Iterum Therapeutics (ITRM) Stock Jumps over 100% On Positive Pre-NDA Meeting

Pharmaceutical company Iterum Therapeutics (NASDAQ: ITRM) has revealed its plan to proceed with a New Drug Application (NDA) for sulopenem etzadroxil/probenecid, a tablet, for the treatment of urinary tract infections.

The company said it had a positive pre-NDA meeting with the FDA and was pleased with how it went, stating that they believe they now have an understanding of the agency’s requirements for its submission.

Corey Fishman, Iterum Chief Executive Officer, said the company “have confidence in our decision to move forward with our NDA package for sulopenem etzadroxil/probenecid for the treatment of uUTI due to quinolone-resistant pathogens.

WELCOME BONUS - Free Share Bundle When You Invest £50! Get up to £500 cashback for investing with IG.

Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.

5.0

Open Account Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

“We estimate that there are over 6 million quinolone-resistant urinary tract infections annually in the U.S., many of which are also multi-drug resistant, and sulopenem has demonstrated superiority versus ciprofloxacin in treating these infections.”

The news has resulted in a strong rally for Iterum’s stock price, moving from yesterday’s close of $0.64 to $1.32 per share after a 106% move.

PEOPLE WHO READ THIS ALSO VIEWED:

• CTI Biopharma stock surges over 175%, here’s why…
• Trade stocks with eToro
• Compare these top-rated stockbrokers