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 has secured an additional ~$19 million from BARDA, increasing the contract value to ~$304 million for the development of NUZYRA (omadacycline) in treating pulmonary anthrax. This funding supports a supplemental new drug application for post-exposure prophylaxis and treatment as part of a comprehensive program. The company is anticipating positive data from ongoing studies by H2 2022 and expects cash runway to last until the end of 2023, with a goal of cash flow break-even.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the presentation of data from its NUZYRA® (omadacycline) programs at IDWeek 2021, showcasing its effectiveness against pneumonia and skin infections. Highlights include how NUZYRA addresses serious community-acquired infections and its potential use against anthrax. Two investigator-led studies will also be presented, focusing on preventing Clostridioides difficile relapse and real-world efficacy against nontuberculous mycobacterial infections. The company continues to explore NUZYRA's market potential, which could reach $1 billion in the U.S.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced that Randy Brenner, Chief Development and Regulatory Officer, will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13 at 7:00 a.m. ET. The on-demand presentation will be available for viewing on their website. Paratek focuses on developing life-saving therapies, including their leading product, NUZYRA (omadacycline), aimed at treating bacterial infections. The company retains global rights for NUZYRA and collaborates with Zai Lab for its commercialization in China.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of 9,900 restricted stock units to a new employee, effective August 31, 2021. This grant, part of the Paratek 2017 Inducement Plan, is subject to a 36-month vesting period. The company focuses on developing innovative therapies for serious diseases, with its lead product NUZYRA® targeting community-acquired bacterial pneumonia. Paratek also holds partnerships and licensing agreements for its products, including collaborations in China and the U.S.
Paratek Pharmaceuticals (Nasdaq: PRTK) has received orphan drug designation from the FDA for NUZYRA (omadacycline) to treat infections caused by Nontuberculous Mycobacteria (NTM), specifically targeting NTM pulmonary disease from Mycobacterium abscessus complex (MABc). This designation offers development incentives including tax credits and potential market exclusivity. A Phase 2b study is underway, targeting around 75 patients to assess NUZYRA's efficacy and safety. NTM pulmonary infections impact approximately 11,500 individuals in the U.S., with current treatments often requiring lifelong and complex care.
Paratek Pharmaceuticals reported strong second-quarter results for 2021, with total revenues of $57.5 million, including $52.8 million from NUZYRA net U.S. sales. This represented a 13% increase quarter-over-quarter and an 84% increase year-over-year. The company achieved $37.9 million from a BARDA procurement and expanded NUZYRA's label with FDA approval for an oral loading dose regimen for community-acquired bacterial pneumonia. They initiated a Phase 2b study for NTM abscessus, estimating a potential $1 billion market opportunity.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced that its antibiotic NUZYRA® (omadacycline) has been included in the CDC's updated recommendations for treating plague infections. This addition highlights NUZYRA's potential as a bioterrorism countermeasure and its effectiveness in public health emergencies. The CDC's review reinforces the clinical utility of NUZYRA, which is already approved for community-acquired bacterial pneumonia and skin infections. The company is also pursuing additional applications for NUZYRA, indicating a significant market opportunity.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced that Adam Woodrow, President and Chief Commercial Officer, will participate in a panel at the Wedbush PacGrow Healthcare Conference on August 11, 2021, at 4:40 p.m. E.T. The discussion, titled Infectious Personality: Challenges and Optimism in Infectious Diseases, will cover drug development and regulatory trends. Paratek specializes in innovative therapies for life-threatening diseases, with products like NUZYRA and SEYSARA. A live webcast will be available for viewing, along with a replay option for up to 90 days.
Paratek Pharmaceuticals (PRTK) announced the grant of stock options to six new employees on July 30, 2021, under its 2017 Inducement Plan. A total of 4,800 stock options were allocated at an exercise price of $5.20, with a four-year vesting period. Additionally, 11,100 restricted stock units were granted, vesting after 36 months. The company is advancing its lead product, NUZYRA, an antibiotic approved for treating community-acquired bacterial pneumonia and acute bacterial skin infections. Paratek has a collaboration for NUZYRA in China and is exploring a Phase 2b study for Nontuberculous Mycobacterial Pulmonary Disease, representing a market opportunity of $1 billion.
Paratek Pharmaceuticals (Nasdaq: PRTK) will host a conference call and live audio webcast on August 9, 2021, at 4:30 p.m. EDT to discuss its corporate update and financial results for Q2 2021. The call will provide insights into the company’s performance and development activities. Paratek's lead product, NUZYRA (omadacycline), is an antibiotic for community-acquired bacterial pneumonia and skin infections. The company also has a collaboration with Zai Lab for omadacycline in China and is exploring opportunities in treating Nontuberculous Mycobacterial pulmonary disease, a market potentially worth $1 billion in the U.S.
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