Paratek Launches Mid-Stage NTM Program With Nuzyra, Second Procurement Under BARDA Pact Expected In 2H 2022
Paratek Pharmaceuticals Inc (NASDAQ: PRTK) has initiated Phase 2b trial evaluating Nuzyra (omadacycline) for Nontuberculous Mycobacterial (NTM) Pulmonary Disease caused by Mycobacterium abscessus complex (MABc).
The placebo-controlled, randomized monotherapy study will include 75 patients in the early treatment phase who are not receiving other treatments.
The primary study endpoints are improvement in symptoms and safety and tolerability following 12 weeks of treatment.
Due to the small numbers of patients with this rare disease, Paratek expects the study will take about two years to complete enrollment.
The Company delivered the first batch of Nuzyra valued at $38 million to the Biomedical Advanced Research and Development Authority (BARDA).
Now, Paratek and BARDA are engaged in ongoing discussions regarding the timing of the second and future procurements under the Project BioShield Agreement.
Paratek anticipates securing the second procurement in the second half of 2022.
The Company anticipates its existing cash and cash equivalents will provide for a cash runway through the end of 2023 with a pathway to cash flow break-even.
Paratek will host a conference call to include a corporate update, key opinion leader today at 10 AM E.T.
Price Action: PRTK shares are down 2.54% at $9.97 during the market session on the last check Wednesday.
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