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 successfully delivered its first procurement of NUZYRA to the Biomedical Advanced Research and Development Authority (BARDA) valued at approximately $38 million, which will be recorded in Q2 2021 net sales. This achievement marks a significant step in their partnership with BARDA to develop NUZYRA for pulmonary anthrax, a critical public health threat. The five-year contract awarded in December 2019 potentially totals $284.5 million and includes various support for NUZYRA's development and manufacturing.
Paratek Pharmaceuticals (PRTK) has announced the initiation of a Phase 2b clinical trial for NUZYRA (omadacycline) to treat Nontuberculous Mycobacterial (NTM) Pulmonary Disease caused by Mycobacterium abscessus. The trial aims to enroll around 75 patients over two years, emphasizing NUZYRA's potential to address unmet medical needs for this rare disease. Additionally, the company is hosting an investor webinar focused on NTM updates. A recent BARDA procurement of approximately $38 million has been completed, with expectations for a second procurement by late 2022.
Paratek Pharmaceuticals (Nasdaq: PRTK) has appointed Minnie Baylor-Henry, J.D., to its Board of Directors. Baylor-Henry brings extensive experience in food and drug laws, having held leadership positions at Johnson & Johnson and the FDA. Her role is expected to enhance Paratek's strategic efforts, particularly regarding its antibiotic NUZYRA's lifecycle initiatives and research on potential treatments for biothreat pathogens. Baylor-Henry's expertise is anticipated to support the company's growth as it ventures into community settings and explores further clinical applications.
Paratek Pharmaceuticals (Nasdaq: PRTK) will host an investor webinar on June 16, 2021, at 10:00 a.m. ET. The session will cover a corporate overview, updates on NUZYRA® (omadacycline), and plans for a Phase 2b study targeting non-tuberculous mycobacterial infections. Featuring experts like Kevin L. Winthrop, M.D., the webinar aims to address the unmet medical need in this rare condition. NUZYRA is FDA-approved for treating community-acquired bacterial pneumonia and skin infections and is designed to combat antibiotic resistance.
On June 1, 2021, Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options to six new employees. This was in line with the 2017 Inducement Plan, approved by the board on June 15, 2017. The options allow employees to acquire a total of 4,800 shares at an exercise price of $8.22 per share, with a four-year vesting period. Additionally, 20,100 restricted stock units will vest entirely after 36 months. The company focuses on developing innovative therapies for serious diseases, with its lead product, NUZYRA, approved for bacterial infections.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced FDA approval for a supplemental New Drug Application (sNDA) for NUZYRA's oral-only dosing regimen to treat adults with community-acquired bacterial pneumonia (CABP). This innovative approach enhances treatment flexibility, allowing outpatient care, which can decrease hospital stays and related costs. Paratek identifies a sizable commercial opportunity in primary care, with the CABP market valued at approximately $1.5 billion. The oral regimen presents a safe, effective option in a challenging antibiotic landscape.
BOSTON, May 26, 2021 – Paratek Pharmaceuticals, a commercial-stage biopharmaceutical company, announced its presentation at the Jefferies Virtual Healthcare Conference on June 2, 2021, at 9:00 a.m. ET. The event will be accessible via a live webcast, and a replay will be available for 90 days post-presentation. The company specializes in developing therapies for life-threatening diseases, with notable products including NUZYRA and SEYSARA. Paratek retains global rights for NUZYRA and has partnerships for its other products, including a significant $285 million contract with BARDA.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) reported Q1 2021 financial results, showcasing net U.S. sales for NUZYRA® of $13.2 million, a 6% increase from Q4 2020. Total revenue reached $16.4 million, marking a 3% rise over the previous quarter and a 107% increase year-over-year. BARDA initiated a procurement of NUZYRA valued at ~$38 million. R&D expenses decreased to $5.5 million, while SG&A costs also fell. The company reported a net loss of $18.3 million, significantly improved from $27.6 million a year earlier. Paratek's cash reserves of $103.5 million project operational sustainability through 2023.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced a conference call for May 17, 2021, at 8:30 a.m. EDT to discuss Q1 2021 financial results and a corporate update. The call will be accessible to domestic and international investors via provided phone numbers and live audio webcast. Paratek focuses on developing life-saving therapies, with its lead product, NUZYRA®, approved for bacterial pneumonia and skin infections. The company has collaborations with Zai Lab for NUZYRA in China and Almirall for SEYSARA® in the U.S.
Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced on May 3, 2021, that it granted stock options to seven new employees totaling 14,100 shares at an exercise price of $7.65 per share. The options will vest over four years, with 25% vesting after the first year. The awards are part of the company's 2017 Inducement Plan, which aims to attract and retain key talent. Paratek is known for its antibiotic NUZYRA, approved for treating severe bacterial infections, and has strategic agreements for its products in various regions.
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