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BOSTON, May 28, 2020 – Paratek Pharmaceuticals (Nasdaq: PRTK) announced its participation at the Jefferies 2020 Virtual Healthcare Conference on June 3, 2020, at 8:00 a.m. ET. The live presentation will be available via webcast, and a replay will be accessible for 90 days. Paratek specializes in developing therapies for life-threatening diseases, with its lead product NUZYRA® approved for treating bacterial pneumonia and skin infections. The company also has a collaboration with Zai Lab for omadacycline in China and has licensed rights for SEYSARA® to Almirall.
Paratek Pharmaceuticals (Nasdaq: PRTK) reported a 35% increase in net revenue for NUZYRA in Q1 2020, totaling $7.3 million. The Biomedical Advanced Research and Development Authority (BARDA) initiated funding for all FDA post-marketing studies, projected at $77 million, and an additional $20 million for U.S. manufacturing onshoring. A net loss of $27.6 million was reported, improving from a loss of $35.6 million in Q1 2019. The company maintained its 2020 revenue guidance of $75-$80 million, with expectations of cash runway through 2023.