Iterum Therapeutics Announces Pricing of $17.5 Million Upsized Public Offering

Nachrichtenquelle: globenewswire
23.10.2020, 06:02  |  191   |   |   

DUBLIN, Ireland and CHICAGO, Oct. 23, 2020 (GLOBE NEWSWIRE) -- 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, today announced the pricing of a public offering of 26,923,076 ordinary shares (or pre-funded warrants in lieu thereof), together with warrants to purchase up to 20,192,307 ordinary shares at a combined effective price to the public of $0.65 per ordinary share (or pre-funded warrant) and associated warrant. The warrants will have an exercise price of $0.65 per share, are exercisable upon issuance, and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about October 27, 2020, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds to the Company from the offering are expected to be approximately $17.5 million, before deducting the placement agent’s fees and other offering expenses payable by Iterum Therapeutics. The Company intends to use the net proceeds from this offering to support its planned New Drug Application submission for oral sulopenem for the treatment of uncomplicated urinary tract infections in patients with quinolone-resistant pathogens, the continued clinical development of sulopenem, and for working capital and general corporate purposes.

A registration statement on Form S-1 (File No. 333-249432) relating to these securities has been filed with the Securities and Exchange Commission, or the SEC, and was declared effective by the SEC on October 22, 2020, and an additional registration statement on Form S-1 filed pursuant to Rule 462(b) which became automatically effective on October 22, 2020. The offering will be made only by means of a prospectus, which is part of the effective registration statement. When available, electronic copies of the final prospectus may be obtained for free on the SEC’s website located at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996, or by email to placements@hcwco.com.

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Iterum Therapeutics Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



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Iterum Therapeutics Announces Pricing of $17.5 Million Upsized Public Offering DUBLIN, Ireland and CHICAGO, Oct. 23, 2020 (GLOBE NEWSWIRE) - 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 …

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