Benzinga | Jun 16, 2021 09:33AM EDT

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.