Paratek Announces Proposed Public Offering of Common Stock

BOSTON, April 27, 2015 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq: PRTK), a pharmaceutical company focused on the development and commercialization of innovative, antibacterial therapies based upon tetracycline chemistry, today announced that it has commenced a proposed underwritten public offering of $60 million of its common stock. In addition, Paratek expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 15 percent of the number of shares of its common stock sold in the offering at the public offering price, less underwriting discounts and commissions. All of the shares are being offered by Paratek.

Leerink Partners and Guggenheim Securities are acting as joint book-running managers. Ladenburg Thalmann is acting as lead manager. BTIG and Cantor Fitzgerald & Co. are acting as co-managers. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering will be completed, or as to the actual size or terms of the offering.

Paratek intends to use the net proceeds from the offering to fund ongoing and planned clinical trials of omadacycline, to fund research and development to advance its pipeline of preclinical product candidates, and for working capital and other general corporate purposes.

The offering will be made only by means of a prospectus and pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on April 27, 2015. Copies of the prospectus for this offering may be obtained, when available, by contacting Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, email: [email protected], phone: (800) 808-7525 ext. 6142; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave, 8th Floor, New York, NY 10017, email: [email protected], phone: (212) 518-9349; Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, email: [email protected]; BTIG, LLC, 825 3rd Ave, 6th FL, New York, NY 10022, email: [email protected]; or Cantor Fitzgerald & Co., 499 Park Avenue, 5th Floor, New York, NY 10022 Attention: Capital Markets, email: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

CONTACT: Media Relations:
         Michael Lampe
         (484) 575-5040
         [email protected]

         Investor Relations:
         Hans Vitzthum
         LifeSci Advisors, LLC.
         (212) 915-2568

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