Will Iterum Therapeutics (ITRM) Stock Move Back To $2 Today?

The Iterum Therapeutics (NASDAQ:ITRM) stock has been in action during premarket trading this morning and has managed to clock gains of 22% so far.

Will Iterum Therapeutics (ITRM) Stock Move Back To $2 Today?

On Thursday, the company announced that the United States Food and Drug Administration has decided that it’s not necessary to have an advisory committee meeting in relation to Iterum’s New Drug Application for the product sulopenem. The product is meant for the treatment of urinary tract infections.

It proved to be a massive boost to the stock yesterday as investors piled on it in a big way following the announcement. The company went on to state that the FDA is still on course in relation to the PDUFA date of July 25, 2021. It was last month that Iterum had announced that the FDA had asked for more time to review its new drug application for the product. It is now going to be interesting to see if the stock ends the week on with further gains.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.