Here's Why Paratek Pharmaceuticals Soared as Much as 37% Today
Shares of clinical-stage biopharma Paratek Pharmaceuticals (NASDAQ: PRTK) soared 37% today after news leaked that the company is considering a sale.
The stock has returned solid gains to investors in the last year after a string of positive developments for its antibiotic pipeline, including positive phase 3 results for its top two drug candidates. The data are good enough to submit multiple New Drug Applications to the U.S. Food and Drug Administration by the first quarter of 2018. Investors are fairly confident that approval is imminent for both.
Apparently, several large drugmakers echo that sentiment and are interested in acquiring Paratek Pharmaceuticals, according to a report from Bloomberg. As of 2:15 p.m. EDT, the stock had settled to a 30.8% gain.
Source: Fool.com