BOSTON, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK), a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon its expertise in novel tetracycline chemistry, today announced that it has sold 3,205,128 shares of its common stock in a registered underwritten public offering for total proceeds of approximately $50 million. The offering is expected to close on January 22, 2018, subject to customary closing conditions. All of the shares sold in the offering were sold by Paratek. In addition, Paratek has granted the underwriter a 30-day option to purchase up to an additional 480,769 shares of its common stock.
BTIG, LLC is acting as sole book-running manager for the offering.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was declared effective by the Securities and Exchange Commission (SEC) on October 29, 2015. Before you invest, you should read the prospectus in the registration statement and related prospectus supplement that Paratek will file with the SEC for more complete information about Paratek and this offering. An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering will be available on the website of the SEC at www.sec.gov. Copies of the prospectus supplement, when available, and the accompanying prospectus relating to the offering may be obtained by contacting BTIG, LLC, at 825 Third Avenue, 6th Floor, New York, NY, 10022, or by telephone at (212) 593-7555 or by e-mail at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Paratek Pharmaceuticals, Inc.
Paratek Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics based upon tetracycline chemistry. Paratek has used its expertise in biology and tetracycline chemistry to create chemically diverse and biologically distinct small molecules derived from the minocycline core structure. Paratek’s two lead product candidates are the antibacterials, omadacycline and sarecycline.
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