Iterum Therapeutics Regains Compliance with Nasdaq Bid Price Rule
December 04 2023 - 8:00AM
Iterum Therapeutics plc (Nasdaq: ITRM) (the “Company”), a
clinical-stage pharmaceutical company focused on developing next
generation oral and IV antibiotics to treat infections caused by
multi-drug resistant pathogens in both community and hospital
settings, today announced that it has received a letter from the
Listing Qualifications Department of The Nasdaq Stock Market LLC
(“Nasdaq”) notifying the Company that it has regained compliance
with the minimum bid price requirement under Nasdaq Listing Rule
5550(a)(2) (the "Bid Price Rule") for continued listing on The
Nasdaq Capital Market.
The Company was previously notified on September
26, 2023, that it was not in compliance with the Bid Price Rule
because its ordinary shares failed to meet the closing bid price
of $1.00 or more for 30 consecutive business days. In
accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was
provided with 180 calendar days, or until March 25, 2024, to regain
compliance. To regain compliance with the Bid Price Rule, the
Company was required to maintain a minimum closing bid price
of $1.00 or more for at least 10 consecutive trading
days. This requirement was met on November 30, 2023, the tenth
consecutive trading day when the closing bid price of the Company's
ordinary shares was over $1.00.
About Iterum Therapeutics
plc
Iterum Therapeutics plc is a clinical-stage
pharmaceutical company dedicated to developing differentiated
anti-infectives aimed at combatting the global crisis of multi-drug
resistant pathogens to significantly improve the lives of people
affected by serious and life-threatening diseases around the world.
Iterum Therapeutics is advancing its first compound, sulopenem, a
novel penem anti-infective compound, in Phase 3 clinical
development with an oral formulation and IV formulation. Sulopenem
has demonstrated potent in vitro activity against a wide variety of
gram-negative, gram-positive and anaerobic bacteria resistant to
other antibiotics. Iterum Therapeutics has received Qualified
Infectious Disease Product (QIDP) and Fast Track designations for
its oral and IV formulations of sulopenem in seven indications.
Investor Contact:Judy
Matthews Chief Financial
Officer312-778-6073IR@iterumtx.com
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