Why this King of Prussia biopharma's stock rose 32% Thursday

Paratek Pharmaceuticals's stock closed up 32% Thursday after the biopharmaceutical company announced it was awarded a five-year contract worth up to $285 million from the federal government. The funds will support the development of the company's antibiotic Nuzyra as a treatment of pulmonary anthrax. The contract was awarded under the Biomedical Advanced Research and Development Authority's, or BARDA, Project BioShield program. The initiative was created to accelerate the research, development,…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news