Company: Iterum Therapeutics plc
Symbol: ITRM
Description: They are a pharmaceutical company dedicated to developing and commercializing sulopenem to be potentially the first and only oral and intravenous (IV) branded penem available globally.
Trade Date: 5/25
Shares: 5.33 million
Price Range: $14.00-$16.00
Underwriter(s): Leerink Partners, RBC Capital Partners
Co-Manager(s): Guggenheim Securities, Needham & Co.
Terms Added: 5-16-18
Business: They are a pharmaceutical company dedicated to developing and commercializing sulopenem to be potentially the first and only oral and intravenous (IV) branded penem available globally. Penems, including thiopenems and carbapenems, belong to a class of antibiotics more broadly defined as ß-lactam antibiotics, the original example of which was penicillin, but which now also includes cephalosporins. Sulopenem, which they licensed from Pfizer Inc. (Pfizer) in November 2015, is a potent, thiopenem antibiotic delivered intravenously which is active against bacteria that belong to the group of organisms known as gram-negatives and cause urinary tract and intra-abdominal infections. Pfizer also developed an oral prodrug, sulopenem etzadroxil, which they further enhanced with the addition of probenecid and combined into a single bilayer tablet, which they refer to as oral sulopenem. Both oral sulopenem and sulopenem have the potential to be important new treatment alternatives to address growing concerns related to antibacterial resistance without the known toxicities of some of the most widely used antibiotics, specifically fluoroquinolones. They believe there are two distinct opportunities for their sulopenem program: patients at elevated risk for treatment failure in the community setting suffering from uncomplicated urinary tract infections (uUTI), and hospitalized patients suffering from complicated, antibiotic-resistant infections.
They plan to initiate a Phase 3 clinical program in the second half of 2018 for the treatment of adults in three indications: uUTI, complicated urinary tract infections (cUTI) and complicated intra-abdominal infections (cIAI).
Insider Buying: Certain of their directors and existing shareholders, or their affiliates, have indicated an interest in purchasing up to an aggregate of approximately $35.0 million of their ordinary shares in this offering.
Licensing Agreement: In November 2015, they acquired an exclusive, worldwide license under certain patents and know-how to develop and commercialize sulopenem and its oral prodrug, sulopenem etzadroxil, from Pfizer Inc. (Pfizer).
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
IPO Boutique subscription clients receive daily updates on this critical information.
Conclusion: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a track record with our performance for last 12 years at our website. Additionally, here’s a 2017 recap of our performance to showcase the value of IPO Boutique’s service.
Indicate with confidence, SUBSCRIBE today.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish