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 (Nasdaq: PRTK) announced on September 30, 2022, the granting of stock options and restricted stock units to twenty new employees. The stock options allow acquisition of 27,600 shares at an exercise price of $2.57, vesting over four years. Additionally, 32,100 shares in restricted stock units will vest after 36 months. This is part of the 2017 Inducement Plan approved by the board to attract employees. Paratek focuses on developing therapies for serious diseases and markets NUZYRA® and SEYSARA® for treating bacterial infections and acne, respectively.
Paratek Pharmaceuticals will host an investor webinar on October 3, 2022, from 10:30 a.m. to noon ET, to discuss the global opportunity for NUZYRA® (omadacycline) in treating non-tuberculous mycobacteria (NTM). CEO Evan Loh and COO Randy Brenner will cover market insights and scientific updates, including a Phase 2b study in patients with NTM pulmonary disease. Featured speakers include Dr. Patrick Flume and Dr. Jakko van Ingen, who will address NTM challenges in the U.S. and globally. The webinar will be available for on-demand viewing until April 3, 2023.
On August 31, 2022, Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the granting of stock options to a new employee. This award, totaling 3,400 shares at an exercise price of $2.51, is part of its 2017 Inducement Plan and is aimed at attracting talent. The options will vest over four years, with an initial 25% vesting after 12 months. Paratek focuses on developing therapies for severe diseases, with its lead product, NUZYRA®, approved for treating bacterial infections. The company is also engaged in a Phase 2b study for a rare disease, estimating a $1 billion market potential.
BOSTON, Sept. 01, 2022 – Paratek Pharmaceuticals (Nasdaq: PRTK) announced President Adam Woodrow will speak at the H.C. Wainwright 24th Annual Global Investment Conference from Sept. 12-14. The conference will feature a virtual fireside chat accessible on-demand starting Sept. 12 at 7 a.m. ET. Paratek specializes in developing life-saving therapies, with its lead product NUZYRA® approved for treating bacterial pneumonia and skin infections. The company also conducts a Phase 2b study for NUZYRA targeting non-tuberculous mycobacterial pulmonary disease, estimating a $1 billion market opportunity.
Paratek Pharmaceuticals reported Q2 2022 financial results, showing total revenue of $29.6 million, a significant rise from $19.6 million year-over-year. The core commercial business for NUZYRA generated $25.1 million in net U.S. sales, up 68% from the prior period. Despite this growth, the company reported a net loss of $17.6 million, or $(0.33) per share. Paratek anticipates its cash reserves of $69.4 million will sustain operations through the end of 2023. The FDA granted Fast Track designation for NUZYRA in treating Non-Tuberculous Mycobacteria (NTM), further enhancing its product pipeline.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options to 14 new employees on July 29, 2022. The options, totaling 17,200 shares, have an exercise price of $2.29, aligning with the closing sales price on that date. The options will vest over four years, commencing with 25% after 12 months. Paratek is focused on developing life-saving therapies, with its lead product, NUZYRA®, approved for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company is also conducting a Phase 2b study for nontuberculous mycobacterial pulmonary disease.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) will host a conference call and webcast on Aug. 3, 2022, at 4:30 p.m. ET to discuss its Q2 2022 financial results. Investors can access the event via the company’s website. Paratek focuses on developing life-saving therapies, including its lead product NUZYRA® (omadacycline) for bacterial infections. The company also conducts a Phase 2b study for NUZYRA in nontuberculous mycobacterial pulmonary disease, which represents a potential $1 billion market. Paratek has a BARDA contract valued at up to $304 million for NUZYRA's development.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the granting of stock options and restricted stock units to 33 new employees on June 30, 2022. Under the 2017 Inducement Plan, a total of 28,800 stock options and 96,200 restricted stock units were awarded. The stock options have an exercise price of $1.93 and vest over four years, while the restricted stock units will vest fully after 36 months. The awards are part of the company’s strategy to incentivize employee retention and growth.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced that the FDA granted Fast Track designation for NUZYRA® (omadacycline) for treating pulmonary Nontuberculous Mycobacterial (NTM) disease caused by Mycobacterium avium complex (MAC) and Mycobacterium abscessus (MAB). This designation allows for expedited development and review, addressing significant unmet medical needs. Currently, NTM infections affect approximately 111,500 patients in the U.S. alone. Paratek is conducting a Phase 2b study with about 75 patients enrolled to assess the safety and efficacy of NUZYRA.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options and restricted stock units to twelve new employees on May 31, 2022. The options total 5,200 shares at an exercise price of $1.89, vesting over four years. Additionally, 78,200 restricted stock units will vest after 36 months of employment. These grants align with Paratek's 2017 Inducement Plan, supporting employee retention and recruitment. The company focuses on developing life-saving therapies, including NUZYRA for bacterial infections and SEYSARA for acne vulgaris.
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