Paratek Pharmaceuticals, the Boston biotech company with operations in King of Prussia, recently saw its stock soar 23 percent to $22.85 a share following positive late-stage testing results for its lead drug candidate omadacycline, writes John George for Philadelphia Business Journal.
“This successful study demonstrates the potential of omadacycline to treat community-acquired bacterial pneumonia,” said Michael Bigham, Chairman and CEO of Paratek.
Paratek has been expanding in Montgomery County, including moving its 30 local employees into a bigger office space in King of Prussia in preparation for adding 65 more.
Read more about Paratek’s success at Philadelphia Business Journal by clicking here.
