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 that CEO Evan Loh will participate in a fireside chat at the Jefferies Healthcare Conference on June 9, from 3:30 to 3:55 p.m. ET in New York City. The session will be available for on-demand viewing starting June 9 on their website. Paratek specializes in developing novel therapies for life-threatening diseases and is known for its lead product, NUZYRA, an antibiotic used to treat bacterial pneumonia and skin infections. The company also explores treatments for rare diseases, with potential market opportunities exceeding $1 billion.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced that CEO Evan Loh will join a virtual fireside chat at the H.C. Wainwright Global Investment Conference, taking place from May 23-26, 2022, in Miami Beach, Florida. The event will be available for on-demand viewing starting May 24 at 7:00 a.m. ET for 90 days. Paratek specializes in developing therapies for life-threatening diseases, including the antibiotic NUZYRA® (omadacycline) for bacterial infections and ongoing studies for rare diseases. The company is also involved in significant collaborations for global market expansion.
Paratek Pharmaceuticals reported strong financial results for Q1 2022, with total revenue of $24.9 million, representing a 51% year-over-year increase. The core commercial business for NUZYRA® (omadacycline) generated net U.S. sales of $19.9 million, up from $13.2 million a year prior. The company continues to expand its market presence and has seen increased Medicare coverage, now covering nearly 60% of beneficiaries. R&D expenses rose to $7.5 million, primarily due to BARDA contract activities. Despite a net loss of $17.9 million, Paratek expects a cash runway through 2023.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced on April 29, 2022, the granting of stock options to a new employee under its 2017 Inducement Plan. The awarded options, amounting to 6,000 shares with an exercise price of $2.21, will vest over four years. Paratek focuses on developing life-saving therapies, with its key product NUZYRA® approved for treating severe bacterial infections. The company also holds a BARDA contract valued at approximately $304 million for developing NUZYRA for pulmonary anthrax.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced a conference call on May 4, 2022, at 4:30 p.m. ET to discuss its first-quarter 2022 financial results. The call will be accessible via the company's website. Paratek is focused on developing novel therapies for critical diseases. The lead product, NUZYRA (omadacycline), is an antibiotic for community-acquired bacterial pneumonia (CABP) and skin infections. Paratek is also advancing a Phase 2b study for NUZYRA targeting a $1 billion market in nontuberculous mycobacterial pulmonary disease. The company retains substantial global rights to its products.
Paratek Pharmaceuticals (PRTK) announced on March 31, 2022, the granting of stock options and restricted stock units to ten new employees. The stock options cover 18,000 shares at a price of $2.97, vesting over four years. Additionally, 30,000 restricted stock units will vest after a 36-month period. This grant follows the Paratek 2017 Inducement Plan approved by the board. Paratek focuses on developing therapies for serious diseases, with its main product, NUZYRA®, aimed at treating bacterial infections and a potential $1 billion market in NTM pulmonary disease.
Paratek Pharmaceuticals reported significant growth in 2021, with NUZYRA generating net U.S. sales of $106.1 million, a 173% increase from 2020. The core commercial business contributed $68.2 million, showing a 76% year-over-year growth. The company achieved total revenue of $130.2 million, up from $46.9 million in 2020. However, it reported a net loss of $59.1 million, though this was less than the previous year's loss of $96.5 million. Looking ahead, Paratek expects 2022 revenue between $155 million and $170 million.
Paratek Pharmaceuticals has announced positive results from an investigator-initiated study showcasing the efficacy of NUZYRA® (omadacycline) against Mycobacterium avium complex (MAC) pulmonary infections. Conducted by Chapagain et al., the study found NUZYRA demonstrated considerable potency at standard clinical doses, suggesting it could serve as a viable treatment option against MAC infections. The company plans to conduct further research to validate these findings. Additionally, Paratek is advancing a Phase 2b study of NUZYRA for NTM pulmonary disease, estimating a potential $1 billion market in the U.S.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced a conference call on March 14 at 8:30 a.m. EST to provide a corporate update and discuss its fourth quarter and full year 2021 financial results. Investors can access the live audio webcast on the company's website. Paratek is focused on developing life-saving therapies, including its lead product NUZYRA, which targets community-acquired bacterial pneumonia and acute bacterial skin infections. The company also has a collaboration with Zai Lab in China and is exploring opportunities in treating nontuberculous mycobacterial pulmonary disease, estimated at a $1 billion market.
On February 28, 2022, Paratek Pharmaceuticals (Nasdaq: PRTK) announced the granting of stock options and restricted stock units to six new employees. The stock options allow for the acquisition of 18,600 shares at an exercise price of $3.52, vesting over four years. Additionally, 18,900 restricted stock units will vest after 36 months. These grants are part of the 2017 Inducement Plan, aimed at incentivizing new hires. Paratek develops therapies for serious diseases, with products like NUZYRA and SEYSARA, and has an ongoing study for NTM pulmonary disease with a potential market of $1 billion.
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