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Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) is an innovative biopharmaceutical company dedicated to developing transformative treatments for patients, especially those suffering from difficult-to-treat infectious diseases. The company's key focus is on creating drugs that address unmet medical needs, particularly where current treatments are ineffective.
Paratek's lead product, NUZYRA® (omadacycline), is a novel, once-daily antibiotic available in both oral and intravenous forms. NUZYRA is approved in the United States for treating community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI). This modernized tetracycline is designed to combat antibiotic resistance and is effective against a wide range of Gram-positive, Gram-negative, and atypical bacteria.
Among its recent achievements, Paratek has received orphan drug designation in the European Union for NUZYRA as a potential treatment for non-tuberculous mycobacterial (NTM) lung disease. This designation provides significant benefits, including market exclusivity for ten years upon approval, protocol assistance, and potential fee reductions.
Additionally, Paratek is actively engaged in a Phase 2b study for NUZYRA in treating NTM pulmonary disease caused by Mycobacterium abscessus, which represents a potential $1 billion market in the United States. The company is also exploring partnerships to develop and commercialize NUZYRA in Japan and Europe.
Another key project is Paratek's collaboration with the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority (BARDA). This contract, valued at up to $304 million, supports the development of omadacycline for pulmonary anthrax and the U.S.-based production of NUZYRA.
Paratek exclusively licensed U.S. and greater China rights for SEYSARA® (sarecycline), an oral therapy for severe acne, to Almirall, LLC, retaining development and commercialization rights for the rest of the world.
Financially, Paratek reported $40 million in revenue for Q2 2023, up from $29.6 million in the same period the previous year. However, the company faces challenges, including a net loss of $14.6 million for the quarter and substantial doubt about its ability to continue as a going concern if a proposed merger with Gurnet Point Capital and Novo Holdings A/S does not proceed. This acquisition is valued at approximately $462 million, including debt assumption, and is expected to close in the third quarter of 2023.
For more information about Paratek Pharmaceuticals, visit www.ParatekPharma.com or follow them on LinkedIn and Twitter.
BOSTON, Nov. 12, 2020 – Paratek Pharmaceuticals (Nasdaq: PRTK) announced its presentation at the 2020 Jefferies Virtual London Healthcare Conference on November 19, 2020, at 11:25 a.m. ET. The live webcast can be accessed here. Paratek focuses on developing life-saving therapies, with NUZYRA® approved for treating pneumonia and skin infections. The company has a $285 million contract with BARDA to support NUZYRA's development against biothreats and retains rights for its other antibiotic, SEYSARA®, outside the U.S. and China.
Paratek Pharmaceuticals reported third-quarter 2020 net product revenue of $10.9 million, marking a 35% increase from the prior quarter and a 252% increase year-over-year. Total revenue reached $13.7 million, up 47% quarter-over-quarter and 251% year-over-year. The company anticipates full-year revenue to be at the higher end of the $78 to $83 million range, driven by strong NUZYRA trends. R&D and SG&A expenses are projected at $120 million. Paratek's cash position at quarter-end was $149.5 million, expected to sustain operations through 2023.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the granting of stock options and restricted stock units to two new employees on October 30, 2020. The stock options cover 2,500 shares at an exercise price of $4.77, vesting over four years, while 950 restricted stock units will vest after 36 months. These grants were made under the 2017 Inducement Plan approved by the company's board. Paratek focuses on developing life-saving therapies, with products like NUZYRA, an antibiotic for bacterial infections, and SEYSARA, for acne treatment.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) is set to host a conference call on November 5, 2020, at 4:30 p.m. EST to discuss its Q3 2020 financial results and provide a corporate update. Investors can access the call via a live audio webcast on the company’s website. Paratek focuses on novel therapies for life-threatening diseases and has products like NUZYRA® and SEYSARA®, with significant collaborations in the wider China region. The company also received government support for NUZYRA's development against pulmonary anthrax.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the presentation of NUZYRA data at IDWeek 2020, highlighting its efficacy as an antibiotic for infections such as community-acquired bacterial pneumonia and acute bacterial skin infections. Key studies showcased the drug’s potential to reduce risks of Clostridioides difficile infections and its real-world use against challenging infections. Presentations feature significant in vitro activity data against various bacteria, underscoring NUZYRA’s role in treating multi-drug resistant infections.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced its participation in the H.C. Wainwright 22nd Annual Global Investment Conference on September 14, 2020, at 5:00 p.m. ET. The company focuses on developing life-saving therapies for critical health threats. Its lead product, NUZYRA, is an antibiotic for treating pneumonia and skin infections. Paratek also collaborates with Zai Lab and Almirall for the commercialization of omadacycline and sarecycline, respectively. A live webcast of the presentation will be available, with a replay accessible for 90 days.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced on August 31, 2020, the granting of stock options and restricted stock units to two new employees. Under the 2017 Inducement Plan, 6,250 stock options with an exercise price of $4.60 will vest over four years. Additionally, 3,750 restricted stock units will vest after 36 months. Paratek specializes in developing innovative therapies for severe diseases, with products like NUZYRA for bacterial infections and SEYSARA for acne treatment. The company aims to address public health threats through its pipeline and collaborations.
Paratek Pharmaceuticals (Nasdaq: PRTK) has announced its participation in two upcoming healthcare conferences: the BTIG Biotechnology Conference on August 11, 2020, at 11:30 a.m. ET, and the 2020 Wedbush PacGrow Healthcare Virtual Conference on August 12, 2020, at 2:55 p.m. ET. Live webcasts of both presentations will be accessible through their respective links. Paratek is dedicated to developing novel therapies for serious diseases and promotes its lead product, NUZYRA®, an antibiotic for bacterial infections.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) will host a conference call on August 10, 2020, at 8:30 a.m. EDT to report its Q2 2020 financial results and provide a corporate update. Investors can access the call via the company's Investor Relations section on their website or through direct dialing. Paratek's lead product, NUZYRA (omadacycline), is an antibiotic used for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company also has a collaboration with Zai Lab for omadacycline in China and has licensed SEYSARA (sarecycline) rights to Almirall.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) has scheduled its virtual 2020 Annual Meeting of Stockholders for June 10, 2020, at 9:00 a.m. Eastern Time. Stockholders can attend online using a control number found in proxy materials. Paratek focuses on developing life-saving therapies, with its lead product NUZYRA® for treating bacterial infections. The company is collaborating with Zai Lab for NUZYRA® in China and holds rights to SEYSARA® for moderate to severe acne, licensed to Almirall. Paratek received a BARDA contract in 2019 to develop NUZYRA® for pulmonary anthrax.
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