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Paratek Announces Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

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BOSTON, May 03, 2021 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases and other public health threats for civilian, government and military use, today announced that on April 30, 2021, the Company granted stock options to seven new employees of the Company. These awards were granted pursuant to the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, as amended, which was approved by the Company's board of directors on June 15, 2017, under Rule 5635(c)(4) of the NASDAQ Listing Rules, for equity grants to employees entering into employment or returning to employment after a bona fide period of non-employment with the Company, as an inducement material to such individuals entering into employment with the Company.

The stock options are to acquire, in the aggregate, 14,100 shares of the Company’s common stock at a per share exercise price of $7.65, the closing sales price on April 30, 2021, and shall vest over a four-year vesting period, under which 25% of the shares will vest after 12 months of employment, with the remaining shares vesting monthly thereafter over the remaining 36-month period, subject to the employee’s continuous service. The stock options are subject to the terms and conditions of the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, as amended, and the terms and conditions of the stock option agreement covering each grant.

About Paratek Pharmaceuticals, Inc.
Paratek Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of novel life-saving therapies for life-threatening diseases and other public health threats for civilian, government and military use.

The company’s lead commercial product, NUZYRA® (omadacycline), is a once-daily oral and intravenous antibiotic available in the U.S. for the treatment of adults with community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections. Paratek has a collaboration agreement with Zai Lab for the development and commercialization of omadacycline in the greater China region and retains all remaining global rights.

Paratek exclusively licensed U.S. rights and rights to the greater China territory for SEYSARA® (sarecycline), a once-daily oral therapy for the treatment of moderate to severe acne vulgaris, to Almirall, LLC, or Almirall. Paratek retains the development and commercialization rights for sarecycline in the rest of the world.

In 2019, Paratek was awarded a contract from the Biomedical Advanced Research and Development Authority (BARDA) to support the development of NUZYRA for the treatment of pulmonary anthrax.

For more information, visit www.ParatekPharma.com or follow @ParatekPharma on Twitter.

About NUZYRA®
NUZYRA (omadacycline) is a novel antibiotic with both once-daily oral and intravenous formulations for the treatment of community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI). A modernized tetracycline, NUZYRA is specifically designed to overcome tetracycline resistance and exhibits activity across a spectrum of bacteria, including Gram-positive, Gram-negative, atypicals, and other drug-resistant strains.

Please see full Prescribing Information for NUZYRA at www.NUZYRA.com.

For more information, visit www.ParatekPharma.com or follow @ParatekPharma on Twitter.

CONTACT:
Investor and Media Relations:     
Ben Strain     
617-807-6688     
ir@ParatekPharma.com


Paratek Pharmaceuticals Inc.

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Pharmaceutical Preparation Manufacturing
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Health Technology, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
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About PRTK

paratek pharmaceuticals (nasdaq: prtk) is a biopharmaceutical company that develops transformative solutions for patients, both in and out of the hospital, with diseases that are not responsive to current treatments. we focus on drugs that target infectious disease and other difficult to treat conditions. our lead product candidate, omadacycline, is the first in a new class of tetracyclines known as aminomethycyclines, with broad spectrum activity against gram-positive, gram-negative and atypical bacteria. omadacycline is being developed as a once daily, oral and intravenous, empiric monotherapy for community acquired bacterial infections, particularly when antibiotic resistance is of concern. the food and drug administration (fda) granted omadacycline a qualified infectious disease product (qidp) designation and completed two special protocol assessments for its phase 3 clinical trial program.