false000165932300-000000000016593232024-10-092024-10-09

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 09, 2024

 

 

Iterum Therapeutics plc

(Exact name of Registrant as Specified in Its Charter)

 

 

Ireland

001-38503

Not applicable

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

Fitzwilliam Court

1st Floor

Leeson Close

 

Dublin 2, , Ireland

 

Not applicable

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: +353 1 6694820

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Ordinary Shares, par value $0.01 per share

 

ITRM

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed, on April 3, 2024, the Listing Qualifications department of The Nasdaq Stock Market LLC ("Nasdaq") notified Iterum Therapeutics plc (the “Company”) that it did not comply with the minimum $2,500,000 stockholders’ equity requirement for continued listing set forth in Nasdaq Listing Rule 5550(b) (the “Rule”); however, based on their review and materials submitted on May 20, 2024, Nasdaq granted the Company’s request for an extension until September 30, 2024, to comply with this requirement.

On October 1, 2024, the Company received a delisting determination letter from Nasdaq advising the Company that Nasdaq had determined that the Company did not meet the terms of the extension.

The Company submitted a hearing request to the Nasdaq Hearings Panel (the “Panel”), and, on October 9, 2024, the Company received formal notice from Nasdaq that the Panel will consider its appeal at an oral hearing on November 21, 2024. At the Panel hearing, the Company intends to present a plan to regain compliance with the minimum stockholders’ equity requirement. Pursuant to the Nasdaq Listing Rules, the hearing request has stayed the suspension of trading and delisting of the Company’s ordinary shares pending the conclusion of the hearing process. Consequently, the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol “ITRM”, at least until the Panel renders a decision following the hearing.

 

Pursuant to the Nasdaq Listing Rules, the Panel has the discretion to grant the Company an additional extension period not to exceed March 31, 2025. Notwithstanding, there can be no assurance that the Panel will grant the Company an additional extension period or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market.

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:

October 15, 2024

By:

/s/ Corey N. Fishman

 

 

 

Corey N. Fishman
Chief Executive Officer

 

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Document And Entity Information
Oct. 09, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Oct. 09, 2024
Entity Registrant Name Iterum Therapeutics plc
Entity Central Index Key 0001659323
Entity Emerging Growth Company false
Entity File Number 001-38503
Entity Incorporation, State or Country Code L2
Entity Tax Identification Number 00-0000000
Entity Address, Address Line One Fitzwilliam Court
Entity Address, Address Line Two 1st Floor
Entity Address, Address Line Three Leeson Close
Entity Address, City or Town Dublin 2
Entity Address, Country IE
Entity Address, Postal Zip Code Not applicable
City Area Code +353
Local Phone Number 1 6694820
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Ordinary Shares, par value $0.01 per share
Trading Symbol ITRM
Security Exchange Name NASDAQ
Iterum Therapeutics (NASDAQ:ITRM)
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