SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* FERRANTE DOMENIC J (Last) (First) (Middle) C/O BROOKSIDE CAPITAL, LLC 111 HUNTINGTON AVENUE (Street) BOSTON MA 02199 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Targanta Therapeutics Corp. [ TARG ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 10/15/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/15/2007		P		575,000(1)	A	$10	575,000	I	See Footnote(2)
Common Stock	10/15/2007		C		2,092,987	A	$0(3)	2,667,987	I	See Footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series C-3 Convertible Preferred Stock	$0(3)	10/15/2007		C			82,956	(4)	(5)	Common Stock	2,092,987	$0.00	0	I	See Footnote(2)
Warrant to Purchase Series C-1 Preferred Stock	$13.06(3)	10/15/2007		C			82,956	(4)	(6)	Common Stock	103,695	$10.45	0	I	See Footnote(2)
Warrant to Purchase Common Stock	$10.45(3)	10/15/2007		C		103,695		(4)	(6)	Common Stock	103,695	$10.45	103,695	I	See Footnote(2)

1. Name and Address of Reporting Person* FERRANTE DOMENIC J (Last) (First) (Middle) C/O BROOKSIDE CAPITAL, LLC 111 HUNTINGTON AVENUE (Street) BOSTON MA 02199 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BROOKSIDE CAPITAL MANAGEMENT LLC (Last) (First) (Middle) 111 HUNTINGTON AVENUE (Street) BOSTON MA 02199 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BROOKSIDE CAPITAL INVESTORS L P (Last) (First) (Middle) 111 HUNTINGTON AVENUE (Street) BOSTON MA 02199 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BROOKSIDE CAPITAL PARTNERS FUND LP (Last) (First) (Middle) 111 HUNTINGTON AVENUE (Street) BOSTON MA 02199 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. On October 9, 2007, Brookside Capital Partners Fund, L.P. ("Brookside") purchased 575,000 shares of Common Stock in connection with the Issuer's initial public offering. This purchase settled upon closing of the Issuer's public offering on October 15, 2007.

2. Brookside Capital Investors, L.P. ("BCI LP"), is the sole general partner of Brookside. Brookside Capital Management, LLC ("BCM"), is the sole general partner of BCI LP. Mr. Domenic J. Ferrante is the sole managing member of BCM. By virtue of these relationships, BCI LP, BCM and Mr. Ferrante may each be deemed to beneficially own the securities held by Brookside. BCI LP, BCM and Mr. Ferrante disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.

3. Each outstanding share of Series C-1 Preferred Stock and Series C-3 Preferred Stock automatically converted into 1.25 shares of common stock upon the closing of the Issuer's initial public offering.

4. Immediately exercisable.

5. Not applicable.

6. The fifth anniversary of the closing of the issuer's initial public offering (i.e. October 15, 2012).

	/s/ Domenic J. Ferrante	10/17/2007
	** Signature of Reporting Person	Date
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