Welcome to our dedicated page for Paratek Pharmaceuticals news (Ticker: PRTK), a resource for investors and traders seeking the latest updates and insights on Paratek Pharmaceuticals stock.
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.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced that new data on NUZYRA® (omadacycline) will be presented at the European Congress of Clinical Microbiology & Infectious Diseases (ECCMID) from April 15-18, 2023, in Copenhagen, Denmark. This presentation aims to enhance understanding of NUZYRA’s utility in treating life-threatening infections. Key presentations include studies on microbiome diversity, activity against multi-drug resistant pathogens, and safety in non-tuberculous mycobacteria infections. Paratek is also involved in a Phase 2b study targeting non-tuberculous mycobacterial pulmonary disease, which could represent a $1 billion market opportunity in the U.S. Furthermore, the company collaborates with Zai Lab for NUZYRA commercialization in China while retaining global rights. The upcoming presentations are expected to solidify NUZYRA's role in addressing unmet medical needs.
Paratek Pharmaceuticals reported strong financial results for 2022, with total revenue of $160.3 million, up 23% from 2021. The significant growth was driven by NUZYRA® (omadacycline), which generated $136.8 million in net U.S. sales, a 29% increase year-over-year. Notably, core commercial business sales rose by 45% to $98.7 million. Fourth-quarter revenues reached $75.6 million, with NUZYRA sales at $66.4 million, reflecting a 221% growth. The company continues to advance its Phase 2b study for NTM pulmonary infections and progress on the BARDA BioShield program for anthrax. Paratek expects 2023 revenue between $143 million and $158 million.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced a conference call on March 16, 2023, at 8:30 a.m. EST to discuss its financial results for Q4 and the full year 2022. The audio webcast will be available on the company's Investor Relations website. Paratek's main product, NUZYRA® (omadacycline), is an antibiotic for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company is also involved in a Phase 2b study for nontuberculous mycobacterial pulmonary disease and has a $304 million contract with BARDA to support NUZYRA development for pulmonary anthrax.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced on February 28, 2023, the granting of stock options and restricted stock units to four new employees. The stock options allow for the purchase of 3,600 shares at an exercise price of $1.75, vesting over four years. The restricted stock units total 7,000 shares, vesting after a 36-month period. These grants are part of the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan aimed at encouraging new hires. Paratek focuses on developing therapies for life-threatening diseases, with its lead product NUZYRA® targeting bacterial infections. The company also holds a significant BARDA contract valued at up to $304 million.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced on January 31, 2023, the granting of stock options to four new employees as part of its 2017 Inducement Plan. A total of 4,800 shares will be available at an exercise price of $2.17, with a four-year vesting schedule. Paratek focuses on developing life-saving therapies, including NUZYRA® (omadacycline), which treats bacterial pneumonia and skin infections. The company also explores NTM pulmonary disease treatment opportunities, projecting a $1 billion addressable market. Paratek maintains rights for SEYSARA® (sarecycline) in the rest of the world, having licensed U.S. and greater China rights to Almirall.
Paratek Pharmaceuticals announced that its antibiotic NUZYRA (omadacycline) has been included in China's National Reimbursement Drug List (NRDL) for treating community-acquired bacterial pneumonia (CABP) and acute bacterial skin infections. This addition enhances accessibility for millions of patients and addresses the urgent issue of antimicrobial resistance. The drug was FDA-approved in October 2018, with a U.S. launch in February 2019. Paratek's collaboration with Zai Lab further strengthens its market position in China, where NUZYRA is recognized as a significant innovative treatment.
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