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BUZZ-Optinose rises on Paratek Pharma's acquisition deal of up to $330 million

Reuters
03-20
BUZZ-Optinose rises on Paratek Pharma's acquisition deal of up to $330 million

** Shares of drug developer Optinose OPTN.O rise 60% to $9.60 premarket

** OPTN says privately held Paratek Pharmaceuticals will acquire co and its nasal spray, Xhance, for up to $330 million

** Xhance is used for treating type of long-term sinus and nasal passage inflammation called chronic rhinosinusitis

** Deal offers potential consideration of up to $14 per share, including upfront consideration of $9 per share, which represents 50% premium to stock's last close

** Up to last close, OPTN down 76.7% in past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

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