Paratek to Ring Nasdaq Closing Bell Recognizing 20th Anniversary
October 04 2016 - 8:00AM
Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK) will today ring the
closing bell at Nasdaq to mark the company’s 20th anniversary of
working to develop new antibiotics. Paratek Chairman and Chief
Executive Officer Michael Bigham will be joined by his colleagues
for the Closing Bell ceremony at 3:45 pm ET.
“We are honored to have been invited to participate in the
Nasdaq Closing Bell ceremony and to celebrate Paratek’s 20th
anniversary,” said Michael Bigham, Chairman and Chief Executive
Officer, Paratek. “Through the steadfast devotion and hard work of
our team our lead drug candidate omadacycline is in late phase 3
development, with one successful phase 3 study announced in June of
this year, and with two additional phase 3 studies actively
enrolling. Omadacycline is a broad spectrum, well-tolerated,
once-daily oral and intravenous antibiotic being developed for the
treatment of serious community-acquired bacterial infections,
particularly where resistance is of concern.”
A live stream of the Nasdaq Closing Bell ceremony will be
available at https://new.livestream.com/nasdaq/live
or http://www.nasdaq.com/about/marketsitetowervideo.asx
Photos of the ceremony will be available at
http://business.nasdaq.com/discover/market-bell-ceremonies
About Paratek Pharmaceuticals, Inc.Paratek
Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
development and commercialization of innovative therapies based
upon its expertise in novel tetracycline chemistry. Paratek's lead
product candidate, omadacycline, is the first in a new class of
tetracyclines known as aminomethylcyclines, with broad-spectrum
activity against Gram-positive, Gram-negative and atypical
bacteria. In June 2016 Paratek announced positive efficacy data in
a Phase 3 registration study in ABSSSI demonstrating the efficacy
and safety of omadacycline compared to linezolid. A Phase 3
registration study for community acquired bacterial pneumonia
(CABP) comparing IV-to-oral omadacycline to IV-to-oral moxifloxacin
was initiated in November 2015. Enrollment continues on track
to report top line data as early as the third quarter of 2017. A
Phase 3 registration study in ABSSSI comparing once-daily oral-only
dosing of omadacycline to twice-daily oral-only dosing of linezolid
was initiated in August 2016. Top line data are expected as early
as the second quarter of 2017. A phase 1b study in uncomplicated
urinary tract infections (UTI) was initiated in May 2016.
Enrollment is nearly complete with top line data expected as early
as the fourth quarter of 2016. Omadacycline has been granted
Qualified Infectious Disease Product designation and Fast Track
status by the U.S. Food and Drug Administration.
Omadacycline is a new once-daily oral and IV, well-tolerated
broad spectrum antibiotic being developed for use as empiric
monotherapy for patients suffering from serious community-acquired
bacterial infections, such as acute bacterial skin and skin
structure infections, community acquired bacterial pneumonia,
urinary tract infections and other community-acquired bacterial
infections, particularly when antibiotic resistance is of concern
to prescribing physicians.
Paratek's second Phase 3 product candidate, sarecycline, is a
well-tolerated, once-daily, oral, narrow spectrum
tetracycline-derived antibiotic with potent anti-inflammatory
properties for the potential treatment of acne and rosacea in the
community setting. Allergan owns the U.S. rights for the
development and commercialization of sarecycline. Paratek retains
all ex-U.S. rights. Allergan initiated two identical Phase 3
registration studies in December 2014 for sarecycline for the
treatment of moderate to severe acne vulgaris. Top line data are
expected in the first half of 2017.
For more information, visit www.paratekpharma.com.
Forward Looking Statement Certain
statements in this press release are forward-looking statements.
These forward-looking statements are based upon Paratek's current
expectations and involve substantial risks and uncertainties. These
risks and uncertainties include, but are not limited to: (i)
unexpected results may cause the designs of the clinical trials to
change, or the projected timelines of the trials to be extended,
(ii) unexpected decline in the rates of patient enrollment in the
clinical trials, (iii) unforeseen adverse effects experienced by
patients resulting in a clinical hold, (iv) failure of patients to
complete clinical trials, (v) risks related to regulatory oversight
of the trials, (vi) the need for substantial additional funding to
complete the development and commercialization of product
candidates and (vii) risks that data to date and trends may not be
predictive of future results. These and other risk factors are
discussed under "Risk Factors" and elsewhere in Paratek's Annual
Report on Form 10-K for the year ended December 31, 2015 and
Paratek's other filings with the Securities and Exchange
Commission. Paratek expressly disclaims any obligation or
undertaking to update or revise any forward-looking statements
contained herein.
CONTACTS:
Media Relations:
Michael Lampe
(484) 575-5040
michael@scientpr.com
Investor Relations:
Hans Vitzthum
LifeSci Advisors, LLC.
212-915-2568
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