Paratek shares soar as the antibiotic developer posts a ‘for sale’ sign
Shares of Paratek Pharmaceuticals $PRTK shot up more than 30% Wednesday morning after Bloomberg posted a story saying that the biotech had put itself up on the auction block, exploring a sale amid takeover interest as it nears a regulatory pitch for a new antibiotic.
Just a few weeks ago Paratek heralded its third straight positive study for oral omadacycline, which lined up nicely as a non-inferior alternative to linezolid. Researchers did have to report that the Paratek antibiotic spurred problems with a higher rate of nausea and vomiting, but execs felt the difference wasn’t big enough to mar its chances as physicians look for new weapons in the war against drug-resistant, community-acquired infections.
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