Why Paratek Pharmaceuticals Stock Is Sinking Today

The big decline came after the company announced that it's lowering its 2021 revenue outlook by around $38 million following discussions with the Biomedical Advanced Research and Development Authority (BARDA). You might not think that a revenue outlook cut of $38 million is a big deal. Paratek said that after talking with BARDA, "the timing of future procurements [of antibiotic drug Nuzyra] and the definition of progress of the program will be linked to specific development milestones."