BOSTON, Sept. 01, 2017 (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 on August 31,
2017, the Company granted stock options and restricted stock units to seven new employees of the Company. These awards were granted
pursuant to the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, which was approved by the Company's board of directors on June
15, 2017, under Rule 5635(c)(4) of the NASDAQ Listing Rules, for equity grants to employees entering into employment or returning
to employment after a bona fide period of non-employment with the Company, as an inducement material to such individuals entering
into employment with the Company.
The stock options are to acquire, in the aggregate, 60,500 shares of the Company’s common stock at a per share exercise price of
$28.20, the closing sales price on August 31, 2017, and shall vest over a four-year vesting period, under which 25% of the shares
will vest after 12 months of employment, with the remaining shares vesting monthly thereafter over the remaining 36-month period,
subject to the employee’s continuous service. The restricted stock units are to acquire, in the aggregate, 5,500 shares of the
Company’s common stock, and shall vest upon the conclusion of a 36-month vesting period, under which 100% of the restricted
stock units will vest after 36 months of employment, subject to the employee’s continuous service. The stock options and restricted
stock units are subject to the terms and conditions of the Paratek Pharmaceuticals, Inc. 2017 Inducement Plan, and the terms and
conditions of the stock option agreement and restricted stock unit award agreement covering each grant.
About Paratek Pharmaceuticals, Inc.
Paratek Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative
therapies based upon its expertise in novel tetracycline chemistry. The Company’s lead product candidate, omadacycline, is a new,
once-daily oral and intravenous broad-spectrum antibiotic being developed for the treatment of serious community-acquired bacterial
infections, including community-acquired bacterial pneumonia (CABP), acute bacterial skin and skin structure infections (ABSSSI),
and urinary tract infections. Omadacycline has been granted Qualified Infectious Disease Product designation and Fast Track status
by the U.S. Food and Drug Administration for the target indications. Paratek has completed Phase 3 development activities for
omadacycline in CABP and ABSSSI and is preparing to submit marketing applications in the United States and European Union. Paratek
has licensed rights for omadacycline to Zai Lab for the greater China region, and retains all remaining global rights.
Under a research agreement with the U.S. Department of Defense, omadacycline also is being studied against pathogenic agents
causing infectious diseases of public health and biodefense importance, including plague and anthrax.
Paratek's second Phase 3 product candidate, sarecycline, is being developed by Allergan in the U.S. as a new once-daily oral
therapy for the treatment of acne. Allergan has completed Phase 3 development activities for sarecycline and is preparing a new
drug application for submission to the U.S. Food and Drug Administration. Paratek retains all ex-U.S. rights to sarecycline.
Recognizing the serious threat of bacterial infections, Paratek is dedicated to providing solutions that enable positive
outcomes and lead to better patient stories.
For more information, visit www.paratekpharma.com or follow @ParatekPharma on Twitter.
Forward Looking Statements
This press release contains forward-looking statements
including statements related to our overall strategy, product candidates, clinical studies, prospects, potential and expected
results, including statements about the timing of advancing omadacycline and otherwise preparing for clinical studies, the timing
of enrollment in our clinical studies and our reporting of the results of such studies, the potential for omadacycline to serve as
an empiric monotherapy treatment option for patients suffering from ABSSSI, CABP, UTI, and other bacterial infections when
resistance is of concern, the prospect of omadacycline providing broad-spectrum activity, and our ability to obtain regulatory
approval of omadacycline All statements, other than statements of historical facts, included in this press release are
forward-looking statements, and are identified by words such as "advancing," "believe," "expect," "well positioned," "look
forward," "anticipated," "continued," and other words and terms of similar meaning. These forward-looking statements are based upon
our current expectations and involve substantial risks and uncertainties. We may not actually achieve the plans, carry out
the intentions or meet the expectations or projections disclosed in our forward-looking statements and you should not place undue
reliance on these forward-looking statements. Our actual results and the timing of events could differ materially from those
included in such forward-looking statements as a result of these risks and uncertainties. These and other risk factors are
discussed under "Risk Factors" and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and our
other filings with the Securities and Exchange Commission. We expressly disclaim any obligation or undertaking to update
or revise any forward-looking statements contained herein.
CONTACTS: Media Relations: Michael Lampe (484) 575-5040 michael@scientpr.com Investor Relations: Hans Vitzthum LifeSci Advisors, LLC. 212-915-2568
