Antibiotics developer Paratek Pharma files for $92M IPO

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Can public investors get excited about an antibiotics developer's IPO? Paratek Pharmaceuticals aims to test their interest. The Boston biotech has proposed an initial public offering of up to $92 million as the company forges ahead with plans for Phase III development of omadacycline, a broad-spectrum antibiotic being tested for patients with drug-resistant infections. The company, founded in 1996, has traveled a long way to reach this point, but it says some of its collaborators such as Novartis ($NVS) opted not to stay along for the ride over what the company calls "uncertainties in connection with the regulatory pathway for approval of omadacycline in core indications." The FDA recently formed a task force to seek ways to promote the development of next-generation antibiotics as patients face the growing threat of MRSA and other antibiotic-resistant bugs, a sign that the agency might amend its ways to help developers bring new anti-bacterial drugs to market. Here's the S-1 filing.

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