The Iterum Therapeutics Inc (NASDAQ: ITRM) stock had a pretty disappointing end to the week as it slumped sharply on Friday.
Back on Thursday, the company received a notice from the United States Food and Drug Administration with regards to its product sulopenem etzadroxil/probenecid. The regulator stated that it would need more time in reviewing the documents that have been submitted by Iterum pertaining to its New Drug Application. It proved to be a blow to the Iterum stock and on Friday, it tanked by as low as 18% on the back of the development.
On the other hand, last week the company also announced that its Chief Executive Officer Corey Fishman is going to make a presentation at a key industry event. The event in question is 20th Annual Needham Virtual Healthcare Conference that is going to be held on April 15, 2021. Fishman is going to provide a business update and also provide an overview of Iterum.