Iterum Therapeutics plc (NASDAQ:ITRM) stock revealed change of 14.29% away from 52-week low price and recently located move of -79.36% off 52-week high price. It has market worth of $31.68M. ITRM stock has been recorded -36.21% away from 50 day moving average and -58.38% away from 200 day moving average. Moving closer, we can see that shares have been trading -25.32% off 20-day moving average.
On March 12, 2020, Iterum Therapeutics plc (NASDAQ:ITRM) 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, revealed financial results for the fourth quarter and year ended December 31, 2019.
2019 was a year of incredible progress for Iterum. We completed enrollment in all three Phase 3 clinical trials of sulopenem and reported topline results from our complicated intra-abdominal infections (cIAI) trial, said Corey Fishman, Chief Executive Officer of Iterum Therapeutics plc. 2020 is a pivotal year for the company. We started the year by raising additional capital to fund the company through topline results of the remaining two Phase 3 studies, complicated urinary tract infections (cUTI) and uncomplicated urinary tract infections (uUTI), planned submission of two new drug applications (NDAs) to the U.S. Food and Drug Administration (FDA) and preparations for a potential commercial launch in 2021.
2019 Highlights and Recent Events
- Completed enrollment in all Phase 3 pivotal clinical trials: In the fourth quarter of 2019, Iterum completed patient enrollment in its two remaining clinical trials, Sulopenem for Resistant Enterobacteriaceae (SURE) 1 in uUTI and SURE 2 in cUTI. Overall, more than 3,700 patients were enrolled in our Phase 3 clinical trials of sulopenem since initiation in the third quarter of 2018.
- Announced topline results in first Phase 3 trial: In December 2019, Iterum announced that it narrowly missed the primary endpoint of its SURE 3 clinical trial cIAI. While the trial narrowly missed the primary endpoint, we believe the secondary supporting analysis and safety data support the potential for sulopenem in the treatment of multi-drug resistant infections.
- Strengthened the balance sheet: Iterum raised approximately $51.6 million ($46.7 million net of fees and expenses) in January 2020 through a private placement of units comprised of approximately (i) $51.6 million aggregate principal amount of its 6.500% exchangeable senior subordinated notes due 2025 and (ii) $0.1 million aggregate principal amount of its limited recourse royalty-linked senior subordinated notes.
- Filed two non-provisional patent applications with United States Patent and Trademark Office: One patent application addressed the effect of probenecid on the plasma concentrations of sulopenem after multi-day dosing and the second patent application related to a method of preparing a bilayer tablet composed of sulopenem etzadroxil and probenecid which resulted in an increase in the amount of sulopenem in the blood relative to dosing each agent in a separate formulation. If either patent is granted, it would provide 20 years of intellectual property protection for oral sulopenem from the date the non-provisional patent application was filed (to 2039). The current U.S. composition of matter patent on sulopenem etzadroxil expires in 2029 with potential extension to 2034 under the Hatch-Waxman Act.
The Healthcare sector company, Iterum Therapeutics plc noticed change of 4.92% to $1.92 along volume of 53045 shares in recent session compared to an average volume of 285.80K shares. The stock observed return of -17.60% in 5 days trading activity. The stock was at -25.30% over one month performance. ITRM’s shares are at -38.46% for the quarter and driving a -61.75% return over the course of the past year and is now at -57.33% since this point in 2018.
The average volatility for the week at 15.55% and for month was at 13.94%. There are 16.50M shares outstanding and 14.34M shares are floated in market.