Paratek Pharmace Stock Price, News & Analysis

Paratek Pharmaceuticals (NASDAQ:PRTK) has appointed Dr. Jeffrey Stein as its first Lead Independent Director, effective December 8, 2022. This decision was made unanimously by the independent Board members to leverage Dr. Stein’s extensive leadership experience and knowledge of the anti-infective sector. Dr. Stein has been a part of Paratek since its public emergence in 2014 and currently serves as the President and CEO of Cidara Therapeutics. His new role aims to enhance governance and reflect best practices for public companies at Paratek's development stage.

Paratek Pharmaceuticals (NASDAQ: PRTK) announced a successful pilot study involving NUZYRA for treating pulmonary anthrax, achieving a 100% survival rate in infected rabbits compared to placebo controls. This success led to a $38.1 million revenue recognition from its Project BioShield Contract with BARDA, of which $36.4 million is from BARDA, and $1.7 million from deferred revenue. The contract aims to support NUZYRA’s development against biothreats and pandemics, with a total value of approximately $304 million.

On November 30, 2022, Paratek Pharmaceuticals (Nasdaq: PRTK) granted restricted stock units to a new employee under its 2017 Inducement Plan. This award covers 4,900 shares, which will vest completely after a 36-month period of employment. Paratek 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. The company also has significant collaborations and potential market opportunities, including a $1 billion addressable market for NUZYRA®.

Paratek Pharmaceuticals reported a strong financial performance for Q3 2022, achieving $30.2 million in total revenue, a 24% increase year-over-year. Key growth driver was NUZYRA, generating $25.5 million in net U.S. sales, marking a 31% rise from $19.4 million in Q3 2021. The company initiated a pilot efficacy study for NUZYRA's use in treating pulmonary anthrax. Despite a net loss of $20.9 million, Paratek has a cash position of $57.0 million, expected to last through the end of 2023, supporting future growth opportunities.

Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the grant of stock options to four new employees on October 31, 2022. A total of 4,800 options were issued at an exercise price of $3.56 per share, with a four-year vesting schedule. This action is part of the Company's 2017 Inducement Plan to attract talent and incentivize new hires. Paratek focuses on developing therapies for life-threatening diseases, with its lead product NUZYRA® targeting bacterial infections and a Phase 2b study for nontuberculous mycobacterial disease, potentially tapping into a $1 billion U.S. market.

BOSTON, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) has announced that CEO Evan Loh will present at the Credit Suisse 31^st Annual Healthcare Conference from Nov. 7-10. The presentation will be available on-demand starting Nov. 8 on the company's website. Paratek 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. The company is also exploring NUZYRA for nontuberculous mycobacterial pulmonary disease.

Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) announced the commercial availability of U.S.-produced NUZYRA® (omadacycline) tablets following a successful technology transfer. This marks a significant step towards establishing a U.S. supply chain for NUZYRA under the Project BioShield partnership with BARDA. The contract awarded by BARDA, valued at up to $304 million, supports the onshoring of NUZYRA's manufacturing and its development for treating pulmonary anthrax. The company is also conducting a Phase 2b study for NUZYRA in non-tuberculous mycobacterial disease, targeting a $1 billion market in the U.S.

Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK) will host a conference call on November 3, 2022, at 4:30 p.m. ET to discuss its third-quarter 2022 financial results. Investors can access the audio webcast via the company's Investor Relations website. Paratek focuses on developing novel therapies for life-threatening diseases, with its lead product, NUZYRA® (omadacycline), treating bacterial infections. The company also has a Phase 2b study for NUZYRA in nontuberculous mycobacterial pulmonary disease, representing a potential $1 billion market in the U.S.

Paratek Pharmaceuticals (Nasdaq: PRTK) announced new data presentations related to its antibiotic, NUZYRA (omadacycline), at IDWeek 2022. The conference will occur from October 19-23, 2022, in Washington, D.C. Key presentations include the in vitro activity of NUZYRA against resistant infections and real-world usage data. Paratek emphasizes its commitment to clinical data supporting NUZYRA's efficacy for serious infections. Additionally, the company is conducting a Phase 2b study targeting non-tuberculous mycobacterial pulmonary disease, representing a potential $1 billion market.