Paratek Pharmaceuticals, Inc. (NASDAQ: PRTK) is a
biopharmaceutical company focused on the development and commercialization of
innovative therapies based upon its expertise in novel tetracycline chemistry.
The company’s leading product candidate, omadacycline, is the first in a new
class of antibiotics derived from tetracyclines for use as a first-line
monotherapy to treat serious bacterial infections when antibiotic resistance is
a cause of concern.
In recent weeks, Paratek has continued to progress with the
development of omadacycline. Earlier this month, the company initiated a phase
III clinical trial of the drug candidate for the treatment of acute bacterial
skin and skin structure infections (ABSSSI). This study is meant to assess the
efficacy and safety of omadacycline in treating ABSSSI, particularly as
compared with current treatment option linezolid. The company’s second phase
III trial on the drug candidate, which will begin enrolling patients later this
year, will study its effectiveness in treating community-acquired bacterial
pneumonia (CABP).
“The initiation of our registration trial for ABSSSI
represents an important milestone for Paratek as a company,” Michael Bigham,
chairman and chief executive officer of Paratek, stated in a news release. “We
believe that omadacycline has the potential to become an important empiric
monotherapy treatment option for patients suffering from ABSSSI, CABP, urinary
tract infections and other bacterial infections when resistance is of concern.”
Upon commercialization, the potential market for Paratek’s
novel antibiotic treatment is immense. According to a 2013 report by the
Centers for Disease Control and Prevention, at least two million people in the
United States become infected with bacteria that are resistant to conventional
antibiotic treatment options each year, and an estimated 23,000 people die as a
result of these infections.
In the first quarter of 2015, Paratek positioned itself to
move forward with its omadacycline trials by securing approximately $71 million
in funding through a common stock offering. With financing complete, the
company will look to accelerate its existing clinical development plans, as
well as adding a third potential indication in urinary tract infections (UTI),
in the months to come. Based on current assumptions, Paratek’s cash and cash
equivalents are expected to fund operations through mid-2017, which is expected
to coincide with the availability of top-line data from the company’s CABP
trial.
For prospective shareholders, the vast market potential of
omadacycline and the current financial standing of Paratek combine to make the
company an intriguing investment opportunity moving forward. As Paratek
continues to make strides toward the commercialization of its innovative drug candidate,
look for the company to clear the path for sustainable returns in the years to
come.
For more information, visit www.paratekpharm.com
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Sign up for “The Mission Report” at www.MissionIR.com
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