PRTK - Paratek Pharmaceuticals rises 6% after Q3 2021 earnings beat

Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) are up 6% in after-hours trading after the company's Q3 2021 earnings beat on both EPS and revenue. The company also said it anticipates full-year revenue of Nuzyra (omadacycline) will be at the higher end of the previously indicated range of $100M-$106M. Paratek's net loss of $18.2M ($0.37 per share) was ~13% decline for Q3 2020. The company said its $111M in cash on hand at the end of Q3 is enough to fund activities through the end of 2023. Paratek noted that last month, it enrolled the first patient in a phase 2b study evaluating Nuzyra for NTM abscessus pulmonary infection, a rare disease with no approved therapy. The company said this indication could represent a $1B addressable market iun the U.S.

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Paratek Pharmaceuticals rises 6% after Q3 2021 earnings beat