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 the grant of stock options and restricted stock units to three new employees on March 31, 2021. A total of 1,200 stock options were issued at an exercise price of $7.06, vesting over four years. Additionally, 13,800 restricted stock units will vest after 36 months of continuous employment. This move aligns with the 2017 Inducement Plan to attract talent crucial for the company's focus on developing life-saving therapies, including its lead product NUZYRA, an antibiotic for bacterial infections.
On March 01, 2021, Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options and restricted stock units to eight new employees as part of its 2017 Inducement Plan. Stock options total 12,350 shares with an exercise price of $7.48, vesting over four years. Additionally, 3,000 restricted stock units will vest after 36 months. This move aims to attract and retain talent for the company's focus on developing therapies for serious diseases. Paratek's lead product, NUZYRA, is used for treating bacterial infections and is supported by various development agreements.
Paratek Pharmaceuticals (Nasdaq: PRTK) reported Q4 2020 revenue of $16 million, a 17% increase from Q3 and 78% year-over-year, driven by NUZYRA's U.S. sales of $12.4 million, up 14% sequentially. The company anticipates 2021 total revenue between $166-177 million, with core NUZYRA sales expected at $138-144 million. Paratek plans to expand NUZYRA into primary care, hiring 40 sales reps for this initiative. The firm reported a net loss of $25 million for Q4, improving from a $27.4 million loss in Q4 2019. For 2021, R&D and SG&A expenses are projected to be approximately $150-155 million.
Paratek Pharmaceuticals (Nasdaq: PRTK) will present at the 10th Annual SVB Leerink Global Healthcare Conference on February 25, 2021, at 11:20 a.m. ET. This presentation will provide insights into the company's development of innovative therapies for life-threatening diseases. Investors can access the live webcast here, with a replay available for 90 days post-event. Paratek’s lead product, NUZYRA®, treats bacterial infections, while SEYSARA® focuses on acne treatment. For more details, visit ParatekPharma.com.
Paratek Pharmaceuticals (PRTK) announced a conference call on February 24, 2021, at 4:30 p.m. EST to discuss its financial results for Q4 and full year 2020. The company focuses on developing novel therapies for life-threatening diseases, with its lead product, NUZYRA, approved for treating community-acquired bacterial pneumonia and acute bacterial skin infections. Paratek has licensing agreements for its products, including NUZYRA and SEYSARA. In 2019, it received a $285 million contract from BARDA for NUZYRA's development and manufacturing.
Paratek Pharmaceuticals is expanding the commercial promotion of NUZYRA into community settings following its successful launch in hospitals. This initiative addresses the critical demand for a once-daily oral antibiotic, particularly during the COVID-19 pandemic. The revenue growth of NUZYRA has outperformed other recent antibiotics, attributed to its effective formulation and broad reimbursement coverage. Paratek plans to hire 40 community-based sales representatives and anticipate a total of 90-100 representatives to enhance awareness and adoption.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options and restricted stock units to 92 new employees on January 29, 2021. Under the 2017 Inducement Plan, these options, totaling 119,650 shares at an exercise price of $6.49, will vest over four years. Additionally, 6,000 restricted stock units will vest after 36 months. Paratek focuses on developing novel therapies for life-threatening diseases, with key products like NUZYRA and SEYSARA. The company retains commercialization rights globally except in specific regions.
Paratek Pharmaceuticals (Nasdaq: PRTK) announced its participation in the 2021 H.C. Wainwright BIOCONNECT Virtual Conference, set to broadcast on January 11, 2021, at 6:00 a.m. ET. Investors can access the live presentation via a dedicated webcast link. Paratek specializes in developing life-saving therapies for severe diseases, including NUZYRA® (omadacycline) for bacterial infections and SEYSARA® (sarecycline) for acne. The company is also backed by a $285 million BARDA contract to support NUZYRA's development against biothreats.
Paratek Pharmaceuticals (Nasdaq: PRTK) has announced a $60 million non-recourse loan from R-Bridge Healthcare to prepay its obligations to Hercules Capital. This loan is backed by royalties from its partnership with Zai Lab and U.S. net sales of NUZYRA, with a maturity of 12 years. Paratek expects a $6 million milestone payment from Zai Lab upon regulatory approval in China, anticipated in H1 2021. The loan offers greater financial flexibility, with the option to increase revenue interest rates and caps under specific conditions.
On December 1, 2020, Paratek Pharmaceuticals (Nasdaq: PRTK) announced the grant of stock options and restricted stock units to a new employee, totaling 6,550 shares. The stock options consist of 3,550 shares at an exercise price of $6.19, with a four-year vesting schedule. The restricted stock units will vest after 36 months. This action adheres to the Paratek 2017 Inducement Plan and aims to incentivize new talent. The company focuses on developing lifesaving therapies, including NUZYRA, an antibiotic for serious infections.
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