Paratek Pharmaceuticals Inc (NASDAQ: PRTK) is having an incredibly strong start to the day in the pre-market hours this morning, and for good reason. The company announced that it is considering the sale of the company. Of course, this is leading to excitement among investors who are sending the stock toward the top. As is normally the case, our friends at Trade Ideas were the first to alert us to the gains. At the moment (8:47), PRTK is trading at $24.05 per share after a gain of $5.00 per share (26.25%) thus far today.
PRTK Gains On Sale Exploration
As mentioned above Paratek Pharmaceuticals is having an incredibly strong time in the pre-market hours this morning after the company said that it’s considering putting itself on the auction block. In a report first published on Bloomberg, investors learned that there’s quite a bit of takeover interest surrounding the company as it gets closer and closer to regulatory approval for a new antibiotic. As a result of the strong takeover interest, the company is considering putting itself up for sale.
This news comes just weeks after the company announced that the third study surrounding oral omadacycline proved to be yet another positive one. The treatment performed well against linezolid. With physicians looking for new ways to fight the war against drug-resistant, community-acquired infections, this new drug could be a great option, and an overwhelmingly profitable one at that.
While PRTK will be combing the market to see just how much interest there actually is in a takeover of the company, it’s important to keep in mind that this is a sale exploration at the moment, not a sale. As we learned from Tesaro’s recent exploration, a sale may not happen. Nonetheless, this could be a big acquisition if all goes well.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PRTK. In particular, we’re interested in following the company’s exploration to see if a sale is the best option for the company and its shareholders. We’re also interested in following the efforts the company is making to bring omadacycline to market. We’ll continue to follow the story closely and bring the news to you as it breaks!
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