BTIG cuts PT for Paratek Pharma over lead product's commercial prospects

Paratek Pharmaceuticals

11/04/2022 15:39

** BTIG cuts PT for biopharma company  PRTK.O  to $30 from
$34 as it sees co's lead product facing potential institutional
access challenges
    ** Nuzyra is PRTK's lead commercial product for treatment of
bacterial pneumonia and acute skin infections
    ** Brokerage says hospital access for Nuzyra remained
somewhat cumbersome in Q4 due to lingering effects of COVID that
affected institutional access and penetration, though this
appears to be improving as conditions normalize
    ** Due to these challenges, brokerage is lowering Nuzyra
commercial revenue estimates in 2022 and in outer years
    ** Estimates Nuzyra U.S. commercial revenue of $105 mln in
2022 vs prior guidance of $134 mln

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))