Paratek Pharmaceuticals Inc. (PRTK) shares gained 1.60% in after-hours on Friday, November 26, 2021, and closed the weekly trading at $4.45. However, in the regular trading session, PRTK’s stock lost 2.23%. PRTK shares have fallen 28.08% over the last 12 months, and they have moved down by 12.22% in the past week. Over the past three months, the stock has lost 20.80%, while over the past six months, it has lost 46.72%.
Let’s have a brief discussion about its recent news.
PRTK participation in the recent event
Paratek Pharmaceuticals, Inc. PRTK) recently participated at the 2021 Jefferies London Healthcare Conference which was held on November 18, 2021. The company was presented by CEO, Evan Loh during the conference.
PRTK recent financial results
On November 08, 2021, Paratek Pharmaceuticals, Inc. (PRTK) reported financial results for the quarter ended September 30, 2021.
Q3 2021 financial highlights
- PRTK reported total revenue of $24.4 million in Q3 2021 compared to $13.65 million in Q3 2020.
- In Q3 2021, Research and development expenses were $7.9 million compared to 6.7 million for the same period in the prior year.
- Selling, general and administrative expenses were $26.0 million for the third quarter of 2021, compared to $20.9 million for the same period in the prior year.
- It suffered a net loss of $18.2 million, or $0.37 per share in Q3 2021 compared to a net loss of $20.9 million, or $0.46 per share, for the same period in the prior year.
- As of September 30, 2021, the company had cash and cash equivalents of $111.0 million.
FY 2021 financial guidance
- For FY 21, Total Revenue is expected to be within the previously indicated range of $128 to $139 million.
- Total R&D and SG&A expenses are projected to be within the original guidance range of $150 to $155 million.
PRTK inducement grants
On October 29, 2021, Paratek Pharmaceuticals, Inc. granted stock options to thirteen new employees of the Company. These awards were granted according to the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan.
The stock options were to acquire, in the aggregate, 13,600 shares of the Company’s common stock at a per share exercise price of $5.02, and shall vest over a four-year vesting period.
Earlier on September 30, 2021, PRTK granted stock options to five new employees of the Company as well.
The first patient enrolled in Phase 2b Study of PRTK NUZYRA ®
On October 18, 2021, the first patient was enrolled in the Paratek Pharmaceuticals, Inc. (PRTK)’s Phase 2b study evaluating the safety and efficacy of NUZYRA® (omadacycline) for the treatment for nontuberculous mycobacterial (NTM) pulmonary disease caused by Mycobacterium abscessus complex (MABc), a rare disease for which there is no FDA-approved therapy.
Approximately 11,500 patients in the United States are affected by pulmonary infections caused by MABc. Patients have a myriad of symptoms including severe fatigue, fever, cough and shortness of breath.
Well, we have no recent news or development to explain its early loss and later its gains on Friday. Let’s see how it commence trading on Monday?