Iterum Therapeutics CMO Departs; Filings Made

TL;DR

Iterum's CMO is out, other filings made. No major financial news.

AI Summary

Iterum Therapeutics plc announced on May 29, 2024, the departure of its Chief Medical Officer, Dr. Corey Fishman. The company also reported on compensatory arrangements for its officers and filed financial statements and exhibits. No specific dollar amounts or new appointments were detailed in this filing.

Why It Matters

The departure of a Chief Medical Officer can signal shifts in the company's R&D strategy or pipeline development.

Risk Assessment

Risk Level: medium — The departure of a key executive like the CMO can introduce uncertainty regarding the company's future direction and drug development progress.

Key Players & Entities

• Iterum Therapeutics plc (company) — Registrant
• Dr. Corey Fishman (person) — Chief Medical Officer who departed
• May 29, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — registered Ordinary Shares, par value $0.01 per share ITRM The Nasdaq Stock Mar
• $400 — unta is entitled to a consulting fee of $400 per hour. Either party may terminate th
• $6,403,000 — rs' equity (deficit) of the Company of ($6,403,000) as of December 31, 2023, as reported i
• $2,500,000 — mum stockholders' equity requirement of $2,500,000 and (ii) the Company did not, as of Apr

Filing Documents

• itrm-20240529.htm (8-K) — 50KB
• itrm-ex99_1.htm (EX-99.1) — 15KB
• 0000950170-24-066932.txt ( ) — 187KB
• itrm-20240529.xsd (EX-101.SCH) — 26KB
• itrm-20240529_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. Acceptance of plan for regaining compliance with Nasdaq Listing Rule 5550(b)(1) As previously disclosed, on April 3, 2024, the Company received a letter from Nasdaq Stock Market LLC ("Nasdaq") indicating that it was not in compliance with Nasdaq Listing Rule 5550(b)(1), because (i) the stockholders' equity (deficit) of the Company of ($6,403,000) as of December 31, 2023, as reported in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, was below the minimum stockholders' equity requirement of $2,500,000 and (ii) the Company did not, as of April 3, 2024, meet the alternatives standards of market value of listed securities or net income from continuing operations for compliance with Nasdaq Listing Rule 5550(b)(1). The letter indicated that the Company had a period of 45 calendar days from the date of the letter to submit a plan to regain compliance. The Company submitted its plan to regain compliance to Nasdaq on May 20, 2024. On May 29, 2024, the Company received a letter from Nasdaq notifying the Company that Nasdaq had reviewed the Company's plan for regaining compliance with Nasdaq Listing Rule 5550(b)(1) and granted the Company a 180-calendar day extension from April 3, 2024 (or until September 30, 2024) to evidence compliance with Nasdaq Listing Rule 5550(b)(1). If the Company fails to evidence compliance with Nasdaq Listing Rule 5550(b)(1) on or before September 30, 2024, the Company may be subject to delisting. Were this to occur, Nasdaq will provide the Company notice that the Company's ordinary shares are to be subject to delisting. At that time, the Company may appeal the delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal any delisting determination by Nasdaq to the panel, that such appeal would be successful. The Company intends to take all reasonable measures

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of Iterum Therapeutics plc dated May 31, 2024

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Iterum Therapeutics plc Date: May 31, 2024 By: /s/ Corey N. Fishman Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR