Iterum Therapeutics Plc Stock Price, News & Analysis

Iterum Therapeutics plc (Nasdaq: ITRM), a clinical-stage pharmaceutical company, announced its participation in the H.C. Wainwright 24th Annual Hybrid Global Investment Conference on September 14, 2022, at 12:00 PM (ET). CEO Corey Fishman and CFO Judy Matthews will present a company overview and business update. Investor meetings are scheduled for September 13-14, 2022. The presentation will be accessible for 90 days on the company's website under the 'Investors' section. Iterum focuses on developing innovative antibiotics like sulopenem, which is in Phase 3 clinical development.

Iterum Therapeutics (Nasdaq: ITRM) announced it has regained compliance with Nasdaq's minimum bid price requirement after its shares maintained a closing bid price of over $1.00 for ten consecutive trading days, as of August 31, 2022. Previously, the company faced non-compliance issues that began in September 2021, receiving extensions to meet the requirement. Now, Iterum is in compliance with all listing standards and will continue to trade on the Nasdaq Capital Market.

Iterum Therapeutics plc (Nasdaq: ITRM) announced a 1-for-15 reverse share split effective at 5:00 p.m. ET on August 17, 2022, with trading to commence on August 18. This move follows shareholder approval at the AGM on June 15, 2022, to comply with Nasdaq's minimum $1.00 per share requirement. Post-split, outstanding shares will decrease from approximately 183.3 million to about 12.2 million. The nominal value of shares will adjust from $0.01 to $0.15. The reverse split also affects other equity instruments and does not create fractional shares, offering cash payments instead.

Iterum Therapeutics (ITRM) announced a planned Phase 3 clinical trial for oral sulopenem targeting uncomplicated urinary tract infections (uUTI), set to begin enrollment in Q4 2022. The company secured a Special Protocol Assessment (SPA) agreement with the FDA, which validates the trial design. Financially, Iterum reported a cash position of $68.9 million as of June 30, 2022, sufficient to fund operations into 2024. However, the net loss increased to $6.7 million for Q2 2022, contrasting with a net income of $7.8 million in Q2 2021.

Iterum Therapeutics announced an agreement with the FDA under the Special Protocol Assessment (SPA) for a Phase 3 clinical trial of oral sulopenem in treating uncomplicated urinary tract infections (uUTI). The SPA confirms the trial's design, endpoints, and statistical analysis are sufficient for a potential resubmission of the new drug application (NDA). The study aims to enroll about 1,966 patients and will compare oral sulopenem to Augmentin, with recruitment expected to start in Q4 2022.

Iterum Therapeutics plc (Nasdaq: ITRM) announced the granting of a non-statutory share option to purchase 10,000 ordinary shares to a newly hired employee, effective July 5, 2022. The exercise price is set at $0.22 per share, matching the closing price on the grant date. This 10-year option vests on August 30, 2023, contingent on continued employment. The grant aligns with Nasdaq Listing Rule 5635(c)(4) as part of the new hire's compensation package.

Iterum focuses on developing next-generation antibiotics to combat multi-drug resistant pathogens, with its lead compound sulopenem in Phase 3 development.

Iterum Therapeutics (Nasdaq: ITRM) has granted a non-statutory share option for 35,000 ordinary shares to a newly hired employee as part of their compensation. The option, effective June 13, 2022, has an exercise price of $0.21 per share and a 10-year term, vesting over four years. This grant aligns with Nasdaq's inducement grant exception, aimed at attracting talent. Iterum is advancing sulopenem, a novel anti-infective, through Phase 3 clinical trials, targeting multi-drug resistant pathogens.

Iterum Therapeutics (ITRM) announced financial results for Q1 2022, revealing a net loss of $3.5 million, significantly improved from $98.9 million in Q1 2021. The company is in alignment with the FDA regarding a new trial for oral sulopenem targeting uncomplicated urinary tract infections, aiming for a potential NDA resubmission. With $75.3 million in cash reserves, Iterum projects a cash runway into 2024. R&D expenses rose to $3.4 million while G&A expenses increased to $3.9 million due to higher share-based compensation.

Iterum Therapeutics plc (Nasdaq: ITRM) announced a meeting with the FDA on May 5, 2022, regarding plans for an additional Phase 3 trial of oral sulopenem aimed at treating uncomplicated urinary tract infections (uUTI). The company reported reaching alignment with the FDA on trial design, which will compare oral sulopenem with Augmentin® in adult women. Iterum plans to seek a Special Protocol Assessment (SPA) agreement from the FDA and aims to start patient enrollment in the second half of 2022. The outcome of the SPA agreement is crucial but does not guarantee FDA approval.