Paratek Pharmaceuticals, Inc. (PRTK), a commercial-stage biopharmaceutical company, has surged 7.30% in aftermarket trading session. Consequently, PRTK stock is trading at $4.70 at the time of the writing. The speculations regarding the approval of NUZYRA (omadacycline), a novel antibiotic being produced by the company, in China have catalyzed the movement of stock. On Friday, PRTK stock closed the day at $4.38 after declining 2.23% during regular trading hours.
PRTK Q3 2021 Operational Results
On 8th November, PRTK released the financial and operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company had cash and cash equivalents of $110.99 million on 30th September. The total revenue generated by the company during the period was $3.01 million against $1.86 million for the same period of 2020. The total operating expenses bore by the company during the period were $38.16 million against $29.60 million for the same period of 2020. The net loss suffered by the company during the quarter stood at $18.2 million against $20.8 million for the same quarter of 2020.
Financial Guidance for Upcoming Period
Alongside the operational results, PRTK also updated its financial guidance for the upcoming period. The company anticipated that the net revenue of NUZYRA would be at the higher end of the previously estimated range of $100 to $106 million. That would include the $38 million NUZYRA procurement by BARDA which happened during June 2021. The total revenue was expected to be in the range of $128 million to $139 million. The total expenses were projected to be within the range of $150 to $155 million.
Executive Commentary
Evan Loh, M.D., chief executive officer of PRTK, while commenting on the results said that the company is extremely proud of the 30% quarter over quarter growth in its core business despite continually facing challenges from the ongoing pandemic. He hoped that the company would carry the momentum forward which it attained through continued execution of its strategic policies.
Future Outlook for PRTK
Despite the association of numerous positive sentiments with it, PRTK stock doesn’t look in great shape. The stock has declined by more than 45% during the last 6 months. But the more recent performance is depicting a change in fortunes for PRTK stock. Hence, potential investors should keep a close eye on the stock.
