Antibiotics developer Paratek Pharmaceuticals Inc. is hoping to get back on track after it halted a Phase III trial for its lead candidate due to updated FDA guidance. The subsequent delays caused partner Novartis AG to terminate a partnership for the candidate. Now Paratek hopes public investors will assume the risk that Novartis declined.
Boston-based Paratek plans to raise up to $92 million in the offering, primarily to fund late-stage trials on broad-spectrum antibiotic omadacycline in acute bacterial skin and skin structure infections. The...