BOSTON, June 20, 2016 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK), a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon tetracycline chemistry, today announced that it has commenced a proposed underwritten public offering of 3,750,000 shares 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. 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, together with its existing capital resources, to fund its planned clinical studies of omadacycline, including an oral-only Phase 3 study of omadacycline for the treatment of acute bacterial skin and skin structure infections, to fund activities required to support a new drug application submission for omadacycline for the treatment of acute bacterial skin and skin structure infections and community-acquired bacterial pneumonia, including manufacture of registration and validation batches and establishment of secondary manufacturing suppliers for its active pharmaceutical ingredient and drug product and for working capital and other general corporate purposes.

The offering will be made pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission (the “SEC”) on April 27, 2015 and a related preliminary prospectus supplement filed with the SEC on June 20, 2016. Before you invest, you should read the prospectus in the registration statement and the related preliminary prospectus supplement that Paratek has filed with the SEC for more complete information about Paratek and this offering.