Why Paratek Pharmaceuticals Crushed the Market Today

Shares of Paratek Pharmaceuticals (NASDAQ: PRTK) flew nearly 20% higher on Tuesday, on an otherwise forgettable day for the stock market. Paratek announced that the U.S. Food and Drug Administration (FDA) approved its supplemental New Drug Application (NDA) for the oral-only formulation of Nuzyra to treat adults suffering from community-acquired bacterial pneumonia (CABP), a lung disease. Previously, the FDA had approved Nuzyra in 2018 as a once-per-day oral and intravenous treatment for CABP, in addition to acute bacterial skin skin and skin structure infections (ABSSI).