Paratek Pharmaceuticals, Inc.

Paratek reported first-quarter 2023 total revenue of $31.2 million versus $24.9 million in the prior-year quarter. NUZYRA net US sales were $26.2 million, up 32% from $19.9 million; government contract, service and grant revenue was $3.8 million versus $4.3 million; and collaboration and royalty revenue was $1.2 million versus $0.7 million. R&D expense was $7.3 million versus $7.5 million, and SG&A was $33.5 million versus $27.6 million. The company ended the quarter with $45 million of cash and cash equivalents as of March 31, 2023. For 2023, Paratek reiterated total revenue guidance of $143 million to $158 million, core commercial revenue guidance of $125 million to $135 million, and expense guidance of $160 million to $170 million, including $145 million to $150 million of core business R&D and SG&A plus $15 million to $20 million of reimbursable BARDA, R&D and US onshore expenses.

Evan Loh framed NUZYRA as one of the most successful IV/oral antibiotic launches in the last decade and highlighted that core commercial growth remained on a strong year-over-year trajectory. He pointed to a trailing 12-month revenue milestone above $100 million, improvement in sales momentum late in the quarter and into April, and early signs of a better hospital environment. Strategically, he emphasized three growth paths: core commercial execution, NTM development and partnering, and US government opportunities. His tone was confident and focused on sustained growth, partnerships, and the path to profitability through expense discipline.

On the financial side, Evan Loh detailed that Q1 revenue of $31.2 million included $26.2 million of NUZYRA sales, $3.8 million of BARDA-related revenue, and $1.2 million of collaboration and royalty revenue. He said R&D was $7.3 million and SG&A was $33.5 million, with the SG&A increase driven mainly by the NUZYRA community expansion. He also said Paratek is targeting full-year 2023 expense of $160 million to $170 million, or about $20 million below an annualized Q4 2022 spend base excluding the one-time charge, and that this reflects operational efficiencies such as lower consultant, agency, and noncritical spend. Cash and cash equivalents were $45 million at quarter-end.

Analysts pressed on the operational efficiencies behind the lower expense target, and management said the savings would come from reduced consultant, agency, and noncritical spending while preserving top-line growth. Questions on NTM focused on enrollment status and medical feedback; management would not disclose exact enrollment but said the study remained on track for completion by year-end and that inbound interest in NTM continues to grow, supported by publications and ECCMID data. On Japan, management said a formal PMDA meeting clarified the path for a relatively small single phase 3 study of about 100 subjects, leading to multiple nonbinding indications of interest and confidence in closing a deal by year-end. They also said South Korea and Europe are possible adjacent opportunities, but Japan is the current focus of inbound interest.