In This Story
Iterum Therapeutics plc (ITRM+1.27%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss of $6,094,000, compared to a net loss of $3,877,000 in the same period the previous year.
Research and development expenses decreased to $3,107,000 from $14,852,000, attributed to reduced costs in clinical trials and personnel.
General and administrative expenses were $1,780,000, slightly down from $1,833,000 in the previous year, with reductions in personnel-related costs.
The company reported an operating loss of $4,887,000, compared to $16,685,000 in the previous year, reflecting lower research and development expenses.
Interest expense increased to $590,000 from $300,000, primarily due to decreased interest income.
Cash and cash equivalents, along with short-term investments, totaled $14,502,000 as of September 30, 2024.
Iterum completed a rights offering in August 2024, raising net proceeds of $5,400,000.
The company received FDA approval for ORLYNVAH™ in October 2024, which is expected to impact future financial performance.
Iterum continues to evaluate strategic alternatives, including potential sales or licensing of its sulopenem program, to maximize stakeholder value.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Iterum Therapeutics plc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.