Paratek Pharmaceuticals (PRTK) Soars on Community-Acquired Bacterial Pneumonia Study Results
Shares of Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK) climbed over 25% to touch a new 52-week high in after-hours trading Monday as the company said that a pivotal late-stage study evaluating the safety and efficacy of its experimental antibiotic IV-to-oral omadacycline versus IV-to-oral moxifloxacin in community-acquired bacterial pneumonia patients has met all the FDA-specified primary and secondary endpoints, and the EMA-specified co-primary endpoints.
Paratek added that it is planning to submit its New Drug Application (NDA) for omadacycline in the U.S. during the first-quarter 2018 and in the European Union later that year.
PRTK stock finished the regular session in negative territory by 3.38% (or -$0.65) at $18.60 with a total volume of 2.10M shares traded, a large increase in activity versus its average volume (3m) of 360,910 shares.
Paratek Pharmaceuticals, which focuses on the development and commercialization of therapeutics based upon tetracycline chemistry, has 24.29M shares outstanding. At close on Monday, the clinical-stage biopharmaceutical company had a market capitalization of $451.72M and PRTK stock one-year range was from $9.80 to $19.90 per share.
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