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Paratek Announces Closing of Common Stock Offering

BOSTON, May 5, 2015 (GLOBE NEWSWIRE) -- Paratek Pharmaceuticals, Inc. (Nasdaq:PRTK), a pharmaceutical company focused on the development and commercialization of innovative, antibacterial therapies based upon tetracycline chemistry, has completed its previously announced offering of 3,089,000 shares of common stock at a public offering price of $24.50, which includes 229,000 shares of common stock issued upon the exercise, in part, by the underwriters of an option to purchase additional shares from Paratek. The aggregate net proceeds before expenses to Paratek are approximately $71.1 million, after deducting underwriting discounts and commissions.

Leerink Partners and Guggenheim Securities served as joint book-running managers. Ladenburg Thalmann acted as lead manager with BTIG and Cantor Fitzgerald & Co. as co-managers.

Paratek intends to use the net proceeds from the offering to fund ongoing and planned clinical trials of omadacycline, to fund research and development to advance its pipeline of preclinical product candidates, and for working capital and other general corporate purposes.

The offering was made only by means of a prospectus and pursuant to a shelf registration statement declared effective by the Securities and Exchange Commission on April 27, 2015. Copies of the prospectus supplement related to the offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus, relating to the securities offered may also be obtained by contacting Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, email: Syndicate@Leerink.com, phone: (800) 808-7525 ext. 6142; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Ave, 8th Floor, New York, NY 10017, email: GSEquityProspectusDelivery@guggenheimpartners.com, phone: (212) 518-9349; Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, email: prospectus@ladenburg.com; BTIG, LLC, 825 3rd Ave, 6th FL, New York, NY 10022, email: USSyndicate@btig.com; or Cantor Fitzgerald & Co., 499 Park Avenue, 5th Floor, New York, NY 10022 Attention: Capital Markets, email: Prospectus@Cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

CONTACT: Media Relations: Michael Lampe (484) 575-5040 michael@michaellampeconsulting.com Investor Relations: Hans Vitzthum LifeSci Advisors, LLC. (212) 915-2568Source:Paratek Pharmaceuticals