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