Iterum Therapeutics tanks as Phase III sulopenem trial misses goals
Ireland-incorporated superbug specialist Iterum Therapeutics (Nasdaq: ITRM) saw its shares plunge almost 60% to $1.70 by close of trading on Monday, after the company reported a second clinical failure for its sulopenem, its only clinical asset, and leading the company to consider its future.
The clinical-stage biopharma firm announced that sulopenem did not achieve statistical non-inferiority relative to ertapenem in its SUlopenem for Resistant Enterobacteriaceae (SURE) 2 clinical trial in complicated urinary tract infection (cUTI). The primary US Food and Drug Administration endpoint was overall clinical and microbiologic response on Day 21 in the micro-MITT population as evaluated using a 10% non-inferiority margin.
The stock was off a further 7% at $1.58 pre-market today.
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