Paratek Pharma: Hits record low as UTI drug fails to impress in study

Paratek Pharmaceuticals

01/11/2019 14:32

** Shares of drug developer  PRTK.O  plunge 12.6% to hit a
record low of $2.69 
    ** PRTK, which is the top pct loser across U.S. stocks, is
set for worst day since April 2018
    ** Says mid-stage studies to assess treatment in patients
with two common forms of urinary tract infections showed lower
responses microbiologically  urn:newsml:reuters.com:*:nGNX32zTzd
    ** Due to small patient population in trials, co says it
requires additional investigation before determining further
development plans
    ** BTIG does not see sufficient conviction to support
further development of the therapy to treat UTI; lowers PT by $5
to $36 vs. median PT is $19.50
    ** PRTK has lost half its value this year 

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 7786))