With the start of a new trading session, Iterum Therapeutics plc (ITRM) loses 6.07% of the value per share. Now, it is trading at $0.5794. Today, Iterum Therapeutics, a pharmaceutical business in the early stages of development, released its financial results for 3Q21. During Q3, ITRM conducted a productive Type A meeting with the Food And Drug Administration, at which multiple potential pathways ahead for resubmitting the company’s NDA for oral sulopenem for the treatment of uUTI were considered. CEO of Iterum Therapeutics believes that the company has a good opportunity to fund operations into 2024 as it had almost 180M ordinary shares outstanding after Q3 ended.
In the third quarter of 2021, research and development costs were $1.8M, compared to $3.9M in the same time of 2020. The decline was mostly due to Iterum’s Phase 3 clinical studies coming to an end in 2020. And G&A expenses amounted to $3M compared to the same period last year when there was $2.4M. The increase was mostly attributable to a rise in employee and director remuneration based on the share. Today, the company hit a market cap of 111.31M and the volume is 4,688,403 shares.