IPO hope for post-Novartis antibiotic developer Paratek

Paratek Pharmaceuticals has filed initial registration documents for an IPO in a move that signals hope for its Phase III-ready novel antibiotic omadacycline. The firm was down to $3.3 million in cash and cash equivalents at the end of June, and its development programme had effectively been stalled by the withdrawal of Novartis less than two years into their partnership for the product, formerly known as PTK0796, last August.