Iterum rises on plans to submit marketing application for UTI drug earlier

Iterum Therapeutics

06/03/2024 14:26

** Shares of drug developer Iterum Therapeutics  ITRM.O 
rise 10.7% to $1.40 premarket    
    ** Co says it expects to resubmit the marketing application
for its experimental antibiotic drug for uncomplicated urinary
tract infections (uUTI) in the first half of Q2, earlier than
originally planned
    ** The U.S. FDA had declined to approve the drug sulopenem
in 2021 
    ** If the resubmission addresses all of the deficiencies
noted by the FDA, ITRM expects the regulator to complete its
review and take action six months from the date it receives the
application, or during the first half of Q4
    ** Up to last close, stock up 3.7% in the last 12 months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))