Paratek Pharmaceuticals Inc (NASDAQ: PRTK)
Paratek Pharmaceuticals is having an incredible day in the market today, and for good reason. The company recently released data from an important Phase 3 study. Obviously, the data was positive. Today, we’ll talk about the data that was released, how the market reacted to the news, and what we can expect to see from PRTK moving forward.
Trade smarter and make more money with Tradespoon!
PRTK Releases Phase 3 Data
As mentioned above, Paratek Pharmaceuticals is having a strong day in the market today after releasing results from a recent Phase 3 clinical study. The study was a Phase 3 registration study that surrounded the treatment of acute bacterial skin and skin structure infections, also known as ABSSSI. The study was designed to compare a broad spectrum, once-daily antibiotic designed by PRTK, known as omadacycline, to the current standard of care, linezolid.
According to the data that was released by the company, the study met the U.S. FDA specified primary efficacy endpoint when it comes to early clinical response. On top of that, the treatment also met two EMA specified co-primary efficacy endpoints for post-treatment evaluation. It is expected that the data from the study will support regulatory applications for the treatment with both the United States FDA and the EMA in Europe. In a statement, Michael Bigham, Chairman and CEO at PRTK, had the following to offer:
“The successful achievement of these primary efficacy and secondary outcomes, combined with the safety and tolerability outcomes for both the oral and IV formulations of omadacycline is a significant step towards securing regulatory approval and advancing omadacycline to commercialization… Increasingly, patients and physicians are faced with the growing challenge that existing antibiotic therapies are failing as pathogens develop resistance. The positive data from this registration study demonstrate the clear potential of omadacycline to treat searious community-acquired infections where resistance is of concern.”
How The Market Reacted To The News
One of the first things that we learn when we get started in investing is that the news moves the market. Any time positive news is released with regard to a publicly-traded company, we can expect to see gains in the value of the stock associated with the company as a result. Adversely, when negative news is released, we can expect to see declines. The news that was released with regard to PRTK was overwhelmingly positive. So naturally, we’re seeing strong gains in the value of the stock today. Currently (10:04), Paratek Pharmaceuticals stock is trading at $18.16 per share after a gain of $1.72 per share, or 10.46%, thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from PRTK. Through the most recent Phase 3 study, the company has shown that not only is omadacycline effective, but it is also safe. Considering that the treatment met the endpoints set fourth by the FDA and EMA, I would imagine that it would have no problem getting approved. This should lead to strong gains in the long run.
Don’t waste your time! Click here to find winning trades in minutes!
What Do You Think?
Where do you think PRTK is headed moving forward and why? Join the discussion at TalkTRENDZ from CNA Finance!
[Image Courtesy of Pixabay]