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 reported $38.1 million in procurement-related revenue in December 2022, driven by a $36.4 million milestone payment from BARDA under Project BioShield. This funding supports the development of NUZYRA (omadacycline) for treating pulmonary anthrax, following positive efficacy study results showing a 100% survival rate in treated rabbits. The BARDA contract, now valued at approximately $304 million, will fund the procurement of up to 10,000 treatment courses of NUZYRA, enhancing its market position.
Paratek Pharmaceuticals (NASDAQ:PRTK) has appointed Dr. Jeffrey Stein as its first Lead Independent Director, effective December 8, 2022. This decision was made unanimously by the independent Board members to leverage Dr. Stein’s extensive leadership experience and knowledge of the anti-infective sector. Dr. Stein has been a part of Paratek since its public emergence in 2014 and currently serves as the President and CEO of Cidara Therapeutics. His new role aims to enhance governance and reflect best practices for public companies at Paratek's development stage.
Paratek Pharmaceuticals (NASDAQ: PRTK) announced a successful pilot study involving NUZYRA for treating pulmonary anthrax, achieving a 100% survival rate in infected rabbits compared to placebo controls. This success led to a $38.1 million revenue recognition from its Project BioShield Contract with BARDA, of which $36.4 million is from BARDA, and $1.7 million from deferred revenue. The contract aims to support NUZYRA’s development against biothreats and pandemics, with a total value of approximately $304 million.
On November 30, 2022, Paratek Pharmaceuticals (Nasdaq: PRTK) granted restricted stock units to a new employee under its 2017 Inducement Plan. This award covers 4,900 shares, which will vest completely after a 36-month period of employment. Paratek focuses on developing novel therapies for life-threatening diseases, with its lead product, NUZYRA®, approved for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company also has significant collaborations and potential market opportunities, including a $1 billion addressable market for NUZYRA®.
Paratek Pharmaceuticals reported a strong financial performance for Q3 2022, achieving $30.2 million in total revenue, a 24% increase year-over-year. Key growth driver was NUZYRA, generating $25.5 million in net U.S. sales, marking a 31% rise from $19.4 million in Q3 2021. The company initiated a pilot efficacy study for NUZYRA's use in treating pulmonary anthrax. Despite a net loss of $20.9 million, Paratek has a cash position of $57.0 million, expected to last through the end of 2023, supporting future growth opportunities.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the grant of stock options to four new employees on October 31, 2022. A total of 4,800 options were issued at an exercise price of $3.56 per share, with a four-year vesting schedule. This action is part of the Company's 2017 Inducement Plan to attract talent and incentivize new hires. Paratek focuses on developing therapies for life-threatening diseases, with its lead product NUZYRA® targeting bacterial infections and a Phase 2b study for nontuberculous mycobacterial disease, potentially tapping into a $1 billion U.S. market.
BOSTON, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) has announced that CEO Evan Loh will present at the Credit Suisse 31st Annual Healthcare Conference from Nov. 7-10. The presentation will be available on-demand starting Nov. 8 on the company's website. Paratek focuses on developing novel therapies for life-threatening diseases, with its lead product, NUZYRA®, approved for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company is also exploring NUZYRA for nontuberculous mycobacterial pulmonary disease.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the commercial availability of U.S.-produced NUZYRA® (omadacycline) tablets following a successful technology transfer. This marks a significant step towards establishing a U.S. supply chain for NUZYRA under the Project BioShield partnership with BARDA. The contract awarded by BARDA, valued at up to $304 million, supports the onshoring of NUZYRA's manufacturing and its development for treating pulmonary anthrax. The company is also conducting a Phase 2b study for NUZYRA in non-tuberculous mycobacterial disease, targeting a $1 billion market in the U.S.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) will host a conference call on November 3, 2022, at 4:30 p.m. ET to discuss its third-quarter 2022 financial results. Investors can access the audio webcast via the company's Investor Relations website. Paratek focuses on developing novel therapies for life-threatening diseases, with its lead product, NUZYRA® (omadacycline), treating bacterial infections. The company also has a Phase 2b study for NUZYRA in nontuberculous mycobacterial pulmonary disease, representing a potential $1 billion market in the U.S.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced new data presentations related to its antibiotic, NUZYRA (omadacycline), at IDWeek 2022. The conference will occur from October 19-23, 2022, in Washington, D.C. Key presentations include the in vitro activity of NUZYRA against resistant infections and real-world usage data. Paratek emphasizes its commitment to clinical data supporting NUZYRA's efficacy for serious infections. Additionally, the company is conducting a Phase 2b study targeting non-tuberculous mycobacterial pulmonary disease, representing a potential $1 billion market.
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