Paratek Secures BARDA Funding To Develop Nuzyra Antibiotic For Pulmonary Anthrax

The Biomedical Advanced Research and Development Authority (BARDA) has awarded an option under Paratek Pharmaceuticals Inc's PRTK Project BioShield contract.
Related Link: Paratek's Antibiotic Gets FDA Orphan Drug Tag For Lung Infection.
The option provides additional funding to continue developing Nuzyra (omadacycline) under the FDA Animal Efficacy Rule development program to support a supplemental new drug application for post-exposure prophylaxis and treatment of pulmonary anthrax.
In December 2019, BARDA awarded Paratek a contract valued at up to approximately $285 million. With the additional funding, the contract is now valued at roughly $304 million.
BARDA and Paratek have formalized their previously communicated agreement to trigger the next procurement on positive top-line data from the efficacy study of inhalation anthrax in rabbits, which Paratek currently anticipates will be available in 2H of 2022.
BARDA and Paratek have also agreed on specific development milestones to trigger the third and fourth procurements.
Also Read: Paratek Stock Is Trading Higher As CDC Adds Nuzyra As Recommended Antibiotic For Plague Treatment
Price action: PRTK stock is down 2.91% at $5.00 during the premarket session on the last check Tuesday.