-bids, Tetraphase terminated its agreement with AcelRx June 4,and executed a merger agreement with Melinta, which had offered 43 million in cash and 16 million in CVRs.Even as the bidding war seemed to have ended, La Jolla has re-entered the fray.Whats Next: With Tetraphases board deeming La Jollas offer a superior one, the company said it has given notice to Melinta regarding its intention to change its recommendation unless Melinta revises its offer on or before June 26.TTPH, LJPC Price Action: At last check, Tetraphase shares were adding 1.52 to 2.67, while La Jolla was slipping 3.77 to 5.11. Related Links:The Week Ahead In Biotech: Karyopharm, Zogenix, Heron, Chiasma On The Radar Ahead Of FDA Decisions Novavax Beefs Up Executive Team As It Sprints In The Coronavirus Vaccine Race See more from Benzinga The Daily Biotech Pulse: Keytruda Setback For Merck, Denali Pulls The Plug On Neurological Asset The Daily Biotech Pulse: Positive Readout For Kezar, AstraZeneca Stitches Oncology Partnership, D-Day For Mercks Triple Combo Antibiotic The Daily Biotech Pulse: FDA Nod For Roches Combo Therapy In Liver Cancer, Allena Rips Higher, Pfizer To Invest Up To 0M In BiotechsC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 