Paratek Pharma Shares Rise After Nuzyra Gets FDA Fast Track
Shares of Paratek Pharmaceuticals Inc. were trading higher in Tuesday's after-hours market, following news the U.S. Food and Drug Administration granted Fast Track designation for the oral and IV formulations of the company's Nuzyra.
Nuzyra, or omadacycline, is designed to treat Pulmonary Nontuberculous Mycobacterial disease, the company said.
The FDA said Fast Track is a process "designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need."
At 5:57 p.m. ET, shares of Paratek were trading 12.17% higher, at $2.09 each. Volume at the time topped 3 million shares. The stock finished the day's regular session with a 5% gain, closing at $1.89 per share.
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 or other public health threats for civilian, government and military use.
The Company’s lead commercial product, Nuzyra (omadacycline), is an 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 (Almirall). Paratek retains the development and commercialization rights for sarecycline in the rest of the world.
Jun 23, 2022
