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.
On February 1, 2022, Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the grant of stock options to six new employees. These options, totaling 7,200 shares, have an exercise price of $4.05, reflecting the January 31, 2022 closing price. The options will vest over four years, with 25% vesting after the first year. Paratek focuses on developing therapies for life-threatening diseases. Its primary product, NUZYRA®, treats bacterial infections, while ongoing studies target additional opportunities in rare diseases.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the granting of stock options and restricted stock units to two new employees on December 31, 2021. The awards include stock options for 6,900 shares at an exercise price of $4.49 and restricted stock units for 13,200 shares, with different vesting schedules over four and thirty-six months respectively. This is part of the Paratek Pharmaceuticals 2017 Inducement Plan approved by its board. The company focuses on developing therapies for life-threatening diseases, with its lead product being NUZYRA®.
Paratek Pharmaceuticals announced a $6 million milestone payment following the approval of NUZYRA (omadacycline) by the National Medical Products Administration (NMPA) in China for treating community-acquired bacterial pneumonia (CABP) and acute bacterial skin infections.
Paratek has an exclusive license agreement with Zai Lab for the commercialization of NUZYRA in Greater China, retaining all global rights. The company continues to expand its product's global presence while battling antimicrobial resistance.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the grant of stock options to ten new employees, totaling 12,000 shares at an exercise price of $4.22. The options will vest over four years, with 25% vesting after the first year. This action is part of the company's 2017 Inducement Plan aimed at attracting talent. Paratek is focused on developing therapies for critical diseases, including its lead product NUZYRA® for bacterial infections, and is exploring opportunities in rare diseases with a potential market of $1 billion.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announces that CEO Evan Loh will present at the 2021 Jefferies London Healthcare Conference. The on-demand presentation will be available from Nov. 18 at 3 a.m. EST to Nov. 19 at 12 p.m. EST. Paratek's lead product, NUZYRA (omadacycline), is an antibiotic for treating community-acquired bacterial pneumonia and acute bacterial skin infections. The company is also advancing a Phase 2b study for NUZYRA in nontuberculous mycobacterial pulmonary disease, targeting a potential $1 billion market in the U.S.
Paratek Pharmaceuticals reported a significant 30% increase in U.S. sales of NUZYRA, totaling $19.4 million for Q3 2021. Total revenue reached $24.4 million, with a net loss of $18.2 million, reducing year-over-year losses. The Biomedical Advanced Research and Development Authority (BARDA) expanded its contract, now valued at $304 million, to include anthrax treatment development. Additionally, the company enrolled the first patient in a Phase 2b study for NTM abscessus, with a potential market of $1 billion. Financial guidance remains optimistic, projecting revenues at the higher end of previous estimates.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) will host a conference call on Nov. 8, 2021, at 4:30 p.m. EST to present Q3 financial results and corporate updates. The company's primary product, NUZYRA®, is a novel antibiotic for treating community-acquired bacterial pneumonia and skin infections. Paratek estimates a $1 billion market potential for NUZYRA in treating NTM pulmonary disease. Additionally, the firm has a collaboration with Zai Lab for omadacycline in China and retains global rights. The company has received a $304 million contract from BARDA for NUZYRA's development against pulmonary anthrax.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the granting of stock options to thirteen new employees on October 29, 2021. These options total 13,600 shares at an exercise price of $5.02 each, vesting over four years. Additionally, 6,900 shares of restricted stock units will vest after 36 months. Paratek focuses on developing therapies for life-threatening diseases, with its key product, NUZYRA®, used for treating bacterial infections. The company also has a contract with BARDA valued at up to $304 million for NUZYRA's development for pulmonary anthrax.
Paratek Pharmaceuticals (PRTK) has commenced a Phase 2b study to assess the safety and efficacy of NUZYRA (omadacycline) for treating nontuberculous mycobacterial (NTM) pulmonary disease caused by Mycobacterium abscessus complex. This condition currently lacks FDA-approved treatments, affecting approximately 11,500 patients in the U.S. The study aims to enroll around 75 patients over two years, focusing on symptom improvement and safety. Paratek estimates this opportunity represents a potential $1 billion market in the U.S.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced on September 30, 2021, the granting of stock options to five new employees. This is part of the 2017 Inducement Plan, approved by the board, aimed at attracting talent. The total stock options amount to 9,700 shares at an exercise price of $4.86, vesting over four years. Additionally, 9,600 restricted stock units will vest after 36 months. Paratek is focused on life-saving therapies, including its commercial product NUZYRA for CABP and ABSSI, and has expanded its contract with BARDA to support the development of NUZYRA for pulmonary anthrax.
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