Paratek takeover talk resurfaces to send shares upwards

Renewed talk of a takeover prompted shares in US biopharma Paratek Pharmaceuticals (Nasdaq: PRTK) to rise by 27% on Wednesday.

While in May, it was UK newspaper the Financial Times talking up the company’s prospects for a sale and suggesting that Ireland-incorporated Allergan (NYSE: AGN) had already tabled indicative terms, this time a Bloomberg report seemed to start the rumors flying.

Paratek’s attractiveness as a takeover target would not have been harmed last month when earlier positive trial results in community-acquired pneumonia for its antibiotic omadacycline were followed by data showing that the same drug had met the primary endpoints of a Phase III trial in treatment adults with acute bacterial skin and skin structure infections.