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Paratek Pharmaceuticals receives $36.4M milestone payment
The Fly

Paratek Pharmaceuticals receives $36.4M milestone payment

Paratek Pharmaceuticals announced the receipt of a $36.4M milestone payment associated with the second procurement of NUZYRA under the company’s Project BioShield contract with the Biomedical Advanced Research and Development Authority, BARDA, part of the Administration for Strategic Preparedness and Response within the U.S. Department of Health and Human Services. A total of $38.1M in procurement-related revenue was recognized by the company in December 2022 and is comprised of $36.4M from BARDA and approximately $1.7M in deferred revenue related to post-marketing commitments under the Project BioShield contract. The delivery of 2,500 anthrax treatment courses of NUZYRA to BARDA followed the company’s previous announcement of positive top-line results from a pilot rabbit efficacy study evaluating NUZYRA’s effectiveness in the treatment of pulmonary anthrax. The study demonstrated a 100% survival rate in all three dose groups of omadacycline-treated rabbits at the specified endpoint of 45 days post Bacillus anthracis challenge, while all rabbits treated with placebo died due to anthrax infection within three days. These data will be presented at a future scientific congress.

Published first on TheFly

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